Onto Innovation (NYSE:ONTO) Sees Unusually-High Trading Volume - What's Next?

Onto Innovation Inc. (NYSE:ONTO - Get Free Report) saw unusually-high trading volume on Monday . Approximately 1,409,161 shares were traded during trading, an increase of 67% from the previous session's volume of 845,504 shares.The stock last traded at $93.11 and had previously closed at $88.50.

Analyst Upgrades and Downgrades

ONTO has been the subject of several research analyst reports. StockNews.com lowered Onto Innovation from a "hold" rating to a "sell" rating in a research report on Friday, May 9th. Needham & Company LLC decreased their target price on Onto Innovation from $230.00 to $150.00 and set a "buy" rating for the company in a research report on Friday, May 9th. Stifel Nicolaus decreased their target price on Onto Innovation from $200.00 to $180.00 and set a "buy" rating for the company in a research report on Tuesday, April 15th. Jefferies Financial Group decreased their target price on Onto Innovation from $245.00 to $175.00 and set a "buy" rating for the company in a research report on Friday, March 28th. Finally, Benchmark decreased their target price on Onto Innovation from $230.00 to $190.00 and set a "buy" rating for the company in a research report on Friday, May 9th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $177.14.

Onto Innovation Stock Performance

The company has a market cap of $4.83 billion, a P/E ratio of 24.34, a P/E/G ratio of 0.89 and a beta of 1.55. The firm has a 50 day moving average price of $121.87 and a two-hundred day moving average price of $157.92.

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, topping the consensus estimate 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 the consensus estimate of $267.03 million. During the same quarter last year, the company earned $1.18 EPS. The firm's revenue was up 16.5% compared to the same quarter last year. On average, sell-side analysts predict that Onto Innovation Inc. will post 6.26 EPS for the current fiscal year.

Institutional Trading of Onto Innovation

A number of large investors have recently modified their holdings of ONTO. Kestra Investment Management LLC bought a new stake in shares of Onto Innovation during the 4th quarter valued at about $26,000. Mather Group LLC. grew its position in shares of Onto Innovation by 209.4% in 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 last quarter. MassMutual Private Wealth & Trust FSB boosted its position in shares of Onto Innovation by 177.6% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 236 shares of the semiconductor company's stock valued at $29,000 after purchasing an additional 151 shares in the last quarter. Banque Cantonale Vaudoise bought a new stake in shares of Onto Innovation during the first quarter valued at approximately $29,000. Finally, Migdal Insurance & Financial Holdings Ltd. boosted its position in shares of Onto Innovation by 79.4% during the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 244 shares of the semiconductor company's stock valued at $30,000 after purchasing an additional 108 shares in the last quarter. Institutional investors own 98.35% of the company's stock.

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.