After Needham and Benchmark Co. gave Onto Innovation (NYSE: ONTO) a Buy rating last month, the company received another Buy, this time from B.Riley FBR. Analyst Craig Ellis reiterated a Buy rating on Onto Innovation today and set a price target of $53.00. The company’s shares closed last Monday at $41.47, close to its 52-week high of $41.66.
According to TipRanks.com, Ellis is a 4-star analyst with an average return of 6.6% and a 55.0% success rate. Ellis covers the Consumer Goods sector, focusing on stocks such as Axcelis Technologies, Skyworks Solutions, and Applied Materials.
Onto Innovation has an analyst consensus of Strong Buy, with a price target consensus of $49.00, a 18.8% upside from current levels. In a report released today, Benchmark Co. also maintained a Buy rating on the stock with a $50.00 price target.
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The company has a one-year high of $41.66 and a one-year low of $26.51. Currently, Onto Innovation has an average volume of 285.7K.
Based on the recent corporate insider activity of 59 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 2019 and is headquartered in Wilmington, MA.
