Benchmark Increases Onto Innovation (NYSE:ONTO) Price Target to $180.00

Onto Innovation (NYSE:ONTOFree Report) had its price target boosted by Benchmark from $145.00 to $180.00 in a report released on Friday, Benzinga reports. The brokerage currently has a buy rating on the semiconductor company’s stock.

Other equities analysts also recently issued research reports about the company. B. Riley upped their price target on Onto Innovation from $195.00 to $205.00 and gave the stock a buy rating in a research report on Friday. StockNews.com lowered Onto Innovation from a hold rating to a sell rating in a report on Friday, January 19th. Finally, Stifel Nicolaus increased their target price on Onto Innovation from $135.00 to $150.00 and gave the stock a buy rating in a report on Friday, November 10th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of Moderate Buy and a consensus price target of $164.50.

View Our Latest Stock Report on Onto Innovation

Onto Innovation Price Performance

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

Onto Innovation (NYSE:ONTOGet Free Report) last announced its earnings results on Thursday, February 8th. The semiconductor company reported $1.06 earnings per share for the quarter, beating analysts’ consensus estimates of $0.99 by $0.07. Onto Innovation had a return on equity of 10.95% and a net margin of 14.85%. The company had revenue of $219.00 million during the quarter, compared to analyst estimates of $209.06 million. During the same period last year, the company posted $1.57 earnings per share. The firm’s quarterly revenue was down 13.5% compared to the same quarter last year. Equities research analysts anticipate that Onto Innovation will post 4.67 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ONTO. Value Aligned Research Advisors LLC boosted its stake in shares of Onto Innovation by 38.2% in the 3rd quarter. Value Aligned Research Advisors LLC now owns 16,378 shares of the semiconductor company’s stock worth $2,089,000 after buying an additional 4,528 shares during the last quarter. ProShare Advisors LLC raised its holdings in Onto Innovation by 4.9% in the 2nd quarter. ProShare Advisors LLC now owns 9,019 shares of the semiconductor company’s stock worth $1,050,000 after purchasing an additional 422 shares during the period. Massachusetts Financial Services Co. MA bought a new position in Onto Innovation in the 3rd quarter worth $34,678,000. Portside Wealth Group LLC bought a new position in Onto Innovation in the 2nd quarter worth $889,000. Finally, Congress Asset Management Co. MA raised its holdings in 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 purchasing an additional 16,948 shares during the period. Institutional investors own 94.78% of the company’s stock.

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.

Further Reading

Analyst Recommendations for Onto Innovation (NYSE:ONTO)

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