Oppenheimer Cuts Onto Innovation (NYSE:ONTO) Price Target to $150.00

Onto Innovation (NYSE:ONTO - Free Report) had its target price decreased by Oppenheimer from $240.00 to $150.00 in a report published on Friday,Benzinga reports. Oppenheimer currently has an outperform rating on the semiconductor company's stock.

A number of other research firms have also weighed in on ONTO. StockNews.com raised Onto Innovation from a "sell" rating to a "hold" rating in a research note on Thursday, February 27th. Stifel Nicolaus set a $200.00 price objective on shares of Onto Innovation and gave the company a "buy" rating in a report on Friday, March 28th. Needham & Company LLC reiterated a "buy" rating and issued a $230.00 target price on shares of Onto Innovation in a report on Friday, February 7th. Cantor Fitzgerald restated an "overweight" rating and set a $250.00 price target on shares of Onto Innovation in a report on Friday, February 7th. Finally, Jefferies Financial Group decreased their price objective on Onto Innovation from $245.00 to $175.00 and set a "buy" rating on the stock in a report on Friday, March 28th. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $218.13.

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Onto Innovation Stock Down 0.4 %

Shares of NYSE ONTO traded down $0.45 during midday trading on Friday, hitting $120.32. The stock had a trading volume of 567,306 shares, compared to its average volume of 1,072,692. Onto Innovation has a 1 year low of $98.21 and a 1 year high of $238.93. The company has a market capitalization of $5.93 billion, a PE ratio of 29.63, a P/E/G ratio of 0.89 and a beta of 1.46. The stock has a 50 day simple moving average of $141.78 and a 200-day simple moving average of $171.33.

Onto Innovation (NYSE:ONTO - Get Free Report) last released its earnings results on Thursday, February 6th. The semiconductor company reported $1.51 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.41 by $0.10. Onto Innovation had a net margin of 20.43% and a return on equity of 14.24%. As a group, analysts expect that Onto Innovation will post 6.26 earnings per share for the current fiscal year.

Insider Transactions at Onto Innovation

In other Onto Innovation news, CEO Michael P. Plisinski sold 35,000 shares of the business's stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $219.19, for a total transaction of $7,671,650.00. Following the completion of the transaction, the chief executive officer now owns 150,492 shares in the company, valued at $32,986,341.48. The trade was a 18.87 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Srinivas Vedula sold 827 shares of the company's 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 transaction, the senior vice president now directly owns 15,223 shares of the company's stock, valued at approximately $3,120,715. This represents a 5.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 65,827 shares of company stock valued at $14,178,385. 0.72% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Onto Innovation

Hedge funds have recently made changes to their positions in the company. UMB Bank n.a. boosted its stake in Onto Innovation by 22.8% during the 4th quarter. UMB Bank n.a. now owns 398 shares of the semiconductor company's stock worth $66,000 after purchasing an additional 74 shares during the period. Bridge City Capital LLC boosted its stake in shares of 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 period. CIBC Asset Management Inc grew its holdings in shares of Onto Innovation by 5.6% during the fourth quarter. CIBC Asset Management Inc now owns 1,533 shares of the semiconductor company's stock worth $256,000 after buying an additional 81 shares during the last quarter. Hunter Perkins Capital Management LLC raised its stake in Onto Innovation by 3.9% during the 4th quarter. Hunter Perkins Capital Management LLC now owns 2,415 shares of the semiconductor company's stock valued at $403,000 after acquiring an additional 90 shares during the last quarter. Finally, Northwest & Ethical Investments L.P. lifted its position in Onto Innovation by 9.5% during the 4th quarter. Northwest & Ethical Investments L.P. now owns 1,150 shares of the semiconductor company's stock worth $191,000 after acquiring an additional 100 shares during the period. Hedge funds and other institutional investors own 98.35% of the company's stock.

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.