Onto Innovation (NASDAQ:ONTO) Earns Buy Rating from Analysts at Needham & Company LLC

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

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

Shares of ONTO stock traded down $0.25 during trading on Thursday, hitting $34.82. The company had a trading volume of 719,100 shares, compared to its average volume of 226,223. Onto Innovation has a one year low of $25.52 and a one year high of $38.60.

Onto Innovation (NASDAQ:ONTO) last released its quarterly earnings data on Thursday, November 7th. The company reported $0.30 earnings per share for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.05). The company had revenue of $73.10 million for the quarter, compared to analyst estimates of $75.40 million. During the same period last year, the company earned $0.47 EPS. The company’s quarterly revenue was down 4.6% compared to the same quarter last year.

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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