Onto Innovation (NYSE:ONTO) Price Target Raised to $275.00 at Oppenheimer

Onto Innovation (NYSE:ONTO) had its target price upped by Oppenheimer from $260.00 to $275.00 in a research report sent to investors on Friday, Benzinga reports. They currently have an outperform rating on the semiconductor company’s stock.

ONTO has been the subject of several other research reports. Needham & Company LLC lowered their price target on shares of Onto Innovation from $245.00 to $230.00 and set a “buy” rating for the company in a research report on Friday. Benchmark restated a “buy” rating and issued a $230.00 target price on shares of Onto Innovation in a research report on Friday, August 9th. Finally, Stifel Nicolaus boosted their price objective on Onto Innovation from $240.00 to $270.00 and gave the stock a “buy” rating in a research report on Monday, July 15th. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $254.29.

Onto Innovation Price Performance

Shares of NYSE:ONTO traded down $22.23 during trading on Friday, reaching $176.10. 1,839,738 shares of the company’s stock traded hands, compared to its average volume of 568,196. Onto Innovation has a 12 month low of $115.07 and a 12 month high of $238.93. The company has a 50 day moving average of $202.50 and a 200-day moving average of $206.56. The stock has a market capitalization of $8.70 billion, a P/E ratio of 52.52, a price-to-earnings-growth ratio of 1.33 and a beta of 1.36.

Onto Innovation (NYSE:ONTO) last issued its earnings results on Thursday, October 31st. The semiconductor company reported $1.34 EPS for the quarter, beating analysts’ consensus estimates of $1.31 by $0.03. Onto Innovation had a return on equity of 12.71% and a net margin of 18.50%. The company had revenue of $252.20 million during the quarter, compared to the consensus estimate of $250.85 million. During the same period in the previous year, the firm posted $0.96 earnings per share. Onto Innovation’s quarterly revenue was up 21.7% compared to the same quarter last year. Equities research analysts predict that Onto Innovation will post 5.18 earnings per share for the current fiscal year.

Insider Transactions at Onto Innovation

In other news, SVP Srinivas Vedula sold 1,275 shares of Onto Innovation stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $207.24, for a total transaction of $264,231.00. Following the transaction, the senior vice president now directly owns 16,050 shares in the company, valued at approximately $3,326,202. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.72% of the company’s stock.

Institutional Investors Weigh In On Onto Innovation

A number of institutional investors and hedge funds have recently bought and sold shares of ONTO. Assetmark Inc. increased its holdings in shares of Onto Innovation by 2.4% in the third quarter. Assetmark Inc. now owns 40,773 shares of the semiconductor company’s stock valued at $8,463,000 after buying an additional 938 shares in the last quarter. TFB Advisors LLC raised its position in shares of Onto Innovation by 6.4% during the third quarter. TFB Advisors LLC now owns 2,290 shares of the semiconductor company’s stock worth $475,000 after purchasing an additional 138 shares during the period. Portside Wealth Group LLC lifted its holdings in shares of Onto Innovation by 49.1% during the third quarter. Portside Wealth Group LLC now owns 1,557 shares of the semiconductor company’s stock valued at $323,000 after purchasing an additional 513 shares during the last quarter. Asset Management One Co. Ltd. acquired a new position in shares of Onto Innovation in the 3rd quarter valued at $176,000. Finally, Van ECK Associates Corp increased its stake in Onto Innovation by 28.5% in the 3rd quarter. Van ECK Associates Corp now owns 586 shares of the semiconductor company’s stock worth $118,000 after purchasing an additional 130 shares in the last quarter. 98.35% of the stock is owned by institutional investors and hedge funds.

Onto Innovation Company Profile

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.