Onto Innovation Inc. (NYSE:ONTO) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Onto Innovation Inc. (NYSE:ONTO) has been given a consensus rating of “Moderate Buy” by the seven research firms that are presently covering the stock, Marketbeat.com reports. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $167.86.

A number of analysts have weighed in on ONTO shares. Wall Street Zen upgraded Onto Innovation from a “sell” rating to a “hold” rating in a report on Saturday, May 17th. Needham & Company LLC lowered their target price on Onto Innovation from $230.00 to $150.00 and set a “buy” rating for the company in a report on Friday, May 9th. Oppenheimer lowered their target price on Onto Innovation from $150.00 to $130.00 and set an “outperform” rating for the company in a report on Friday, May 9th. Benchmark lowered their target price on Onto Innovation from $230.00 to $190.00 and set a “buy” rating for the company in a report on Friday, May 9th. Finally, Stifel Nicolaus lowered their target price on Onto Innovation from $200.00 to $180.00 and set a “buy” rating for the company in a report on Tuesday, April 15th.

Institutional Trading of Onto Innovation

Several hedge funds and other institutional investors have recently made changes to their positions in ONTO. Vanguard Group Inc. raised its stake in Onto Innovation by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 5,166,137 shares of the semiconductor company’s stock worth $861,040,000 after acquiring an additional 76,233 shares during the last quarter. JPMorgan Chase & Co. grew its position in shares of Onto Innovation by 9.2% during the 4th quarter. JPMorgan Chase & Co. now owns 2,192,238 shares of the semiconductor company’s stock valued at $365,380,000 after acquiring an additional 183,839 shares during the period. Franklin Resources Inc. grew its position in shares of Onto Innovation by 21.2% during the 4th quarter. Franklin Resources Inc. now owns 1,553,271 shares of the semiconductor company’s stock valued at $258,883,000 after acquiring an additional 271,470 shares during the period. Artisan Partners Limited Partnership grew its position in shares of Onto Innovation by 41.6% during the 4th quarter. Artisan Partners Limited Partnership now owns 1,515,152 shares of the semiconductor company’s stock valued at $252,530,000 after acquiring an additional 444,860 shares during the period. Finally, Invesco Ltd. boosted its holdings in Onto Innovation by 33.9% in the 4th quarter. Invesco Ltd. now owns 1,406,034 shares of the semiconductor company’s stock worth $234,344,000 after buying an additional 356,161 shares during the last quarter. Hedge funds and other institutional investors own 98.35% of the company’s stock.

Onto Innovation Stock Up 1.9%

Shares of NYSE:ONTO opened at $96.09 on Tuesday. Onto Innovation has a 52-week low of $85.88 and a 52-week high of $238.93. The stock has a market cap of $4.69 billion, a P/E ratio of 23.67, a price-to-earnings-growth ratio of 0.89 and a beta of 1.45. The business’s 50 day moving average is $109.34 and its 200 day moving average is $148.05.

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

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.