Onto Innovation’s (ONTO) “Buy” Rating Reiterated at Benchmark

Benchmark reiterated their buy rating on shares of Onto Innovation (NYSE:ONTO) in a report released on Friday,Benzinga reports. The firm currently has a $230.00 price target on the semiconductor company’s stock.

Several other equities analysts have also weighed in on the stock. Cantor Fitzgerald reissued an “overweight” rating and issued a $250.00 price target on shares of Onto Innovation in a research note on Friday. Oppenheimer reissued an “outperform” rating and set a $275.00 target price on shares of Onto Innovation in a research note on Tuesday, December 17th. Stifel Nicolaus decreased their price target on Onto Innovation from $270.00 to $250.00 and set a “buy” rating on the stock in a research note on Friday. Needham & Company LLC reiterated a “buy” rating and set a $230.00 price target on shares of Onto Innovation in a report on Friday. Finally, Jefferies Financial Group decreased their price objective on shares of Onto Innovation from $265.00 to $245.00 and set a “buy” rating on the stock in a report on Friday, November 1st. One analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, Onto Innovation has a consensus rating of “Moderate Buy” and an average price target of $251.25.

Onto Innovation Price Performance

ONTO stock opened at $187.81 on Friday. Onto Innovation has a 1 year low of $145.15 and a 1 year high of $238.93. The firm has a market capitalization of $9.28 billion, a PE ratio of 46.26, a price-to-earnings-growth ratio of 1.09 and a beta of 1.31. The business has a 50 day simple moving average of $186.01 and a 200-day simple moving average of $190.08.

Onto Innovation (NYSE:ONTO) last issued its earnings results on Thursday, February 6th. The semiconductor company reported $1.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.41 by $0.10. Onto Innovation had a return on equity of 14.41% and a net margin of 20.43%. On average, equities research analysts expect that Onto Innovation will post 6.46 EPS for the current year.

Insider Activity at Onto Innovation

In related news, SVP Srinivas Vedula sold 827 shares of the business’s stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $205.00, for a total transaction of $169,535.00. Following the completion of the sale, the senior vice president now owns 15,223 shares in the company, valued at $3,120,715. The trade was a 5.15 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Michael P. Plisinski sold 20,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 14th. The shares were sold at an average price of $200.19, for a total value of $4,003,800.00. Following the completion of the transaction, the chief executive officer now directly owns 215,492 shares of the company’s stock, valued at $43,139,343.48. This trade represents a 8.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 85,827 shares of company stock worth $18,182,185. Corporate insiders own 0.72% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. UMB Bank n.a. lifted its position 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 acquiring an additional 74 shares during the last quarter. Northwest & Ethical Investments L.P. increased its position in shares of Onto Innovation by 7.8% during the third quarter. Northwest & Ethical Investments L.P. now owns 1,050 shares of the semiconductor company’s stock worth $218,000 after purchasing an additional 76 shares in the last quarter. Hunter Perkins Capital Management LLC lifted its holdings in shares of Onto Innovation by 3.6% in the 3rd quarter. Hunter Perkins Capital Management LLC now owns 2,325 shares of the semiconductor company’s stock valued at $483,000 after purchasing an additional 80 shares during the last quarter. CIBC Asset Management Inc boosted its position in shares of Onto Innovation by 5.6% in the 4th quarter. CIBC Asset Management Inc now owns 1,533 shares of the semiconductor company’s stock valued at $256,000 after purchasing an additional 81 shares during the period. Finally, Huntington National Bank grew its stake in Onto Innovation by 26.3% during the 3rd quarter. Huntington National Bank now owns 423 shares of the semiconductor company’s stock worth $88,000 after buying an additional 88 shares during the last quarter. 98.35% of the stock is 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.