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

Onto Innovation Inc. (NYSE:ONTO) has been assigned a consensus rating of “Moderate Buy” from the ten ratings firms that are covering the firm, Marketbeat reports. Three analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $193.75.

A number of research analysts have recently issued reports on the stock. Jefferies Financial Group boosted their price target on shares of Onto Innovation from $170.00 to $200.00 and gave the stock a “buy” rating in a research report on Monday, December 15th. Cantor Fitzgerald reissued a “neutral” rating and set a $170.00 target price on shares of Onto Innovation in a research note on Tuesday, December 16th. Stifel Nicolaus boosted their target price on shares of Onto Innovation from $126.00 to $180.00 and gave the company a “hold” rating in a report on Wednesday, January 14th. Needham & Company LLC upped their price target on shares of Onto Innovation from $200.00 to $260.00 and gave the company a “buy” rating in a research report on Tuesday, January 20th. Finally, B. Riley Financial increased their price target on Onto Innovation from $180.00 to $240.00 and gave the stock a “buy” rating in a report on Thursday, January 15th.

Hedge Funds Weigh In On Onto Innovation

Several institutional investors have recently added to or reduced their stakes in the business. Vanguard Personalized Indexing Management LLC grew its position in shares of Onto Innovation by 1.5% during the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 4,974 shares of the semiconductor company’s stock worth $643,000 after buying an additional 75 shares during the period. Amalgamated Bank lifted its position in shares of Onto Innovation by 0.3% during the 3rd quarter. Amalgamated Bank now owns 22,663 shares of the semiconductor company’s stock valued at $2,929,000 after acquiring an additional 79 shares during the period. Campbell Newman Asset Management Inc. boosted its stake in Onto Innovation by 0.4% during the third quarter. Campbell Newman Asset Management Inc. now owns 18,880 shares of the semiconductor company’s stock worth $2,440,000 after acquiring an additional 80 shares in the last quarter. Palisades Investment Partners LLC boosted its stake in Onto Innovation by 0.4% during the third quarter. Palisades Investment Partners LLC now owns 20,206 shares of the semiconductor company’s stock worth $2,611,000 after acquiring an additional 84 shares in the last quarter. Finally, Brighton Jones LLC grew its holdings in Onto Innovation by 1.4% in the third quarter. Brighton Jones LLC now owns 6,349 shares of the semiconductor company’s stock worth $820,000 after purchasing an additional 87 shares during the period. 98.35% of the stock is owned by institutional investors and hedge funds.

Onto Innovation Trading Up 10.6%

Shares of ONTO opened at $208.81 on Friday. The stock’s 50-day moving average price is $180.28 and its two-hundred day moving average price is $141.42. Onto Innovation has a 12 month low of $85.88 and a 12 month high of $227.07. The company has a market capitalization of $10.23 billion, a PE ratio of 58.99, a PEG ratio of 1.15 and a beta of 1.50.

Onto Innovation (NYSE:ONTO) last issued its quarterly earnings results on Thursday, November 6th. The semiconductor company reported $0.92 earnings per share for the quarter, beating the consensus estimate of $0.89 by $0.03. The company had revenue of $218.19 million during the quarter, compared to analysts’ expectations of $220.23 million. Onto Innovation had a return on equity of 13.11% and a net margin of 17.46%.The business’s quarterly revenue was down 13.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.34 earnings per share. Equities research analysts predict that Onto Innovation will post 6.26 EPS for the current fiscal year.

Onto Innovation Company Profile

Onto Innovation (NYSE:ONTO) is a global supplier of advanced process control and inspection systems for semiconductor and electronics manufacturers. The company’s solutions span metrology, inspection, defect review and lithography mask repair, helping customers optimize yield, reduce costs and improve device performance. By integrating high-resolution optical and e-beam tools with sophisticated software analytics, Onto Innovation enables wafer, mask and advanced packaging producers to maintain tight process control across leading-edge nodes and specialty applications.

Key products include high-throughput wafer metrology systems, optical and e-beam defect inspection platforms, mask inspection and repair tools, and data-driven software for yield management and process optimization.