B.Riley FBR analyst Craig Ellis maintained a Buy rating on Onto Innovation (ONTO) today and set a price target of $40.00. The company’s shares closed last Monday at $30.50.
According to TipRanks.com, Ellis has 0 stars on 0-5 star ranking scale with an average return of -9.9% and a 30.2% success rate. Ellis covers the Consumer Goods sector, focusing on stocks such as Axcelis Technologies, Methode Electronics, and Skyworks Solutions.
Onto Innovation has an analyst consensus of Strong Buy, with a price target consensus of $44.67, implying a 52.8% upside from current levels. In a report issued on March 19, Needham also maintained a Buy rating on the stock with a $44.00 price target.
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Based on Onto Innovation’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $121 million and GAAP net loss of $17.75 million. In comparison, last year the company earned revenue of $62.78 million and had a net profit of $8.08 million.
Based on the recent corporate insider activity of 60 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of ONTO in relation to earlier this year.
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Onto Innovation, Inc. engages in developing process control systems. It offers process control, combining global scale with an expanded portfolio of technologies that include: 3D metrology spanning the chip from nanometer-scale transistors to micron-level die-interconnects, macro defect inspection of wafers and packages, metal interconnect composition, factory analytics, and lithography for advanced semiconductor packaging. The company was founded in 1940 and is headquartered in Wilmington, MA.
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