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

Shares of Onto Innovation Inc. (NYSE:ONTO) have been given an average rating of “Moderate Buy” by the twelve ratings firms that are presently covering the company, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $320.60.

A number of research firms have recently weighed in on ONTO. Jefferies Financial Group reiterated a “buy” rating and issued a $350.00 price objective on shares of Onto Innovation in a research note on Wednesday, May 6th. Weiss Ratings upgraded shares of Onto Innovation from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, April 27th. Oppenheimer reiterated an “outperform” rating on shares of Onto Innovation in a research note on Monday, June 1st. Zacks Research lowered shares of Onto Innovation from a “strong-buy” rating to a “hold” rating in a research note on Monday. Finally, Wall Street Zen upgraded shares of Onto Innovation from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th.

Onto Innovation Trading Up 1.0%

Shares of Onto Innovation stock opened at $319.19 on Friday. Onto Innovation has a 12-month low of $89.40 and a 12-month high of $348.76. The firm has a market capitalization of $15.88 billion, a price-to-earnings ratio of 149.16, a PEG ratio of 1.29 and a beta of 1.62. The firm’s 50 day simple moving average is $276.96 and its two-hundred day simple moving average is $222.27.

Onto Innovation (NYSE:ONTO) last released its quarterly earnings data on Tuesday, May 5th. The semiconductor company reported $1.42 earnings per share for the quarter, topping analysts’ consensus estimates of $1.38 by $0.04. The firm had revenue of $291.95 million for the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.51 earnings per share. On average, sell-side analysts predict that Onto Innovation will post 7.14 EPS for the current fiscal year.

Institutional Trading of Onto Innovation

Hedge funds and other institutional investors have recently made changes to their positions in the business. Eagle Rock Investment Company LLC grew its position in Onto Innovation by 99.3% during the fourth quarter. Eagle Rock Investment Company LLC now owns 10,037 shares of the semiconductor company’s stock valued at $1,584,000 after buying an additional 5,000 shares during the period. CWM LLC grew its position in Onto Innovation by 361.2% during the fourth quarter. CWM LLC now owns 20,068 shares of the semiconductor company’s stock valued at $3,168,000 after buying an additional 15,717 shares during the period. AI Squared Management Ltd acquired a new stake in Onto Innovation during the third quarter valued at $7,792,000. Fisher Asset Management LLC grew its position in Onto Innovation by 22.1% during the third quarter. Fisher Asset Management LLC now owns 656,002 shares of the semiconductor company’s stock valued at $84,769,000 after buying an additional 118,642 shares during the period. Finally, Brevan Howard Capital Management LP acquired a new stake in Onto Innovation during the third quarter valued at $3,436,000. Institutional investors and hedge funds own 98.35% of the company’s stock.

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.