Onto Innovation (NYSE:ONTO) Research Coverage Started at Evercore ISI

Evercore ISI assumed coverage on shares of Onto Innovation (NYSE:ONTO) in a research note issued to investors on Tuesday, Marketbeat reports. The brokerage issued an outperform rating and a $235.00 price objective on the semiconductor company’s stock.

Other equities analysts have also recently issued research reports about the company. Benchmark lifted their price target on Onto Innovation from $145.00 to $180.00 and gave the stock a buy rating in a report on Friday, February 9th. Stifel Nicolaus lifted their price target on Onto Innovation from $188.00 to $215.00 and gave the stock a buy rating in a report on Monday, March 25th. B. Riley boosted their price objective on Onto Innovation from $195.00 to $205.00 and gave the stock a buy rating in a report on Friday, February 9th. Finally, StockNews.com upgraded Onto Innovation from a sell rating to a hold rating in a report on Monday, February 12th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of Moderate Buy and an average target price of $191.60.

Onto Innovation Stock Performance

NYSE:ONTO opened at $169.39 on Tuesday. The stock’s 50-day simple moving average is $181.80 and its 200 day simple moving average is $155.38. The company has a market cap of $8.32 billion, a P/E ratio of 68.86 and a beta of 1.40. Onto Innovation has a 52-week low of $76.40 and a 52-week high of $199.72.

Onto Innovation (NYSE:ONTO) last posted its quarterly 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 business had revenue of $219.00 million during the quarter, compared to analysts’ expectations of $209.06 million. During the same quarter last year, the company posted $1.57 earnings per share. Onto Innovation’s quarterly revenue was down 13.5% on a year-over-year basis. As a group, equities analysts predict that Onto Innovation will post 4.7 earnings per share for the current fiscal year.

Insider Activity

In other news, VP Yoon Ah Oh sold 2,685 shares of Onto Innovation stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $173.96, for a total value of $467,082.60. Following the completion of the sale, the vice president now directly owns 16,598 shares in the company, valued at $2,887,388.08. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, VP Yoon Ah Oh sold 2,685 shares of Onto Innovation stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $173.96, for a total value of $467,082.60. Following the completion of the sale, the vice president now directly owns 16,598 shares in the company, valued at $2,887,388.08. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Michael P. Plisinski sold 40,000 shares of Onto Innovation stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $175.48, for a total transaction of $7,019,200.00. Following the completion of the sale, the chief executive officer now owns 235,492 shares of the company’s stock, valued at $41,324,136.16. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 47,170 shares of company stock worth $8,266,955. Corporate insiders own 0.72% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in ONTO. JPMorgan Chase & Co. raised its position in Onto Innovation by 7.5% during the first quarter. JPMorgan Chase & Co. now owns 84,116 shares of the semiconductor company’s stock valued at $7,310,000 after purchasing an additional 5,850 shares in the last quarter. Citigroup Inc. raised its position in Onto Innovation by 5.4% during the first quarter. Citigroup Inc. now owns 52,277 shares of the semiconductor company’s stock valued at $4,543,000 after purchasing an additional 2,697 shares in the last quarter. AlphaCrest Capital Management LLC raised its position in Onto Innovation by 88.7% during the first quarter. AlphaCrest Capital Management LLC now owns 3,963 shares of the semiconductor company’s stock valued at $344,000 after purchasing an additional 1,863 shares in the last quarter. Bank of Montreal Can raised its position in Onto Innovation by 23.3% during the first quarter. Bank of Montreal Can now owns 15,977 shares of the semiconductor company’s stock valued at $1,392,000 after purchasing an additional 3,015 shares in the last quarter. Finally, MetLife Investment Management LLC raised its position in Onto Innovation by 55.5% during the first quarter. MetLife Investment Management LLC now owns 26,215 shares of the semiconductor company’s stock valued at $2,278,000 after purchasing an additional 9,352 shares in the last quarter. 98.35% of the stock is currently owned by institutional investors and hedge funds.

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.