Onto Innovation’s (ONTO) “Buy” Rating Reaffirmed at Needham & Company LLC

Onto Innovation (NYSE:ONTO)‘s stock had its “buy” rating restated by equities researchers at Needham & Company LLC in a research report issued on Friday,Benzinga reports. They presently have a $230.00 price target on the semiconductor company’s stock. Needham & Company LLC’s price target would indicate a potential upside of 9.08% from the stock’s current price.

ONTO has been the topic of a number of other research reports. Oppenheimer restated an “outperform” rating and set a $275.00 target price on shares of Onto Innovation in a research report on Tuesday, December 17th. Jefferies Financial Group reduced their price target on shares of Onto Innovation from $265.00 to $245.00 and set a “buy” rating on the stock in a research report on Friday, November 1st. Cantor Fitzgerald assumed coverage on Onto Innovation in a research report on Monday, January 13th. They issued an “overweight” rating and a $250.00 target price on the stock. Finally, Benchmark reissued a “buy” rating and set a $230.00 price objective on shares of Onto Innovation in a report on Friday, November 1st. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s 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 Trading Up 0.6 %

NYSE:ONTO 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 cap of $10.41 billion, a P/E ratio of 57.14, a PEG ratio of 1.06 and a beta of 1.31. Onto Innovation has a 1-year low of $145.15 and a 1-year high of $238.93.

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

Insider Transactions at Onto Innovation

In other news, CEO Michael P. Plisinski sold 30,000 shares of the stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $211.24, for a total value of $6,337,200.00. Following the completion of the sale, the chief executive officer now directly owns 185,492 shares of the company’s stock, valued at $39,183,330.08. This represents a 13.92 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Srinivas Vedula sold 827 shares of the firm’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 transaction, the senior vice president now owns 15,223 shares in the company, valued at $3,120,715. This represents a 5.15 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 85,827 shares of company stock valued at $18,182,185 in the last 90 days. 0.72% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Onto Innovation

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Kestra Investment Management LLC bought a new stake in shares of Onto Innovation in the 4th quarter worth $26,000. Northwestern Mutual Wealth Management Co. increased its stake in shares of Onto Innovation by 675.0% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 124 shares of the semiconductor company’s stock worth $27,000 after purchasing an additional 108 shares in the last quarter. Mather Group LLC. boosted its holdings in 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 period. Versant Capital Management Inc boosted its holdings in shares of Onto Innovation by 532.4% in the fourth quarter. Versant Capital Management Inc now owns 234 shares of the semiconductor company’s stock worth $39,000 after acquiring an additional 197 shares during the period. Finally, SBI Securities Co. Ltd. bought a new stake in shares of Onto Innovation during the fourth quarter valued at about $43,000. 98.35% of the stock is owned by hedge funds and other institutional investors.

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.