Onto Innovation (NYSE:ONTO) Given New $175.00 Price Target at Jefferies Financial Group

Onto Innovation (NYSE:ONTO - Free Report) had its price objective lowered by Jefferies Financial Group from $245.00 to $175.00 in a report released on Friday morning,Benzinga reports. Jefferies Financial Group currently has a buy rating on the semiconductor company's stock.

A number of other research firms also recently issued reports on ONTO. Oppenheimer reduced their price target on shares of Onto Innovation from $275.00 to $240.00 and set an "outperform" rating on the stock in a research report on Thursday, February 20th. Cantor Fitzgerald reiterated an "overweight" rating and set a $250.00 price objective on shares of Onto Innovation in a research report on Friday, February 7th. Needham & Company LLC reissued a "buy" rating and issued a $230.00 target price on shares of Onto Innovation in a research report on Friday, February 7th. Benchmark restated a "buy" rating and set a $230.00 price objective on shares of Onto Innovation in a research report on Friday, February 7th. Finally, StockNews.com raised shares of Onto Innovation from a "sell" rating to a "hold" rating in a research note on Thursday, February 27th. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, Onto Innovation presently has an average rating of "Moderate Buy" and an average price target of $231.88.

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Onto Innovation Stock Performance

NYSE ONTO traded up $0.83 during trading hours on Friday, hitting $122.17. 291,360 shares of the company's stock were exchanged, compared to its average volume of 736,464. Onto Innovation has a 12-month low of $116.16 and a 12-month high of $238.93. The business's 50 day moving average is $162.67 and its 200-day moving average is $178.19. The firm has a market capitalization of $6.02 billion, a P/E ratio of 30.09, a price-to-earnings-growth ratio of 0.89 and a beta of 1.29.

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

Insider Activity at Onto Innovation

In related news, CEO Michael P. Plisinski sold 35,000 shares of the 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 owns 150,492 shares in the company, valued at approximately $32,986,341.48. This trade represents a 18.87 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Srinivas Vedula sold 827 shares of the business's stock in a transaction that occurred on Wednesday, January 15th. The shares were 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 in the company, 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. In the last three months, insiders have sold 85,827 shares of company stock worth $18,182,185. 0.72% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of ONTO. Vanguard Group Inc. raised its stake in shares of Onto Innovation by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 5,166,137 shares of the semiconductor company's stock valued at $861,040,000 after acquiring an additional 76,233 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in Onto Innovation by 9.2% during the 4th quarter. JPMorgan Chase & Co. now owns 2,192,238 shares of the semiconductor company's stock worth $365,380,000 after acquiring an additional 183,839 shares during the period. Franklin Resources Inc. boosted its holdings in Onto Innovation by 21.2% during the fourth quarter. Franklin Resources Inc. now owns 1,553,271 shares of the semiconductor company's stock worth $258,883,000 after buying an additional 271,470 shares during the last quarter. Artisan Partners Limited Partnership increased its position in shares of Onto Innovation by 41.6% in the 4th quarter. Artisan Partners Limited Partnership now owns 1,515,152 shares of the semiconductor company's stock valued at $252,530,000 after buying an additional 444,860 shares in the last quarter. Finally, State Street Corp lifted its position in Onto Innovation by 2.8% in the 3rd quarter. State Street Corp now owns 1,469,969 shares of the semiconductor company's stock valued at $305,107,000 after acquiring an additional 39,367 shares in the last quarter. 98.35% of the stock is currently 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.