Onto Innovation (NYSE:ONTO) Now Covered by Analysts at Jefferies Financial Group

Research analysts at Jefferies Financial Group began coverage on shares of Onto Innovation (NYSE:ONTO - Get Free Report) in a report issued on Monday, MarketBeat.com reports. The brokerage set a "buy" rating and a $265.00 price target on the semiconductor company's stock. Jefferies Financial Group's price objective would indicate a potential upside of 19.57% from the stock's current price.

Several other equities research analysts have also recently commented on ONTO. Evercore ISI lifted their target price on Onto Innovation from $235.00 to $250.00 and gave the company an "outperform" rating in a research note on Friday. Stifel Nicolaus upped their target price on shares of Onto Innovation from $188.00 to $215.00 and gave the company a "buy" rating in a research report on Monday, March 25th. Benchmark raised their target price on shares of Onto Innovation from $180.00 to $230.00 and gave the company a "buy" rating in a research note on Friday. StockNews.com raised shares of Onto Innovation from a "sell" rating to a "hold" rating in a research note on Monday, February 12th. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of Onto Innovation in a research note on Friday. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $242.00.

Onto Innovation Stock Performance

Onto Innovation stock traded down $2.73 during trading hours on Monday, hitting $221.62. 548,232 shares of the stock were exchanged, compared to its average volume of 443,225. Onto Innovation has a 12 month low of $88.03 and a 12 month high of $233.84. The business's 50-day moving average is $186.68 and its two-hundred day moving average is $162.71. The stock has a market capitalization of $10.89 billion, a P/E ratio of 79.00 and a beta of 1.40.

Onto Innovation (NYSE:ONTO - Get Free Report) last released its quarterly earnings results on Thursday, May 9th. The semiconductor company reported $1.18 earnings per share for the quarter, beating analysts' consensus estimates of $1.10 by $0.08. The firm had revenue of $228.80 million during the quarter, compared to analysts' expectations of $222.60 million. Onto Innovation had a return on equity of 11.48% and a net margin of 16.43%. The business's revenue was up 14.9% on a year-over-year basis. During the same period last year, the firm posted $0.92 EPS. On average, equities analysts predict that Onto Innovation will post 4.75 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director David Brian Miller sold 2,800 shares of the stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $170.49, for a total value of $477,372.00. Following the completion of the sale, the director now owns 9,008 shares of the company's stock, valued at approximately $1,535,773.92. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, Director David Brian Miller sold 2,800 shares of the firm's stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $170.49, for a total value of $477,372.00. Following the completion of the sale, the director now directly owns 9,008 shares in the company, valued at approximately $1,535,773.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Yoon Ah Oh sold 1,685 shares of the firm's stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $180.00, for a total value of $303,300.00. Following the completion of the sale, the vice president now directly owns 14,913 shares of the company's stock, valued at $2,684,340. The disclosure for this sale can be found here. In the last ninety days, insiders sold 47,170 shares of company stock valued at $8,266,955. Company insiders own 0.72% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Vontobel Holding Ltd. lifted its holdings in shares of Onto Innovation by 1.2% during the fourth quarter. Vontobel Holding Ltd. now owns 6,535 shares of the semiconductor company's stock worth $999,000 after buying an additional 75 shares in the last quarter. Campbell Newman Asset Management Inc. grew its position in shares of Onto Innovation by 0.4% during the 4th quarter. Campbell Newman Asset Management Inc. now owns 18,538 shares of the semiconductor company's stock worth $2,834,000 after purchasing an additional 78 shares in the last quarter. GAMMA Investing LLC grew its position in shares of Onto Innovation by 41.1% during the 1st quarter. GAMMA Investing LLC now owns 292 shares of the semiconductor company's stock worth $53,000 after purchasing an additional 85 shares in the last quarter. Natixis Advisors L.P. increased its holdings in shares of Onto Innovation by 0.5% during the fourth quarter. Natixis Advisors L.P. now owns 17,473 shares of the semiconductor company's stock worth $2,671,000 after purchasing an additional 90 shares during the period. Finally, Huntington National Bank raised its position in shares of Onto Innovation by 70.3% in the third quarter. Huntington National Bank now owns 247 shares of the semiconductor company's stock valued at $31,000 after buying an additional 102 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.