Onto Innovation (NYSE:ONTO) Earns Outperform Rating from Analysts at Evercore ISI

Evercore ISI began coverage on shares of Onto Innovation (NYSE:ONTO) in a report published on Tuesday morning, Marketbeat Ratings reports. The firm issued an outperform rating and a $235.00 price objective on the semiconductor company’s stock.

A number of other brokerages also recently commented on ONTO. Benchmark upped their target price on Onto Innovation from $145.00 to $180.00 and gave the stock a buy rating in a research note on Friday, February 9th. Stifel Nicolaus upped their target price on Onto Innovation from $188.00 to $215.00 and gave the stock a buy rating in a research note on Monday, March 25th. StockNews.com upgraded Onto Innovation from a sell rating to a hold rating in a research note on Monday, February 12th. Finally, B. Riley increased their price target on Onto Innovation from $195.00 to $205.00 and gave the stock a buy rating in a research report on Friday, February 9th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus price target of $191.60.

Onto Innovation Stock Performance

Onto Innovation stock opened at $177.70 on Tuesday. The business’s 50-day simple moving average is $182.01 and its two-hundred day simple moving average is $155.09. The company has a market cap of $8.73 billion, a PE ratio of 72.24 and a beta of 1.40. Onto Innovation has a fifty-two week low of $76.40 and a fifty-two week high of $199.72.

Onto Innovation (NYSE:ONTO) last issued its earnings results on Thursday, February 8th. The semiconductor company reported $1.06 EPS for the quarter, topping analysts’ consensus estimates of $0.99 by $0.07. Onto Innovation had a return on equity of 10.95% and a net margin of 14.85%. The firm had revenue of $219.00 million for the quarter, compared to the consensus estimate of $209.06 million. During the same quarter in the prior year, the business earned $1.57 earnings per share. The company’s revenue was down 13.5% compared to the same quarter last year. As a group, analysts predict that Onto Innovation will post 4.7 EPS for the current fiscal year.

Insiders Place Their Bets

In other Onto Innovation news, Director David Brian Miller sold 2,800 shares of the stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $170.49, for a total transaction of $477,372.00. Following the transaction, the director now owns 9,008 shares in the company, valued at $1,535,773.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Onto Innovation news, CEO Michael P. Plisinski sold 40,000 shares of the stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $175.48, for a total transaction of $7,019,200.00. Following the completion of the transaction, the chief executive officer now owns 235,492 shares of the company’s stock, valued at $41,324,136.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director David Brian Miller sold 2,800 shares of the stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $170.49, for a total value of $477,372.00. Following the transaction, the director now directly owns 9,008 shares of the company’s stock, valued at approximately $1,535,773.92. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 47,170 shares of company stock worth $8,266,955. 0.72% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Onto Innovation

A number of hedge funds have recently made changes to their positions in the company. Vontobel Holding Ltd. raised its holdings in shares of Onto Innovation by 1.2% during the fourth quarter. Vontobel Holding Ltd. now owns 6,535 shares of the semiconductor company’s stock valued at $999,000 after acquiring an additional 75 shares during the last quarter. Stephens Inc. AR increased its holdings in shares of Onto Innovation by 10.1% in the fourth quarter. Stephens Inc. AR now owns 840 shares of the semiconductor company’s stock valued at $128,000 after purchasing an additional 77 shares during the last quarter. Campbell Newman Asset Management Inc. increased its holdings in shares of Onto Innovation by 0.4% in the fourth quarter. Campbell Newman Asset Management Inc. now owns 18,538 shares of the semiconductor company’s stock valued at $2,834,000 after purchasing an additional 78 shares during the last quarter. Integrated Wealth Concepts LLC increased its holdings in shares of Onto Innovation by 3.4% in the third quarter. Integrated Wealth Concepts LLC now owns 2,554 shares of the semiconductor company’s stock valued at $326,000 after purchasing an additional 84 shares during the last quarter. Finally, GAMMA Investing LLC increased its holdings in shares of Onto Innovation by 41.1% in the first quarter. GAMMA Investing LLC now owns 292 shares of the semiconductor company’s stock valued at $53,000 after purchasing an additional 85 shares during the last quarter. Institutional investors and hedge funds own 98.35% of the company’s stock.

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.