Onto Innovation Inc. (NYSE:ONTO) Receives Average Rating of “Buy” from Analysts

Shares of Onto Innovation Inc. (NYSE:ONTO) have been given an average rating of “Buy” by the ten analysts that are covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a hold recommendation, eight have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $310.6250.

Several research analysts have weighed in on ONTO shares. Wall Street Zen upgraded shares of Onto Innovation from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. Weiss Ratings upgraded shares of Onto Innovation from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, April 27th. Needham & Company LLC upped their price objective on shares of Onto Innovation from $320.00 to $330.00 and gave the stock a “buy” rating in a report on Wednesday, May 6th. Jefferies Financial Group restated a “buy” rating and set a $350.00 price objective on shares of Onto Innovation in a report on Wednesday, May 6th. Finally, Evercore restated an “outperform” rating and set a $315.00 price objective on shares of Onto Innovation in a report on Friday, April 17th.

Onto Innovation Trading Down 0.1%

ONTO opened at $262.05 on Tuesday. The company’s fifty day moving average price is $250.91 and its two-hundred day moving average price is $204.30. Onto Innovation has a 1-year low of $89.40 and a 1-year high of $316.00. The company has a market cap of $13.03 billion, a price-to-earnings ratio of 122.45, a PEG ratio of 1.28 and a beta of 1.70.

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 the consensus estimate of $1.38 by $0.04. Onto Innovation had a net margin of 10.32% and a return on equity of 11.68%. The firm had revenue of $291.95 million for the quarter, compared to the consensus estimate of $292.00 million. During the same quarter in the prior year, the company posted $1.51 earnings per share. The business’s revenue was up 9.5% on a year-over-year basis. As a group, equities analysts forecast that Onto Innovation will post 6.83 earnings per share for the current fiscal year.

Institutional Trading of Onto Innovation

Several institutional investors and hedge funds have recently made changes to their positions in the company. Parallel Advisors LLC raised its holdings in shares of Onto Innovation by 16.5% in the first quarter. Parallel Advisors LLC now owns 395 shares of the semiconductor company’s stock valued at $81,000 after purchasing an additional 56 shares during the last quarter. Kestra Advisory Services LLC raised its holdings in shares of Onto Innovation by 4.9% in the first quarter. Kestra Advisory Services LLC now owns 1,368 shares of the semiconductor company’s stock valued at $281,000 after purchasing an additional 64 shares during the last quarter. Root Financial Partners LLC raised its holdings in shares of 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 purchasing an additional 74 shares during the last quarter. Vanguard Personalized Indexing Management LLC raised its holdings in shares of Onto Innovation by 1.5% in the third quarter. Vanguard Personalized Indexing Management LLC now owns 4,974 shares of the semiconductor company’s stock valued at $643,000 after purchasing an additional 75 shares during the last quarter. Finally, Amalgamated Bank raised its holdings in shares of Onto Innovation by 0.3% in the third quarter. Amalgamated Bank now owns 22,663 shares of the semiconductor company’s stock valued at $2,929,000 after purchasing an additional 79 shares during the last quarter. Hedge funds and other 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.