Onto Innovation (NYSE:ONTO) Coverage Initiated at Evercore ISI

Evercore ISI started coverage on shares of Onto Innovation (NYSE:ONTO) in a report published on Tuesday morning, MarketBeat reports. The brokerage issued an outperform rating and a $235.00 price target on the semiconductor company’s stock.

A number of other brokerages have also recently weighed in on ONTO. StockNews.com raised shares of Onto Innovation from a sell rating to a hold rating in a research report on Monday, February 12th. Benchmark boosted their price objective on shares of Onto Innovation from $145.00 to $180.00 and gave the company a buy rating in a research report on Friday, February 9th. Stifel Nicolaus boosted their price objective on shares of Onto Innovation from $188.00 to $215.00 and gave the company a buy rating in a research report on Monday, March 25th. Finally, B. Riley boosted their price objective on shares of Onto Innovation from $195.00 to $205.00 and gave the company a buy rating in a research report on Friday, February 9th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and an average price target of $191.60.

Onto Innovation Stock Up 3.6 %

Shares of NYSE ONTO opened at $189.73 on Tuesday. The company’s fifty day moving average is $181.29 and its 200-day moving average is $154.74. The stock has a market cap of $9.32 billion, a price-to-earnings ratio of 77.13 and a beta of 1.40. Onto Innovation has a twelve month low of $76.40 and a twelve month high of $199.72.

Onto Innovation (NYSE:ONTO) last announced its quarterly earnings results on Thursday, February 8th. The semiconductor company reported $1.06 earnings per share for the quarter, topping analysts’ consensus estimates of $0.99 by $0.07. The company had revenue of $219.00 million for the quarter, compared to analysts’ expectations of $209.06 million. Onto Innovation had a net margin of 14.85% and a return on equity of 10.95%. The business’s quarterly revenue was down 13.5% compared to the same quarter last year. During the same period last year, the firm posted $1.57 earnings per share. On average, research analysts anticipate that Onto Innovation will post 4.7 EPS for the current fiscal year.

Insiders Place Their Bets

In other Onto Innovation news, Director David Brian Miller sold 2,800 shares of the business’s stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $170.49, for a total transaction of $477,372.00. Following the sale, the director now directly owns 9,008 shares of the company’s stock, valued at approximately $1,535,773.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Onto Innovation news, Director David Brian Miller sold 2,800 shares of the business’s stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $170.49, for a total transaction of $477,372.00. Following the sale, the director now directly owns 9,008 shares of the company’s stock, valued at approximately $1,535,773.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP Yoon Ah Oh sold 2,685 shares of the business’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $173.96, for a total transaction of $467,082.60. Following the sale, the vice president now directly owns 16,598 shares in the company, valued at $2,887,388.08. The disclosure for this sale can be found here. Insiders have sold 47,170 shares of company stock valued at $8,266,955 in the last three months. 0.72% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Onto Innovation

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vontobel Holding Ltd. increased its stake in shares of Onto Innovation by 1.2% during the 4th quarter. Vontobel Holding Ltd. now owns 6,535 shares of the semiconductor company’s stock worth $999,000 after purchasing an additional 75 shares during the last quarter. Stephens Inc. AR increased its stake in shares of Onto Innovation by 10.1% during the 4th quarter. Stephens Inc. AR now owns 840 shares of the semiconductor company’s stock worth $128,000 after purchasing an additional 77 shares during the last quarter. Campbell Newman Asset Management Inc. increased its stake in shares of Onto Innovation by 0.4% during the 4th quarter. Campbell Newman Asset Management Inc. now owns 18,538 shares of the semiconductor company’s stock worth $2,834,000 after purchasing an additional 78 shares during the last quarter. Integrated Wealth Concepts LLC increased its stake in shares of Onto Innovation by 3.4% during the 3rd quarter. Integrated Wealth Concepts LLC now owns 2,554 shares of the semiconductor company’s stock worth $326,000 after purchasing an additional 84 shares during the last quarter. Finally, GAMMA Investing LLC increased its stake in shares of Onto Innovation by 41.1% during the 1st quarter. GAMMA Investing LLC now owns 292 shares of the semiconductor company’s stock worth $53,000 after purchasing an additional 85 shares during the last quarter. 98.35% of the stock is owned by institutional investors.

Onto Innovation Company Profile

Onto Innovation Inc engages in the design, development, manufacture, and support of process control tools that performs optical metrology. The company offers lithography systems and process control analytical software. It also offers process and yield management solutions, and device packaging and test facilities through standalone systems for optical metrology, macro-defect inspection, packaging lithography, and transparent and opaque thin film measurements.