Onto Innovation Inc. (NYSE:ONTO) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of Onto Innovation Inc. (NYSE:ONTO) have been assigned a consensus recommendation of “Moderate Buy” from the seven analysts that are presently covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $167.86.

A number of equities research analysts have issued reports on the company. Oppenheimer decreased their price objective on Onto Innovation from $150.00 to $130.00 and set an “outperform” rating on the stock in a research report on Friday, May 9th. Jefferies Financial Group set a $110.00 price objective on Onto Innovation and gave the company a “hold” rating in a research report on Tuesday, May 20th. Stifel Nicolaus decreased their price objective on Onto Innovation from $200.00 to $180.00 and set a “buy” rating on the stock in a research report on Tuesday, April 15th. Needham & Company LLC cut their target price on Onto Innovation from $230.00 to $150.00 and set a “buy” rating on the stock in a research note on Friday, May 9th. Finally, Wall Street Zen raised Onto Innovation from a “sell” rating to a “hold” rating in a research note on Saturday, May 17th.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Strs Ohio bought a new position in Onto Innovation in the first quarter worth approximately $590,000. Integrity Alliance LLC. bought a new position in Onto Innovation in the first quarter worth approximately $253,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in Onto Innovation by 8.8% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 163,259 shares of the semiconductor company’s stock worth $19,810,000 after purchasing an additional 13,175 shares in the last quarter. United Services Automobile Association bought a new position in Onto Innovation in the first quarter worth approximately $388,000. Finally, Fred Alger Management LLC grew its stake in Onto Innovation by 121.6% in the first quarter. Fred Alger Management LLC now owns 16,253 shares of the semiconductor company’s stock worth $1,972,000 after purchasing an additional 8,919 shares in the last quarter. Institutional investors own 98.35% of the company’s stock.

Onto Innovation Trading Up 1.9%

NYSE:ONTO opened at $96.09 on Tuesday. The company has a market capitalization of $4.69 billion, a P/E ratio of 23.67, a P/E/G ratio of 0.89 and a beta of 1.45. Onto Innovation has a 12 month low of $85.88 and a 12 month high of $238.93. The business’s 50-day moving average is $109.34 and its 200 day moving average is $148.05.

Onto Innovation (NYSE:ONTO) last posted its earnings results on Thursday, May 8th. The semiconductor company reported $1.51 EPS for the quarter, topping analysts’ consensus estimates of $1.47 by $0.04. The company had revenue of $267.00 million for the quarter, compared to the consensus estimate of $267.03 million. Onto Innovation had a return on equity of 14.24% and a net margin of 20.43%. The firm’s revenue for the quarter was up 16.5% on a year-over-year basis. During the same period in the previous year, the business earned $1.18 earnings per share. On average, research analysts forecast that Onto Innovation will post 6.26 earnings per share for the current year.

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.