Onto Innovation Inc. (NYSE:ONTO) Receives $167.86 Consensus Target Price from Analysts

Onto Innovation Inc. (NYSE:ONTO - Get Free Report) has been assigned an average rating of "Moderate Buy" from the seven brokerages that are covering the stock, Marketbeat.com reports. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $167.86.

Several analysts recently weighed in on ONTO shares. Needham & Company LLC lowered their target price on Onto Innovation from $230.00 to $150.00 and set a "buy" rating on the stock in a report on Friday, May 9th. Wall Street Zen upgraded shares of Onto Innovation from a "sell" rating to a "hold" rating in a research note on Saturday, May 17th. Jefferies Financial Group set a $110.00 target price on shares of Onto Innovation and gave the stock a "hold" rating in a research report on Tuesday, May 20th. Cantor Fitzgerald reissued a "neutral" rating and issued a $135.00 price target (down from $250.00) on shares of Onto Innovation in a report on Monday, May 5th. Finally, Benchmark decreased their price target on shares of Onto Innovation from $230.00 to $190.00 and set a "buy" rating on the stock in a research report on Friday, May 9th.

Onto Innovation Stock Up 0.6%

ONTO stock traded up $0.59 during midday trading on Tuesday, hitting $96.10. 1,048,259 shares of the company traded hands, compared to its average volume of 1,254,571. Onto Innovation has a twelve month low of $85.88 and a twelve month high of $238.93. The stock has a market capitalization of $4.69 billion, a price-to-earnings ratio of 23.67, a price-to-earnings-growth ratio of 0.89 and a beta of 1.55. The business has a 50 day simple moving average of $110.94 and a 200-day simple moving average of $149.44.

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

Hedge Funds Weigh In On Onto Innovation

Hedge funds and other institutional investors have recently made changes to their positions in the business. Kestra Investment Management LLC bought a new position in Onto Innovation during the fourth quarter worth about $26,000. Mather Group LLC. lifted its position in shares of Onto Innovation by 209.4% during the 4th quarter. Mather Group LLC. now owns 164 shares of the semiconductor company's stock worth $27,000 after buying an additional 111 shares during the period. MassMutual Private Wealth & Trust FSB boosted its stake in Onto Innovation by 177.6% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 236 shares of the semiconductor company's stock valued at $29,000 after buying an additional 151 shares in the last quarter. Banque Cantonale Vaudoise bought a new stake in Onto Innovation in the first quarter valued at $29,000. Finally, Migdal Insurance & Financial Holdings Ltd. raised its stake in Onto Innovation by 79.4% during the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 244 shares of the semiconductor company's stock worth $30,000 after acquiring an additional 108 shares in the last quarter. 98.35% of the stock is owned by institutional investors.

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.