Onto Innovation (NYSE:ONTO) Price Target Raised to $280.00

Onto Innovation (NYSE:ONTOFree Report) had its price objective boosted by B. Riley from $250.00 to $280.00 in a research note published on Thursday morning, Benzinga reports. They currently have a buy rating on the semiconductor company’s stock.

Other research analysts have also recently issued research reports about the company. Benchmark increased their price target on Onto Innovation from $180.00 to $230.00 and gave the stock a buy rating in a research note on Friday, May 10th. Jefferies Financial Group started coverage on Onto Innovation in a research note on Monday, May 13th. They issued a buy rating and a $265.00 price target for the company. Needham & Company LLC reissued a hold rating on shares of Onto Innovation in a research note on Friday, May 10th. Stifel Nicolaus increased their price target on Onto Innovation from $188.00 to $215.00 and gave the stock a buy rating in a research note on Monday, March 25th. Finally, Evercore ISI increased their price target on Onto Innovation from $235.00 to $250.00 and gave the stock an outperform rating in a research note on Friday, May 10th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus price target of $248.00.

Read Our Latest Stock Report on ONTO

Onto Innovation Price Performance

NYSE:ONTO opened at $216.40 on Thursday. Onto Innovation has a 12-month low of $103.93 and a 12-month high of $238.13. The firm has a market capitalization of $10.66 billion, a P/E ratio of 77.01 and a beta of 1.43. The business has a 50 day simple moving average of $210.54 and a 200 day simple moving average of $182.50.

Onto Innovation (NYSE:ONTOGet Free Report) last released its quarterly earnings data on Thursday, May 9th. The semiconductor company reported $1.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.10 by $0.08. Onto Innovation had a return on equity of 11.48% and a net margin of 16.43%. The business had revenue of $228.80 million during the quarter, compared to analyst estimates of $222.60 million. During the same quarter in the previous year, the firm posted $0.92 EPS. The business’s revenue for the quarter was up 14.9% compared to the same quarter last year. Research analysts anticipate that Onto Innovation will post 5.05 EPS for the current fiscal year.

Insider Activity

In other news, CFO Mark Slicer sold 519 shares of the company’s stock in a transaction on Thursday, June 6th. The stock was sold at an average price of $221.21, for a total value of $114,807.99. Following the completion of the sale, the chief financial officer now owns 12,552 shares in the company, valued at $2,776,627.92. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, CFO Mark Slicer sold 519 shares of the company’s stock in a transaction on Thursday, June 6th. The stock was sold at an average price of $221.21, for a total transaction of $114,807.99. Following the completion of the sale, the chief financial officer now directly owns 12,552 shares of the company’s stock, valued at $2,776,627.92. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Srinivas Vedula sold 1,486 shares of the company’s stock in a transaction on Monday, June 10th. The shares were sold at an average price of $213.40, for a total value of $317,112.40. Following the sale, the senior vice president now directly owns 17,433 shares of the company’s stock, valued at $3,720,202.20. The disclosure for this sale can be found here. Insiders own 0.72% of the company’s stock.

Institutional Investors Weigh In On Onto Innovation

Several hedge funds have recently modified their holdings of the stock. Swedbank AB purchased a new stake in Onto Innovation in the 1st quarter worth about $2,390,000. LRI Investments LLC purchased a new stake in Onto Innovation in the 1st quarter worth about $95,000. B. Riley Wealth Advisors Inc. lifted its stake in Onto Innovation by 5.9% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 3,817 shares of the semiconductor company’s stock worth $691,000 after acquiring an additional 212 shares in the last quarter. Silvercrest Asset Management Group LLC lifted its stake in Onto Innovation by 2.3% in the 1st quarter. Silvercrest Asset Management Group LLC now owns 71,529 shares of the semiconductor company’s stock worth $12,952,000 after acquiring an additional 1,580 shares in the last quarter. Finally, Caxton Associates LP purchased a new stake in Onto Innovation in the 1st quarter worth about $2,961,000. 98.35% of the stock is owned by hedge funds and other institutional investors.

Onto Innovation Company Profile

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Onto Innovation Inc engages in the design, development, manufacture, and support of process control tools that performs optical metrology. The company offers lithography systems and process control analytical software. It also 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.

Further Reading

Analyst Recommendations for Onto Innovation (NYSE:ONTO)

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