Onto Innovation’s (ONTO) “Buy” Rating Reaffirmed at Benchmark

Benchmark reaffirmed their buy rating on shares of Onto Innovation (NYSE:ONTO) in a research note released on Friday,Benzinga reports. Benchmark currently has a $230.00 price target on the semiconductor company’s stock.

A number of other research analysts have also recently commented on ONTO. Oppenheimer restated an “outperform” rating and set a $275.00 price objective on shares of Onto Innovation in a research note on Tuesday, December 17th. Stifel Nicolaus lowered their price objective on shares of Onto Innovation from $270.00 to $250.00 and set a “buy” rating for the company in a research report on Friday. Jefferies Financial Group reduced their target price on shares of Onto Innovation from $265.00 to $245.00 and set a “buy” rating on the stock in a research report on Friday, November 1st. Cantor Fitzgerald restated an “overweight” rating and issued a $250.00 target price on shares of Onto Innovation in a research note on Friday. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $230.00 price target on shares of Onto Innovation in a research note on Friday. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, Onto Innovation has an average rating of “Moderate Buy” and a consensus price target of $251.25.

Onto Innovation Trading Down 10.8 %

Shares of ONTO opened at $187.81 on Friday. The stock’s fifty day simple moving average is $185.54 and its 200 day simple moving average is $190.38. Onto Innovation has a twelve month low of $145.15 and a twelve month high of $238.93. The firm has a market capitalization of $9.28 billion, a P/E ratio of 46.26, a price-to-earnings-growth ratio of 1.09 and a beta of 1.31.

Onto Innovation (NYSE:ONTO) last posted its earnings results on Thursday, February 6th. The semiconductor company reported $1.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.41 by $0.10. Onto Innovation had a net margin of 20.43% and a return on equity of 14.41%. Sell-side analysts predict that Onto Innovation will post 6.46 earnings per share for the current year.

Insider Activity at Onto Innovation

In related news, CEO Michael P. Plisinski sold 20,000 shares of the company’s stock in a transaction on Tuesday, January 14th. The stock was sold at an average price of $200.19, for a total transaction of $4,003,800.00. Following the completion of the transaction, the chief executive officer now directly owns 215,492 shares in the company, valued at $43,139,343.48. This represents a 8.49 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Srinivas Vedula sold 827 shares of the company’s stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $205.00, for a total transaction of $169,535.00. Following the transaction, the senior vice president now owns 15,223 shares of the company’s stock, valued at $3,120,715. This represents a 5.15 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 85,827 shares of company stock valued at $18,182,185 over the last ninety days. Corporate insiders own 0.72% of the company’s stock.

Institutional Investors Weigh In On Onto Innovation

Large investors have recently made changes to their positions in the company. HighTower Advisors LLC grew its stake in shares of Onto Innovation by 4.0% in the fourth quarter. HighTower Advisors LLC now owns 10,587 shares of the semiconductor company’s stock worth $1,765,000 after purchasing an additional 403 shares in the last quarter. Wealthfront Advisers LLC acquired a new position in shares of Onto Innovation in the 4th quarter worth approximately $20,182,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Onto Innovation by 18.5% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,782 shares of the semiconductor company’s stock valued at $2,630,000 after buying an additional 2,466 shares in the last quarter. AlphaQuest LLC raised its position in shares of Onto Innovation by 28.1% during the fourth quarter. AlphaQuest LLC now owns 2,963 shares of the semiconductor company’s stock worth $494,000 after purchasing an additional 650 shares during the period. Finally, PNC Financial Services Group Inc. lifted its stake in Onto Innovation by 42.1% during the fourth quarter. PNC Financial Services Group Inc. now owns 6,342 shares of the semiconductor company’s stock valued at $1,057,000 after buying an additional 1,878 shares in the last quarter. Institutional investors and hedge funds own 98.35% 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 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.