Onto Innovation Inc. (NYSE:ONTO - Get Free Report) has earned an average recommendation of "Buy" from the seven brokerages that are covering the stock, MarketBeat.com reports. Seven analysts have rated the stock with a buy recommendation. The average twelve-month price target among analysts that have covered the stock in the last year is $259.17.
Several brokerages have weighed in on ONTO. Benchmark reaffirmed a "buy" rating and issued a $230.00 target price on shares of Onto Innovation in a research report on Friday, August 9th. B. Riley lifted their price objective on shares of Onto Innovation from $250.00 to $280.00 and gave the company a "buy" rating in a research report on Thursday, June 20th. Stifel Nicolaus boosted their target price on shares of Onto Innovation from $240.00 to $270.00 and gave the company a "buy" rating in a research note on Monday, July 15th. Oppenheimer started coverage on shares of Onto Innovation in a research note on Wednesday. They issued an "outperform" rating and a $260.00 price target on the stock. Finally, Needham & Company LLC raised Onto Innovation from a "hold" rating to a "buy" rating in a report on Monday, August 19th.
Read Our Latest Stock Report on ONTO
In other news, SVP Srinivas Vedula sold 1,275 shares of Onto Innovation stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $207.24, for a total transaction of $264,231.00. Following the transaction, the senior vice president now directly owns 16,050 shares in the company, valued at approximately $3,326,202. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.72% of the company's stock.
Several institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its holdings in Onto Innovation by 1.3% during the 1st quarter. Vanguard Group Inc. now owns 5,254,287 shares of the semiconductor company's stock worth $951,446,000 after buying an additional 65,472 shares during the period. Price T Rowe Associates Inc. MD lifted its position in shares of Onto Innovation by 64.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 946,879 shares of the semiconductor company's stock valued at $144,779,000 after acquiring an additional 371,641 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of Onto Innovation by 28.5% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 856,780 shares of the semiconductor company's stock valued at $188,115,000 after acquiring an additional 189,769 shares in the last quarter. Wellington Management Group LLP boosted its stake in Onto Innovation by 13.0% in the 4th quarter. Wellington Management Group LLP now owns 844,623 shares of the semiconductor company's stock worth $129,143,000 after purchasing an additional 96,925 shares during the period. Finally, Hood River Capital Management LLC raised its stake in Onto Innovation by 6.9% during the 1st quarter. Hood River Capital Management LLC now owns 672,230 shares of the semiconductor company's stock valued at $121,727,000 after purchasing an additional 43,132 shares during the period. Institutional investors own 98.35% of the company's stock.
Onto Innovation stock opened at $203.72 on Thursday. Onto Innovation has a 1 year low of $108.98 and a 1 year high of $238.93. The firm's 50-day moving average is $195.10 and its 200-day moving average is $202.06. The company has a market cap of $10.04 billion, a P/E ratio of 72.50 and a beta of 1.37.
Onto Innovation (NYSE:ONTO - Get Free Report) last issued its earnings results on Thursday, August 8th. The semiconductor company reported $1.32 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.20 by $0.12. The firm had revenue of $242.33 million for the quarter, compared to analysts' expectations of $235.43 million. Onto Innovation had a net margin of 18.50% and a return on equity of 12.71%. Onto Innovation's revenue was up 27.1% on a year-over-year basis. During the same quarter last year, the company posted $0.79 earnings per share. As a group, sell-side analysts predict that Onto Innovation will post 5.18 earnings per share for the current year.
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.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected].
Before you consider Onto Innovation, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Onto Innovation wasn't on the list.
While Onto Innovation currently has a "Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.