Onto Innovation Inc. (NYSE:ONTO) Receives $193.75 Average Price Target from Brokerages

Onto Innovation Inc. (NYSE:ONTO) has been given an average rating of “Moderate Buy” by the ten brokerages that are currently covering the stock, MarketBeat reports. Three investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating on the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $193.75.

Several equities research analysts have recently issued reports on the stock. Stifel Nicolaus increased their price objective on shares of Onto Innovation from $126.00 to $180.00 and gave the stock a “hold” rating in a research report on Wednesday, January 14th. Needham & Company LLC increased their price target on Onto Innovation from $200.00 to $260.00 and gave the company a “buy” rating in a report on Tuesday, January 20th. Evercore raised their price objective on Onto Innovation from $115.00 to $160.00 and gave the company an “outperform” rating in a research report on Tuesday, November 4th. Weiss Ratings restated a “hold (c)” rating on shares of Onto Innovation in a research note on Thursday, January 22nd. Finally, Cantor Fitzgerald reiterated a “neutral” rating and issued a $170.00 target price on shares of Onto Innovation in a research note on Tuesday, December 16th.

Onto Innovation Price Performance

Onto Innovation stock opened at $217.67 on Friday. The company has a market cap of $10.67 billion, a price-to-earnings ratio of 61.49, a price-to-earnings-growth ratio of 1.18 and a beta of 1.49. Onto Innovation has a 12 month low of $85.88 and a 12 month high of $227.07. The stock’s 50-day moving average is $182.90 and its 200-day moving average is $143.38.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. TD Asset Management Inc purchased a new stake in Onto Innovation during the 4th quarter worth approximately $1,452,000. Sivia Capital Partners LLC acquired a new stake in shares of Onto Innovation during the fourth quarter worth approximately $296,000. Bank of New York Mellon Corp increased its stake in shares of Onto Innovation by 23.3% in the fourth quarter. Bank of New York Mellon Corp now owns 600,793 shares of the semiconductor company’s stock worth $94,841,000 after buying an additional 113,555 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in shares of Onto Innovation by 203.5% in the fourth quarter. Goldman Sachs Group Inc. now owns 455,481 shares of the semiconductor company’s stock worth $71,902,000 after buying an additional 305,388 shares during the last quarter. Finally, Root Financial Partners LLC raised its holdings in Onto Innovation by 71.2% in the fourth quarter. Root Financial Partners LLC now owns 178 shares of the semiconductor company’s stock valued at $28,000 after acquiring an additional 74 shares in the last quarter. 98.35% of the stock is owned by institutional investors and hedge funds.

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.