Onto Innovation (NASDAQ:ONTO) Receives New Coverage from Analysts at Needham & Company LLC

Needham & Company LLC started coverage on shares of Onto Innovation (NASDAQ:ONTO) in a research report released on Thursday morning, The Fly reports. The firm issued a buy rating and a $47.00 target price on the stock.

Separately, TheStreet raised shares of Onto Innovation from a c+ rating to a b- rating in a research note on Monday, October 28th.

Shares of NASDAQ:ONTO traded down $0.25 during midday trading on Thursday, reaching $34.82. The company’s stock had a trading volume of 719,100 shares, compared to its average volume of 226,223. Onto Innovation has a twelve month low of $25.52 and a twelve month high of $38.60.

Onto Innovation (NASDAQ:ONTO) last posted its quarterly earnings results on Thursday, November 7th. The company reported $0.30 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.35 by ($0.05). The firm had revenue of $73.10 million for the quarter, compared to analysts’ expectations of $75.40 million. The company’s quarterly revenue was down 4.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.47 earnings per share.

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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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