Cantor Fitzgerald Reiterates Overweight Rating for Onto Innovation (NYSE:ONTO)

Onto Innovation (NYSE:ONTO - Get Free Report)'s stock had its "overweight" rating reissued by analysts at Cantor Fitzgerald in a report issued on Friday,Benzinga reports. They currently have a $250.00 price target on the semiconductor company's stock. Cantor Fitzgerald's target price would suggest a potential upside of 41.92% from the company's current price. Cantor Fitzgerald also issued estimates for Onto Innovation's FY2025 earnings at $6.40 EPS.

ONTO has been the subject of several other reports. Stifel Nicolaus lowered their target price on Onto Innovation from $270.00 to $250.00 and set a "buy" rating for the company in a research note on Friday. Jefferies Financial Group lowered their target price on Onto Innovation from $265.00 to $245.00 and set a "buy" rating for the company in a research note on Friday, November 1st. Needham & Company LLC reaffirmed a "buy" rating and set a $230.00 price objective on shares of Onto Innovation in a research note on Friday. Benchmark reaffirmed a "buy" rating and set a $230.00 price objective on shares of Onto Innovation in a research note on Friday, November 1st. Finally, Oppenheimer reaffirmed an "outperform" rating and set a $275.00 price objective on shares of Onto Innovation in a research note on Tuesday, December 17th. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $251.25.

Onto Innovation Stock Down 3.9 %

ONTO stock traded down $7.13 during midday trading on Friday, reaching $176.15. 938,713 shares of the company's stock traded hands, compared to its average volume of 961,974. The company has a 50-day simple moving average of $186.26 and a two-hundred day simple moving average of $189.99. Onto Innovation has a 1-year low of $145.15 and a 1-year high of $238.93. The company has a market cap of $8.70 billion, a price-to-earnings ratio of 43.39, a PEG ratio of 1.09 and a beta of 1.31.

Onto Innovation (NYSE:ONTO - Get Free Report) last released its earnings results on Thursday, February 6th. The semiconductor company reported $1.51 EPS for the quarter, beating the consensus estimate of $1.41 by $0.10. Onto Innovation had a return on equity of 14.41% and a net margin of 20.43%. Equities research analysts forecast that Onto Innovation will post 6.46 EPS for the current year.

Insiders Place Their Bets

In related news, SVP Srinivas Vedula sold 827 shares of Onto Innovation stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $205.00, for a total value of $169,535.00. Following the sale, the senior vice president now owns 15,223 shares of the company's stock, valued at approximately $3,120,715. The trade was a 5.15 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Michael P. Plisinski sold 35,000 shares of Onto Innovation stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $219.19, for a total value of $7,671,650.00. Following the completion of the sale, the chief executive officer now directly owns 150,492 shares in the company, valued at approximately $32,986,341.48. This represents a 18.87 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 85,827 shares of company stock worth $18,182,185. Corporate insiders own 0.72% of the company's stock.

Institutional Trading of Onto Innovation

Hedge funds and other institutional investors have recently modified their holdings of the stock. EFG Asset Management North America Corp. increased its position in Onto Innovation by 99.2% during the fourth quarter. EFG Asset Management North America Corp. now owns 18,970 shares of the semiconductor company's stock worth $3,160,000 after buying an additional 9,448 shares during the last quarter. Segall Bryant & Hamill LLC increased its position in Onto Innovation by 4.6% during the fourth quarter. Segall Bryant & Hamill LLC now owns 113,664 shares of the semiconductor company's stock worth $18,944,000 after buying an additional 4,988 shares during the last quarter. Prudential Financial Inc. increased its position in Onto Innovation by 12.0% during the fourth quarter. Prudential Financial Inc. now owns 330,584 shares of the semiconductor company's stock worth $55,098,000 after buying an additional 35,307 shares during the last quarter. Vanguard Group Inc. increased its position in Onto Innovation by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 5,166,137 shares of the semiconductor company's stock worth $861,040,000 after buying an additional 76,233 shares during the last quarter. Finally, Bridge City Capital LLC increased its position in Onto Innovation by 1.0% during the fourth quarter. Bridge City Capital LLC now owns 8,165 shares of the semiconductor company's stock worth $1,361,000 after buying an additional 78 shares during the last quarter. Institutional investors and hedge funds own 98.35% of the company's stock.

About Onto Innovation

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.