Onto Innovation Inc. (NYSE:ONTO) – Stock analysts at DA Davidson issued their Q2 2021 earnings per share estimates for shares of Onto Innovation in a research note issued on Friday, April 30th. DA Davidson analyst T. Diffely forecasts that the semiconductor company will post earnings of $0.80 per share for the quarter. DA Davidson has a “Buy” rating and a $80.00 price objective on the stock. DA Davidson also issued estimates for Onto Innovation’s FY2022 earnings at $3.40 EPS.
Onto Innovation (NYSE:ONTO) last announced its quarterly earnings results on Thursday, April 29th. The semiconductor company reported $0.73 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.04. Onto Innovation had a negative net margin of 1.27% and a positive return on equity of 6.32%.
A number of other equities research analysts have also recently weighed in on ONTO. Needham & Company LLC lifted their price target on shares of Onto Innovation from $68.00 to $76.00 and gave the company a “buy” rating in a research report on Tuesday, April 27th. Zacks Investment Research raised shares of Onto Innovation from a “hold” rating to a “buy” rating and set a $72.00 price objective for the company in a research note on Monday. TheStreet raised shares of Onto Innovation from a “c+” rating to a “b” rating in a research note on Tuesday, February 23rd. Finally, B. Riley raised their price objective on shares of Onto Innovation from $90.00 to $98.00 and gave the company a “buy” rating in a research note on Friday, April 30th. Five research analysts have rated the stock with a buy rating, Onto Innovation presently has a consensus rating of “Buy” and a consensus target price of $75.20.
Shares of ONTO opened at $64.05 on Monday. Onto Innovation has a 1-year low of $28.08 and a 1-year high of $72.55. The stock has a market cap of $3.14 billion, a PE ratio of -337.11 and a beta of 1.28. The firm has a 50-day simple moving average of $67.27 and a two-hundred day simple moving average of $56.13.
In related news, Director Bruce C. Rhine sold 41,767 shares of Onto Innovation stock in a transaction that occurred on Tuesday, February 9th. The shares were sold at an average price of $59.42, for a total value of $2,481,795.14. Following the completion of the transaction, the director now owns 446,362 shares in the company, valued at $26,522,830.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Bruce C. Rhine sold 32,689 shares of Onto Innovation stock in a transaction that occurred on Monday, April 12th. The stock was sold at an average price of $71.01, for a total transaction of $2,321,245.89. Following the completion of the transaction, the director now owns 224,459 shares of the company’s stock, valued at approximately $15,938,833.59. The disclosure for this sale can be found here. Insiders sold 234,790 shares of company stock valued at $14,690,802 in the last quarter. 3.30% of the stock is owned by insiders.
Several large investors have recently modified their holdings of ONTO. FMR LLC lifted its position in shares of Onto Innovation by 15.6% during the 1st quarter. FMR LLC now owns 1,209,498 shares of the semiconductor company’s stock worth $37,349,000 after buying an additional 163,008 shares during the last quarter. Morgan Stanley purchased a new stake in shares of Onto Innovation during the 3rd quarter worth approximately $4,140,000. Great West Life Assurance Co. Can purchased a new stake in shares of Onto Innovation during the 3rd quarter worth approximately $1,591,000. Teachers Retirement System of The State of Kentucky purchased a new stake in shares of Onto Innovation during the 3rd quarter worth approximately $413,000. Finally, Sei Investments Co. purchased a new stake in shares of Onto Innovation during the 3rd quarter worth approximately $743,000. Institutional investors and hedge funds own 91.49% of the company’s stock.
About Onto Innovation
Onto Innovation Inc engages in the design, development, manufacture, and support of process control tools that performs macro defect inspection and metrology, lithography systems, and process control analytical software worldwide. It offers process and yield management solutions, and device packaging and test facilities through standalone systems for macro-defect inspection, packaging lithography, probe card test and analysis, and transparent and opaque thin film measurements; and process control software portfolio that includes solutions for standalone tools, groups of tools, or factory-wide suites.
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