Onto Innovation Inc. (NYSE:ONTO - Get Free Report)'s stock price traded up 7% during mid-day trading on Monday . The company traded as high as $194.25 and last traded at $192.59. 66,568 shares changed hands during trading, a decline of 85% from the average session volume of 450,255 shares. The stock had previously closed at $180.03.
Wall Street Analysts Forecast Growth
Several brokerages have recently weighed in on ONTO. Oppenheimer reaffirmed an "outperform" rating and set a $275.00 price target on shares of Onto Innovation in a research note on Tuesday, December 17th. 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. Jefferies Financial Group decreased their price objective on Onto Innovation from $265.00 to $245.00 and set a "buy" rating for the company in a report on Friday, November 1st. Finally, Needham & Company LLC dropped their target price on Onto Innovation from $245.00 to $230.00 and set a "buy" rating on the stock in a report on Friday, November 1st. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to data from MarketBeat, Onto Innovation has an average rating of "Moderate Buy" and an average price target of $254.29.
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Onto Innovation Trading Up 6.9 %
The company has a market capitalization of $9.50 billion, a P/E ratio of 52.15, a P/E/G ratio of 1.07 and a beta of 1.29. The company has a 50 day moving average price of $171.80 and a 200 day moving average price of $193.18.
Onto Innovation (NYSE:ONTO - Get Free Report) last released its quarterly earnings data on Thursday, October 31st. The semiconductor company reported $1.34 EPS for the quarter, beating the consensus estimate of $1.31 by $0.03. The firm had revenue of $252.20 million for the quarter, compared to the consensus estimate of $250.85 million. Onto Innovation had a net margin of 19.44% and a return on equity of 13.38%. The company's quarterly revenue was up 21.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.96 earnings per share. As a group, sell-side analysts forecast that Onto Innovation Inc. will post 5.22 EPS for the current fiscal year.
Hedge Funds Weigh In On Onto Innovation
A number of large investors have recently made changes to their positions in the company. Quarry LP grew its position in shares of Onto Innovation by 232.4% during the 2nd quarter. Quarry LP now owns 113 shares of the semiconductor company's stock worth $25,000 after purchasing an additional 79 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Onto Innovation by 675.0% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 124 shares of the semiconductor company's stock valued at $27,000 after buying an additional 108 shares during the period. Versant Capital Management Inc increased its stake in Onto Innovation by 532.4% during the 4th quarter. Versant Capital Management Inc now owns 234 shares of the semiconductor company's stock worth $39,000 after acquiring an additional 197 shares during the period. Eastern Bank acquired a new position in Onto Innovation in the 3rd quarter valued at $65,000. Finally, UMB Bank n.a. grew its holdings in shares of Onto Innovation by 62.0% during the 3rd quarter. UMB Bank n.a. now owns 324 shares of the semiconductor company's stock worth $67,000 after purchasing an additional 124 shares in the last quarter. Institutional investors own 98.35% of the company's stock.
About Onto Innovation
(
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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.
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