Brokerages Set Onto Innovation Inc. (NYSE:ONTO) Target Price at $180.75

Onto Innovation Inc. (NYSE:ONTO - Get Free Report) has received a consensus recommendation of "Moderate Buy" from the five analysts that are covering the company, MarketBeat reports. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $180.75.

Several research analysts have issued reports on the company. StockNews.com upgraded Onto Innovation from a "sell" rating to a "hold" rating in a research note on Monday, February 12th. Stifel Nicolaus upped their price target on Onto Innovation from $188.00 to $215.00 and gave the stock a "buy" rating in a research report on Monday, March 25th. Benchmark increased their price target on Onto Innovation from $145.00 to $180.00 and gave the company a "buy" rating in a research note on Friday, February 9th. Finally, B. Riley increased their price target on Onto Innovation from $195.00 to $205.00 and gave the company a "buy" rating in a research note on Friday, February 9th.

Insiders Place Their Bets

In other Onto Innovation news, VP Yoon Ah Oh sold 2,685 shares of the stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $173.96, for a total value of $467,082.60. Following the completion of the transaction, the vice president now directly owns 16,598 shares in the company, valued at $2,887,388.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Onto Innovation news, CEO Michael P. Plisinski sold 40,000 shares of the firm's stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $175.48, for a total value of $7,019,200.00. Following the completion of the sale, the chief executive officer now owns 235,492 shares of the company's stock, valued at $41,324,136.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Yoon Ah Oh sold 2,685 shares of Onto Innovation stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $173.96, for a total value of $467,082.60. Following the transaction, the vice president now directly owns 16,598 shares in the company, valued at approximately $2,887,388.08. The disclosure for this sale can be found here. Insiders have sold 47,170 shares of company stock worth $8,266,955 in the last 90 days. Company insiders own 0.81% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of ONTO. Fifth Third Bancorp boosted its position in Onto Innovation by 198.3% in the fourth quarter. Fifth Third Bancorp now owns 173 shares of the semiconductor company's stock worth $26,000 after purchasing an additional 115 shares during the last quarter. Contravisory Investment Management Inc. purchased a new stake in Onto Innovation during the 4th quarter valued at about $28,000. GAMMA Investing LLC purchased a new stake in Onto Innovation during the 4th quarter valued at about $33,000. Huntington National Bank raised its position in shares of Onto Innovation by 70.3% in the 3rd quarter. Huntington National Bank now owns 247 shares of the semiconductor company's stock worth $31,000 after acquiring an additional 102 shares in the last quarter. Finally, Parallel Advisors LLC raised its position in shares of Onto Innovation by 43.0% in the 4th quarter. Parallel Advisors LLC now owns 366 shares of the semiconductor company's stock worth $56,000 after acquiring an additional 110 shares in the last quarter. Hedge funds and other institutional investors own 98.35% of the company's stock.

Onto Innovation Trading Down 2.8 %

Onto Innovation stock traded down $5.32 during trading hours on Thursday, reaching $184.40. 597,501 shares of the company were exchanged, compared to its average volume of 423,282. The firm has a market cap of $9.06 billion, a price-to-earnings ratio of 75.05 and a beta of 1.40. Onto Innovation has a 12 month low of $76.40 and a 12 month high of $199.72. The stock has a 50-day moving average of $176.95 and a 200 day moving average of $150.61.

Onto Innovation (NYSE:ONTO - Get Free Report) last issued its earnings results on Thursday, February 8th. The semiconductor company reported $1.06 EPS for the quarter, topping the consensus estimate of $0.99 by $0.07. The firm had revenue of $219.00 million during the quarter, compared to analysts' expectations of $209.06 million. Onto Innovation had a return on equity of 10.95% and a net margin of 14.85%. Onto Innovation's quarterly revenue was down 13.5% compared to the same quarter last year. During the same period last year, the business earned $1.57 earnings per share. As a group, research analysts forecast that Onto Innovation will post 4.7 EPS for the current year.

Onto Innovation Company Profile

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.