Brokerages Set Onto Innovation Inc. (NYSE:ONTO) PT at $246.88

Onto Innovation Inc. (NYSE:ONTO) has received a consensus recommendation of “Buy” from the eight analysts that are covering the stock, MarketBeat.com reports. Eight investment analysts have rated the stock with a buy recommendation. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $246.88.

ONTO has been the subject of a number of recent analyst reports. Oppenheimer reduced their price objective on shares of Onto Innovation from $275.00 to $240.00 and set an “outperform” rating for the company in a research report on Thursday, February 20th. StockNews.com raised Onto Innovation from a “sell” rating to a “hold” rating in a report on Thursday. 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, February 7th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $250.00 price objective on shares of Onto Innovation in a research report on Friday, February 7th. Finally, Needham & Company LLC restated a “buy” rating and set a $230.00 target price on shares of Onto Innovation in a research report on Friday, February 7th.

Insider Buying and Selling at Onto Innovation

In related news, SVP Srinivas Vedula sold 827 shares of Onto Innovation 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 transaction, the senior vice president now directly owns 15,223 shares in the company, valued at $3,120,715. The trade was a 5.15 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Michael P. Plisinski sold 35,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $219.19, for a total value of $7,671,650.00. Following the completion of the sale, the chief executive officer now directly owns 150,492 shares in the company, valued at approximately $32,986,341.48. The trade was a 18.87 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 85,827 shares of company stock valued at $18,182,185. Insiders own 0.72% of the company’s stock.

Hedge Funds Weigh In On Onto Innovation

A number of institutional investors have recently made changes to their positions in the stock. Blue Trust Inc. increased its position in Onto Innovation by 28,066.7% during the 3rd quarter. Blue Trust Inc. now owns 845 shares of the semiconductor company’s stock worth $186,000 after purchasing an additional 842 shares in the last quarter. Raymond James & Associates boosted its stake in shares of Onto Innovation by 106.7% during the 3rd quarter. Raymond James & Associates now owns 23,324 shares of the semiconductor company’s stock worth $4,841,000 after purchasing an additional 12,040 shares during the last quarter. Signaturefd LLC grew its holdings in shares of Onto Innovation by 33.2% during the third quarter. Signaturefd LLC now owns 999 shares of the semiconductor company’s stock worth $207,000 after buying an additional 249 shares in the last quarter. Eastern Bank acquired a new position in shares of Onto Innovation in the third quarter valued at approximately $65,000. Finally, Private Advisor Group LLC lifted its stake in shares of Onto Innovation by 17.1% during the third quarter. Private Advisor Group LLC now owns 2,195 shares of the semiconductor company’s stock valued at $455,000 after buying an additional 321 shares during the period. 98.35% of the stock is owned by institutional investors and hedge funds.

Onto Innovation Price Performance

Onto Innovation stock opened at $145.60 on Friday. The business has a 50 day simple moving average of $185.04 and a 200-day simple moving average of $188.35. Onto Innovation has a 12 month low of $141.50 and a 12 month high of $238.93. The stock has a market capitalization of $7.19 billion, a PE ratio of 35.86, a price-to-earnings-growth ratio of 0.89 and a beta of 1.31.

Onto Innovation (NYSE:ONTO) last announced its quarterly earnings data on Thursday, February 6th. The semiconductor company reported $1.51 EPS for the quarter, topping analysts’ consensus estimates of $1.41 by $0.10. Onto Innovation had a net margin of 20.43% and a return on equity of 14.24%. As a group, equities research analysts anticipate 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.