Onto Innovation Inc. (NYSE:ONTO) Given Consensus Rating of "Moderate Buy" by Brokerages

Shares of Onto Innovation Inc. (NYSE:ONTO - Get Free Report) have been given a consensus rating of "Moderate Buy" by the six analysts that are presently covering the firm, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $141.67.

A number of equities research analysts recently commented on the company. Wall Street Zen raised Onto Innovation from a "sell" rating to a "hold" rating in a report on Saturday, May 17th. 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 report on Friday, May 9th. Cantor Fitzgerald cut their price objective on shares of Onto Innovation from $110.00 to $90.00 and set a "neutral" rating on the stock in a research note on Tuesday. Needham & Company LLC reduced their target price on shares of Onto Innovation from $230.00 to $150.00 and set a "buy" rating for the company in a report on Friday, May 9th. Finally, Oppenheimer decreased their target price on shares of Onto Innovation from $150.00 to $130.00 and set an "outperform" rating for the company in a research report on Friday, May 9th.

Institutional Investors Weigh In On Onto Innovation

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Truist Financial Corp boosted its holdings in Onto Innovation by 35.6% during the fourth quarter. Truist Financial Corp now owns 1,605 shares of the semiconductor company's stock worth $268,000 after buying an additional 421 shares in the last quarter. Proficio Capital Partners LLC acquired a new position in shares of Onto Innovation in the fourth quarter worth about $41,946,000. VELA Investment Management LLC raised its position in shares of Onto Innovation by 48.5% in the fourth quarter. VELA Investment Management LLC now owns 4,645 shares of the semiconductor company's stock worth $774,000 after acquiring an additional 1,517 shares during the period. Mutual of America Capital Management LLC boosted its stake in shares of Onto Innovation by 8.0% during the 4th quarter. Mutual of America Capital Management LLC now owns 47,588 shares of the semiconductor company's stock worth $7,931,000 after acquiring an additional 3,533 shares in the last quarter. Finally, Smartleaf Asset Management LLC grew its position in shares of Onto Innovation by 51.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 548 shares of the semiconductor company's stock valued at $92,000 after acquiring an additional 185 shares during the period. Institutional investors and hedge funds own 98.35% of the company's stock.

Onto Innovation Price Performance

Shares of ONTO opened at $98.66 on Friday. The firm has a market capitalization of $4.82 billion, a PE ratio of 22.32, a price-to-earnings-growth ratio of 0.65 and a beta of 1.45. Onto Innovation has a 1-year low of $85.88 and a 1-year high of $238.93. The company's fifty day moving average price is $103.68 and its 200-day moving average price is $141.10.

Onto Innovation (NYSE:ONTO - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The semiconductor company reported $1.51 EPS for the quarter, topping analysts' consensus estimates of $1.47 by $0.04. The company had revenue of $267.00 million during the quarter, compared to analysts' expectations of $267.03 million. Onto Innovation had a return on equity of 14.85% and a net margin of 21.36%. The firm's revenue was up 16.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.18 EPS. As a group, research analysts anticipate that Onto Innovation will post 6.26 EPS for the current fiscal 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.

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