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

Onto Innovation Inc. (NYSE:ONTO - Get Free Report) has been given an average recommendation of "Moderate Buy" by the six brokerages that are currently covering the stock, Marketbeat Ratings reports. Two analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $141.67.

ONTO has been the topic of a number of research analyst reports. Jefferies Financial Group set a $110.00 target price on Onto Innovation and gave the stock a "hold" rating in a report on Tuesday, May 20th. Cantor Fitzgerald cut their price target on Onto Innovation from $110.00 to $90.00 and set a "neutral" rating on the stock in a research note on Tuesday, June 24th. Wall Street Zen upgraded Onto Innovation from a "sell" rating to a "hold" rating in a research note on Saturday, May 17th. Stifel Nicolaus cut their price target on Onto Innovation from $200.00 to $180.00 and set a "buy" rating on the stock in a research note on Tuesday, April 15th. Finally, Needham & Company LLC lowered their price objective on Onto Innovation from $230.00 to $150.00 and set a "buy" rating on the stock in a research report on Friday, May 9th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Commonwealth Equity Services LLC lifted its stake in Onto Innovation by 1.4% in the fourth quarter. Commonwealth Equity Services LLC now owns 16,083 shares of the semiconductor company's stock worth $2,680,000 after purchasing an additional 225 shares during the last quarter. Concurrent Investment Advisors LLC purchased a new position in Onto Innovation during the first quarter valued at approximately $217,000. GAMMA Investing LLC grew its holdings in Onto Innovation by 75.0% in the first quarter. GAMMA Investing LLC now owns 1,069 shares of the semiconductor company's stock worth $130,000 after purchasing an additional 458 shares during the last quarter. Oppenheimer & Co. Inc. purchased a new position in Onto Innovation in the first quarter worth $420,000. Finally, Oppenheimer Asset Management Inc. grew its holdings in Onto Innovation by 16.3% in the first quarter. Oppenheimer Asset Management Inc. now owns 7,211 shares of the semiconductor company's stock worth $875,000 after purchasing an additional 1,013 shares during the last quarter. Hedge funds and other institutional investors own 98.35% of the company's stock.

Onto Innovation Stock Up 0.2%

NYSE:ONTO traded up $0.22 during trading hours on Wednesday, hitting $98.47. 353,241 shares of the company's stock traded hands, compared to its average volume of 1,213,559. The business's fifty day simple moving average is $97.82 and its two-hundred day simple moving average is $131.76. Onto Innovation has a 52 week low of $85.88 and a 52 week high of $228.42. The firm has a market cap of $4.81 billion, a P/E ratio of 22.28, a P/E/G ratio of 0.63 and a beta of 1.45.

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