Brokerages Set Onto Innovation Inc. (NYSE:ONTO) Price Target at $220.63

Onto Innovation Inc. (NYSE:ONTO - Get Free Report) has been given a consensus recommendation of "Buy" by the eight brokerages that are covering the firm, MarketBeat.com reports. Eight analysts have rated the stock with a buy rating. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $218.13.

ONTO has been the topic of several research reports. Benchmark reaffirmed a "buy" rating and issued a $230.00 target price on shares of Onto Innovation in a research report on Friday, February 7th. Needham & Company LLC reaffirmed a "buy" rating and issued a $230.00 price objective on shares of Onto Innovation in a report on Friday, February 7th. StockNews.com raised Onto Innovation from a "sell" rating to a "hold" rating in a report on Thursday, February 27th. Oppenheimer decreased their price target on shares of Onto Innovation from $240.00 to $150.00 and set an "outperform" rating on the stock in a research note on Friday, April 11th. Finally, Stifel Nicolaus lowered their price target on shares of Onto Innovation from $200.00 to $180.00 and set a "buy" rating on the stock in a research report on Tuesday.

Onto Innovation Stock Performance

ONTO traded up $0.03 during trading hours on Monday, reaching $114.92. The company's stock had a trading volume of 613,059 shares, compared to its average volume of 792,568. The company's 50-day moving average is $135.91 and its 200-day moving average is $169.36. Onto Innovation has a 52 week low of $98.21 and a 52 week high of $238.93. The firm has a market cap of $5.61 billion, a PE ratio of 28.30, a price-to-earnings-growth ratio of 0.89 and a beta of 1.46.

Onto Innovation (NYSE:ONTO - Get Free Report) last issued its quarterly earnings data on Thursday, February 6th. The semiconductor company reported $1.51 earnings per share for the quarter, beating the consensus estimate of $1.41 by $0.10. Onto Innovation had a net margin of 20.43% and a return on equity of 14.24%. Equities analysts anticipate that Onto Innovation will post 6.26 earnings per share for the current fiscal year.

Insider Activity at Onto Innovation

In related news, CEO Michael P. Plisinski sold 35,000 shares of Onto Innovation stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $219.19, for a total value of $7,671,650.00. Following the transaction, the chief executive officer now directly owns 150,492 shares of the company's stock, valued at $32,986,341.48. This trade represents a 18.87 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.72% of the stock is owned by insiders.

Institutional Investors Weigh In On Onto Innovation

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. UMB Bank n.a. lifted its position in shares of Onto Innovation by 22.8% during the 4th quarter. UMB Bank n.a. now owns 398 shares of the semiconductor company's stock worth $66,000 after buying an additional 74 shares during the last quarter. Bridge City Capital LLC raised its stake in Onto Innovation by 1.0% during the fourth quarter. Bridge City Capital LLC now owns 8,165 shares of the semiconductor company's stock worth $1,361,000 after acquiring an additional 78 shares in the last quarter. CIBC Asset Management Inc lifted its holdings in shares of Onto Innovation by 5.6% in the fourth quarter. CIBC Asset Management Inc now owns 1,533 shares of the semiconductor company's stock worth $256,000 after acquiring an additional 81 shares during the last quarter. Hunter Perkins Capital Management LLC boosted its stake in shares of Onto Innovation by 3.9% in the 4th quarter. Hunter Perkins Capital Management LLC now owns 2,415 shares of the semiconductor company's stock valued at $403,000 after purchasing an additional 90 shares in the last quarter. Finally, Northwest & Ethical Investments L.P. grew its holdings in shares of Onto Innovation by 9.5% during the 4th quarter. Northwest & Ethical Investments L.P. now owns 1,150 shares of the semiconductor company's stock valued at $191,000 after purchasing an additional 100 shares during the last quarter. 98.35% of the stock is currently owned by institutional investors.

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.