Analysts Anticipate Onto Innovation (NASDAQ:ONTO) to Post $0.33 EPS

Shares of Onto Innovation (NASDAQ:ONTO) have been given an average broker rating score of 1.50 (Buy) from the six analysts that provide coverage for the stock, Zacks Investment Research reports. One equities research analyst has rated the stock with a hold rating, one has assigned a buy rating and four have assigned a strong buy rating to the company. Onto Innovation’s rating score has improved by 6.3% in the last 90 days as a result of various analysts’ ratings changes.

Brokerages have set a one year consensus price objective of $49.20 for the company and are forecasting that the company will post $0.33 EPS for the current quarter, according to Zacks. Zacks has also given Onto Innovation an industry rank of 16 out of 255 based on the ratings given to related companies.

Several analysts have issued reports on ONTO shares. Zacks Investment Research raised Onto Innovation from a “hold” rating to a “buy” rating and set a $43.00 target price on the stock in a research report on Thursday. Benchmark increased their target price on Onto Innovation from $40.00 to $50.00 and gave the company a “buy” rating in a research report on Friday, February 7th. B. Riley increased their target price on Onto Innovation from $47.00 to $53.00 and gave the company a “buy” rating in a research report on Friday, February 7th. TheStreet raised Onto Innovation from a “c+” rating to a “b-” rating in a research report on Monday, October 28th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $44.00 target price on shares of Onto Innovation in a research report on Tuesday, January 21st.

NASDAQ:ONTO traded up $0.36 during midday trading on Friday, hitting $39.63. The stock had a trading volume of 236,488 shares, compared to its average volume of 298,329. Onto Innovation has a one year low of $26.51 and a one year high of $42.50. The company’s 50-day simple moving average is $38.00.

Onto Innovation (NASDAQ:ONTO) last announced its earnings results on Thursday, February 6th. The company reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.02. The company had revenue of $120.56 million for the quarter, compared to the consensus estimate of $117.52 million. The firm’s revenue was up 92.0% compared to the same quarter last year. During the same period last year, the business posted $0.33 EPS.

In other Onto Innovation news, Director Bruce C. Rhine sold 80,000 shares of the stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $40.01, for a total transaction of $3,200,800.00. Following the sale, the director now owns 628,387 shares of the company’s stock, valued at approximately $25,141,763.87. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Onto Innovation Company Profile

Onto Innovation Inc designs, develops, manufactures, and supports process control defect inspection and metrology, advanced packaging lithography, and process control software systems used by microelectronic device manufacturers. It offers process and yield management solutions used in bare silicon wafer production and processing facilities, and device packaging and test facilities through standalone systems for macro-defect inspection, packaging lithography, probe card test and analysis, and transparent and opaque thin film measurements.

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