Onto Innovation (NYSE:ONTO) Earns Buy Rating from Needham & Company LLC

Onto Innovation (NYSE:ONTO)‘s stock had its “buy” rating restated by equities research analysts at Needham & Company LLC in a note issued to investors on Friday,Benzinga reports. They currently have a $230.00 price objective on the semiconductor company’s stock. Needham & Company LLC’s price objective suggests a potential upside of 9.08% from the stock’s previous close.

Other equities research analysts also recently issued reports about the stock. Jefferies Financial Group dropped their price target on shares of Onto Innovation from $265.00 to $245.00 and set a “buy” rating for the company in a research note on Friday, November 1st. Oppenheimer reaffirmed an “outperform” rating and set a $275.00 price objective on shares of Onto Innovation in a research note on Tuesday, December 17th. Cantor Fitzgerald initiated coverage on Onto Innovation in a research note on Monday, January 13th. They issued an “overweight” rating and a $250.00 target price on the stock. Finally, Benchmark restated a “buy” rating and set a $230.00 target price on shares of Onto Innovation in a report on Friday, November 1st. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, Onto Innovation presently has an average rating of “Moderate Buy” and a consensus target price of $253.75.

Onto Innovation Stock Up 0.6 %

Onto Innovation stock opened at $210.86 on Friday. The stock has a 50-day simple moving average of $184.54 and a 200 day simple moving average of $190.24. The stock has a market capitalization of $10.41 billion, a price-to-earnings ratio of 57.14, a P/E/G ratio of 1.06 and a beta of 1.31. Onto Innovation has a 12-month low of $145.15 and a 12-month high of $238.93.

Onto Innovation (NYSE:ONTO) last posted its quarterly earnings data on Thursday, February 6th. The semiconductor company reported $1.51 earnings per share for the quarter, topping the consensus estimate of $1.41 by $0.10. Onto Innovation had a net margin of 19.44% and a return on equity of 13.38%. As a group, sell-side analysts anticipate that Onto Innovation will post 5.22 EPS for the current year.

Insiders Place Their Bets

In related news, CEO Michael P. Plisinski sold 20,000 shares of the business’s stock in a transaction 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 sale, the chief executive officer now directly owns 215,492 shares of the company’s stock, valued at approximately $43,139,343.48. The trade was a 8.49 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Srinivas Vedula sold 827 shares of the business’s stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $205.00, for a total value 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 position. The disclosure for this sale can be found here. Insiders sold 85,827 shares of company stock worth $18,182,185 over the last ninety days. 0.72% of the stock is currently owned by corporate insiders.

Institutional Trading of Onto Innovation

Institutional investors and hedge funds have recently bought and sold shares of the stock. PNC Financial Services Group Inc. increased its holdings in Onto Innovation by 42.1% during the fourth quarter. PNC Financial Services Group Inc. now owns 6,342 shares of the semiconductor company’s stock worth $1,057,000 after buying an additional 1,878 shares during the last quarter. Edgestream Partners L.P. acquired a new position in shares of Onto Innovation during the 4th quarter worth about $4,330,000. Geneva Capital Management LLC raised its holdings in shares of Onto Innovation by 7.6% in the 4th quarter. Geneva Capital Management LLC now owns 1,010,691 shares of the semiconductor company’s stock valued at $168,452,000 after purchasing an additional 71,050 shares during the period. Raymond James Financial Inc. acquired a new stake in Onto Innovation in the 4th quarter valued at about $43,893,000. Finally, Arizona State Retirement System lifted its stake in Onto Innovation by 1.0% in the 4th quarter. Arizona State Retirement System now owns 14,332 shares of the semiconductor company’s stock valued at $2,389,000 after purchasing an additional 143 shares during the last quarter. Institutional investors 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.