Onto Innovation Inc. (NYSE: ONTO)’s stock price has increased by 5.38 compared to its previous closing price of 203.51. However, the company has seen a 5.61% increase in its stock price over the last five trading sessions. zacks.com reported 2024-09-20 that In the latest trading session, Onto Innovation (ONTO) closed at $199.91, marking a -1.56% move from the previous day.
Is It Worth Investing in Onto Innovation Inc. (NYSE: ONTO) Right Now?
Onto Innovation Inc. (NYSE: ONTO) has a higher price-to-earnings ratio of 64.06x compared to its average ratio. ONTO has 36-month beta value of 1.36. Analysts have mixed views on the stock, with 4 analysts rating it as a “buy,” 2 as “overweight,” 1 as “hold,” and 0 as “sell.”
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The public float for ONTO is 48.97M, and currently, short sellers hold a 1.98% ratio of that float. The average trading volume of ONTO on September 26, 2024 was 740.46K shares.
ONTO’s Market Performance
ONTO stock saw an increase of 5.61% in the past week, with a monthly gain of 1.97% and a quarterly increase of -2.52%. The volatility ratio for the week is 3.80%, and the volatility levels for the last 30 days are 4.15% for Onto Innovation Inc. (ONTO). The simple moving average for the last 20 days is 10.19% for ONTO stock, with a simple moving average of 13.30% for the last 200 days.
Analysts’ Opinion of ONTO
Many brokerage firms have already submitted their reports for ONTO stocks, with Oppenheimer repeating the rating for ONTO by listing it as a “Outperform.” The predicted price for ONTO in the upcoming period, according to Oppenheimer is $260 based on the research report published on September 25, 2024 of the current year 2024.
Jefferies gave a rating of “Buy” to ONTO, setting the target price at $265 in the report published on May 13th of the current year.
ONTO Trading at 10.01% from the 50-Day Moving Average
After a stumble in the market that brought ONTO to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -10.24% of loss for the given period.
Volatility was left at 4.15%, however, over the last 30 days, the volatility rate increased by 3.80%, as shares surge +5.23% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +5.10% upper at present.
During the last 5 trading sessions, ONTO rose by +7.15%, which changed the moving average for the period of 200-days by +56.32% in comparison to the 20-day moving average, which settled at $195.17. In addition, Onto Innovation Inc. saw 40.26% in overturn over a single year, with a tendency to cut further gains.
Insider Trading
Reports are indicating that there were more than several insider trading activities at ONTO starting from Vedula Srinivas, who sale 1,275 shares at the price of $207.24 back on Sep 03 ’24. After this action, Vedula Srinivas now owns 16,050 shares of Onto Innovation Inc., valued at $264,231 using the latest closing price.
SRINIVAS VEDULA, the Officer of Onto Innovation Inc., proposed sale 1,275 shares at $207.24 during a trade that took place back on Sep 03 ’24, which means that SRINIVAS VEDULA is holding shares at $264,231 based on the most recent closing price.
Stock Fundamentals for ONTO
Current profitability levels for the company are sitting at:
- 0.19 for the present operating margin
- 0.49 for the gross margin
The net margin for Onto Innovation Inc. stands at 0.19. The total capital return value is set at 0.09. Equity return is now at value 9.52, with 8.68 for asset returns.
Based on Onto Innovation Inc. (ONTO), the company’s capital structure generated 0.01 points at debt to capital in total, while cash flow to debt ratio is standing at 12.02. The debt to equity ratio resting at 0.01. The interest coverage ratio of the stock is 53.99.
Currently, EBITDA for the company is 193.89 million with net debt to EBITDA at -0.71. When we switch over and look at the enterprise to sales, we see a ratio of 11.88. The receivables turnover for the company is 3.77for trailing twelve months and the total asset turnover is 0.45. The liquidity ratio also appears to be rather interesting for investors as it stands at 9.33.
Conclusion
To put it simply, Onto Innovation Inc. (ONTO) has had a better performance in recent times. Analysts have a bullish opinion on the stock, with some rating it as a “buy” and others as a “hold”. It is worth mentioning that the stock is currently trading in close proximity to its 50-day moving average and its 52-week high.
