B. Riley Raises Onto Innovation (NYSE:ONTO) Price Target to $205.00

Onto Innovation (NYSE:ONTOFree Report) had its price objective raised by B. Riley from $195.00 to $205.00 in a research report sent to investors on Friday morning, Benzinga reports. They currently have a buy rating on the semiconductor company’s stock. B. Riley also issued estimates for Onto Innovation’s Q1 2024 earnings at $1.10 EPS, Q2 2024 earnings at $1.14 EPS, Q3 2024 earnings at $1.23 EPS, Q4 2024 earnings at $1.20 EPS, FY2024 earnings at $4.67 EPS, Q1 2025 earnings at $1.31 EPS, Q2 2025 earnings at $1.41 EPS, Q3 2025 earnings at $1.50 EPS, Q4 2025 earnings at $1.48 EPS and FY2025 earnings at $5.70 EPS.

Several other brokerages have also commented on ONTO. StockNews.com lowered Onto Innovation from a hold rating to a sell rating in a research note on Friday, January 19th. Benchmark reissued a buy rating and issued a $145.00 price objective on shares of Onto Innovation in a research report on Friday, November 10th. Finally, Stifel Nicolaus lifted their target price on shares of Onto Innovation from $135.00 to $150.00 and gave the company a buy rating in a report on Friday, November 10th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $164.50.

View Our Latest Research Report on Onto Innovation

Onto Innovation Trading Down 3.4 %

Onto Innovation stock opened at $173.90 on Friday. The stock has a fifty day moving average price of $153.02 and a 200 day moving average price of $135.37. Onto Innovation has a 52 week low of $76.01 and a 52 week high of $181.66. The firm has a market capitalization of $8.54 billion, a P/E ratio of 70.69 and a beta of 1.39.

Onto Innovation (NYSE:ONTOGet Free Report) last announced its quarterly earnings data on Thursday, February 8th. The semiconductor company reported $1.06 earnings per share for the quarter, topping the consensus estimate of $0.99 by $0.07. The business had revenue of $219.00 million for the quarter, compared to analyst estimates of $209.06 million. Onto Innovation had a net margin of 14.85% and a return on equity of 10.95%. The company’s revenue was down 13.5% on a year-over-year basis. During the same period in the prior year, the firm posted $1.57 EPS. As a group, equities analysts predict that Onto Innovation will post 4.67 EPS for the current year.

Institutional Trading of Onto Innovation

Large investors have recently modified their holdings of the business. Value Aligned Research Advisors LLC grew its stake in Onto Innovation by 38.2% during the 3rd quarter. Value Aligned Research Advisors LLC now owns 16,378 shares of the semiconductor company’s stock valued at $2,089,000 after purchasing an additional 4,528 shares in the last quarter. ProShare Advisors LLC raised its holdings in Onto Innovation by 4.9% in the second quarter. ProShare Advisors LLC now owns 9,019 shares of the semiconductor company’s stock valued at $1,050,000 after acquiring an additional 422 shares in the last quarter. Massachusetts Financial Services Co. MA bought a new position in Onto Innovation during the 3rd quarter valued at $34,678,000. Portside Wealth Group LLC acquired a new position in Onto Innovation in the second quarter worth about $889,000. Finally, Congress Asset Management Co. MA grew its position in shares of Onto Innovation by 3.9% in the 3rd quarter. Congress Asset Management Co. MA now owns 449,945 shares of the semiconductor company’s stock worth $57,377,000 after acquiring an additional 16,948 shares in the last quarter. 94.78% of the stock is currently owned by institutional investors and hedge funds.

About Onto Innovation

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Onto Innovation Inc engages in the design, development, manufacture, and support of process control tools that performs macro defect inspection and 2D/3D optical metrology, lithography systems, and process control analytical software worldwide. It offers process and yield management solutions, and device packaging and test facilities through standalone systems for optical metrology, macro-defect inspection, packaging lithography, and transparent and opaque thin film measurements; and process control software portfolio that includes solutions for standalone tools, groups of tools, and enterprise-or factory-wide suites.

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