Onto Innovation Inc. (NYSE:ONTO) Receives Average Recommendation of "Moderate Buy" from Analysts

Shares of Onto Innovation Inc. (NYSE:ONTO - Get Free Report) have been assigned an average recommendation of "Moderate Buy" from the seven analysts that are currently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $177.14.

A number of research firms have weighed in on ONTO. Benchmark dropped their price objective on shares of Onto Innovation from $230.00 to $190.00 and set a "buy" rating on the stock in a research note on Friday. StockNews.com lowered Onto Innovation from a "hold" rating to a "sell" rating in a report on Friday. Cantor Fitzgerald reiterated a "neutral" rating and set a $135.00 price target (down previously from $250.00) on shares of Onto Innovation in a report on Monday, May 5th. Needham & Company LLC cut their price objective on shares of Onto Innovation from $230.00 to $150.00 and set a "buy" rating on the stock in a report on Friday. Finally, Oppenheimer lowered their target price on shares of Onto Innovation from $150.00 to $130.00 and set an "outperform" rating for the company in a report on Friday.

Onto Innovation Price Performance

Shares of NYSE:ONTO traded down $38.31 during mid-day trading on Friday, hitting $88.50. The company had a trading volume of 8,576,820 shares, compared to its average volume of 842,450. The company has a market capitalization of $4.32 billion, a PE ratio of 21.80, a price-to-earnings-growth ratio of 0.89 and a beta of 1.55. Onto Innovation has a one year low of $85.88 and a one year high of $238.93. The firm has a fifty day moving average price of $124.11 and a 200 day moving average price of $159.79.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ONTO. UMB Bank n.a. lifted its stake in Onto Innovation by 22.8% in the fourth quarter. UMB Bank n.a. now owns 398 shares of the semiconductor company's stock valued at $66,000 after purchasing an additional 74 shares during the last quarter. Bridge City Capital LLC grew its stake in shares of Onto Innovation by 1.0% during the 4th 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 during the period. CIBC Asset Management Inc increased its holdings in Onto Innovation by 5.6% in the 4th 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 raised its stake in 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 acquiring an additional 90 shares during the period. Finally, Jennison Associates LLC lifted its holdings in Onto Innovation by 2.9% during the first quarter. Jennison Associates LLC now owns 3,142 shares of the semiconductor company's stock valued at $381,000 after purchasing an additional 90 shares during the last quarter. 98.35% of the stock is currently owned by hedge funds and other 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.