Cantor Fitzgerald Begins Coverage on Onto Innovation (NYSE:ONTO)

Cantor Fitzgerald started coverage on shares of Onto Innovation (NYSE:ONTO - Free Report) in a research report released on Monday, Marketbeat Ratings reports. The firm issued an overweight rating and a $250.00 target price on the semiconductor company's stock.

Other equities analysts have also recently issued reports about the company. Benchmark reaffirmed a "buy" rating and issued a $230.00 target price on shares of Onto Innovation in a research report on Friday, November 1st. Needham & Company LLC decreased 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, November 1st. Jefferies Financial Group cut their price objective on Onto Innovation from $265.00 to $245.00 and set a "buy" rating on the stock in a research report on Friday, November 1st. Finally, Oppenheimer reiterated an "outperform" rating and issued a $275.00 price objective on shares of Onto Innovation in a research note on Tuesday, December 17th. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, Onto Innovation presently has a consensus rating of "Moderate Buy" and a consensus target price of $253.75.

Onto Innovation Stock Up 0.8 %

ONTO stock traded up $1.53 during mid-day trading on Monday, hitting $191.14. 588,357 shares of the company were exchanged, compared to its average volume of 722,465. The business has a fifty day simple moving average of $171.39 and a 200-day simple moving average of $192.08. The firm has a market capitalization of $9.44 billion, a P/E ratio of 51.80, a PEG ratio of 1.07 and a beta of 1.29. Onto Innovation has a 12-month low of $141.79 and a 12-month high of $238.93.

Onto Innovation (NYSE:ONTO - Get Free Report) last posted its quarterly earnings data on Thursday, October 31st. The semiconductor company reported $1.34 earnings per share for the quarter, topping analysts' consensus estimates of $1.31 by $0.03. Onto Innovation had a net margin of 19.44% and a return on equity of 13.38%. The firm had revenue of $252.20 million during the quarter, compared to analysts' expectations of $250.85 million. During the same quarter last year, the company posted $0.96 EPS. The firm's quarterly revenue was up 21.7% on a year-over-year basis. Research analysts predict that Onto Innovation will post 5.22 EPS for the current year.

Institutional Investors Weigh In On Onto Innovation

Institutional investors and hedge funds have recently bought and sold shares of the stock. Millennium Management LLC grew its position in shares of Onto Innovation by 304.9% during the second quarter. Millennium Management LLC now owns 447,844 shares of the semiconductor company's stock worth $98,329,000 after acquiring an additional 337,250 shares during the last quarter. Congress Asset Management Co. boosted its stake in Onto Innovation by 38.1% during the 3rd quarter. Congress Asset Management Co. now owns 1,072,796 shares of the semiconductor company's stock worth $222,670,000 after purchasing an additional 295,869 shares during the period. Citigroup Inc. grew its position in Onto Innovation by 811.7% during the 3rd quarter. Citigroup Inc. now owns 319,116 shares of the semiconductor company's stock worth $66,236,000 after purchasing an additional 284,115 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Onto Innovation by 12.9% in the third quarter. JPMorgan Chase & Co. now owns 2,008,399 shares of the semiconductor company's stock valued at $416,863,000 after buying an additional 228,800 shares during the last quarter. Finally, Barclays PLC boosted its stake in shares of Onto Innovation by 1,296.7% during the third quarter. Barclays PLC now owns 217,190 shares of the semiconductor company's stock worth $45,079,000 after buying an additional 201,640 shares during the period. 98.35% of the stock is owned by hedge funds and other institutional investors.

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.