Onto Innovation Inc. (NYSE:ONTO) Given Average Rating of “Moderate Buy” by Analysts

Onto Innovation Inc. (NYSE:ONTO) has earned a consensus recommendation of “Moderate Buy” from the seven research firms that are presently covering the stock, MarketBeat reports. Two investment analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $167.86.

Several equities research analysts recently commented on the company. Benchmark cut their target price on Onto Innovation from $230.00 to $190.00 and set a “buy” rating on the stock in a research report on Friday, May 9th. Needham & Company LLC cut their target price on Onto Innovation from $230.00 to $150.00 and set a “buy” rating on the stock in a research report on Friday, May 9th. Wall Street Zen upgraded Onto Innovation from a “sell” rating to a “hold” rating in a research report on Saturday, May 17th. Stifel Nicolaus dropped their price target on Onto Innovation from $200.00 to $180.00 and set a “buy” rating on the stock in a research note on Tuesday, April 15th. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and set a $135.00 price target (down from $250.00) on shares of Onto Innovation in a research note on Monday, May 5th.

Onto Innovation Trading Up 0.9%

Shares of ONTO stock opened at $92.72 on Tuesday. Onto Innovation has a 1-year low of $85.88 and a 1-year high of $238.93. The stock has a 50-day moving average of $111.60 and a 200-day moving average of $149.82. The stock has a market cap of $4.53 billion, a price-to-earnings ratio of 22.84, a PEG ratio of 0.89 and a beta of 1.55.

Onto Innovation (NYSE:ONTO) last announced its earnings results on Thursday, May 8th. The semiconductor company reported $1.51 EPS for the quarter, beating the consensus estimate of $1.47 by $0.04. Onto Innovation had a return on equity of 14.24% and a net margin of 20.43%. The company had revenue of $267.00 million for the quarter, compared to analyst estimates of $267.03 million. During the same quarter in the prior year, the company earned $1.18 EPS. The firm’s revenue for the quarter was up 16.5% compared to the same quarter last year. Sell-side analysts forecast that Onto Innovation will post 6.26 earnings per share for the current year.

Institutional Trading of Onto Innovation

Several institutional investors and hedge funds have recently modified their holdings of ONTO. JPMorgan Chase & Co. raised its stake in shares of Onto Innovation by 12.9% in the third quarter. JPMorgan Chase & Co. now owns 2,008,399 shares of the semiconductor company’s stock worth $416,863,000 after purchasing an additional 228,800 shares during the last quarter. Janney Montgomery Scott LLC purchased a new stake in shares of Onto Innovation in the fourth quarter worth approximately $935,000. Blue Trust Inc. raised its stake in shares of Onto Innovation by 61.8% in the fourth quarter. Blue Trust Inc. now owns 1,367 shares of the semiconductor company’s stock worth $228,000 after purchasing an additional 522 shares during the last quarter. KBC Group NV raised its stake in shares of Onto Innovation by 58.7% in the fourth quarter. KBC Group NV now owns 2,051 shares of the semiconductor company’s stock worth $342,000 after purchasing an additional 759 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. raised its stake in shares of Onto Innovation by 65.6% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 5,819 shares of the semiconductor company’s stock worth $970,000 after purchasing an additional 2,305 shares during the last quarter. 98.35% of the stock is owned by hedge funds and other 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.