Onto Innovation Inc. (NYSE:ONTO – Get Free Report) has been assigned an average rating of “Moderate Buy” from the thirteen brokerages that are currently covering the firm, Marketbeat Ratings reports. Two analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $339.60.
Several research analysts have weighed in on ONTO shares. Zacks Research downgraded shares of Onto Innovation from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 15th. Stifel Nicolaus set a $350.00 price objective on shares of Onto Innovation and gave the company a “buy” rating in a research report on Friday, April 17th. Evercore restated an “outperform” rating and issued a $315.00 price objective on shares of Onto Innovation in a research note on Friday, April 17th. B. Riley Financial raised their target price on Onto Innovation from $275.00 to $310.00 and gave the stock a “buy” rating in a report on Monday, April 13th. Finally, Deutsche Bank Aktiengesellschaft began coverage on Onto Innovation in a research report on Friday, June 5th. They set a “buy” rating and a $350.00 target price on the stock.
Read Our Latest Research Report on Onto Innovation
Onto Innovation Stock Up 4.9%
Onto Innovation (NYSE:ONTO – Get Free Report) last issued its quarterly earnings data on Tuesday, May 5th. The semiconductor company reported $1.42 earnings per share for the quarter, topping the consensus estimate of $1.38 by $0.04. The firm had revenue of $291.95 million for the quarter, compared to analysts’ expectations of $292.00 million. Onto Innovation had a net margin of 10.32% and a return on equity of 11.68%. The business’s quarterly revenue was up 9.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.51 EPS. Research analysts anticipate that Onto Innovation will post 7.14 EPS for the current fiscal year.
Institutional Inflows and Outflows
Several institutional investors have recently made changes to their positions in ONTO. Handelsbanken Fonder AB grew its stake in shares of Onto Innovation by 13.0% during the 2nd quarter. Handelsbanken Fonder AB now owns 16,500 shares of the semiconductor company’s stock valued at $6,244,000 after acquiring an additional 1,900 shares during the period. Arista Wealth Management LLC purchased a new stake in Onto Innovation in the 2nd quarter worth approximately $378,000. Everhart Financial Group Inc. bought a new stake in Onto Innovation during the 2nd quarter worth approximately $256,000. GAMMA Investing LLC raised its stake in Onto Innovation by 19.2% during the 2nd quarter. GAMMA Investing LLC now owns 1,483 shares of the semiconductor company’s stock worth $561,000 after acquiring an additional 239 shares during the period. Finally, Avior Wealth Management LLC bought a new stake in Onto Innovation during the 2nd quarter worth approximately $201,000. Institutional investors own 98.35% of the company’s stock.
About Onto Innovation
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.
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