Onto Innovation (NYSE:ONTO - Get Free Report)'s stock had its "outperform" rating reissued by stock analysts at Oppenheimer in a note issued to investors on Tuesday,Benzinga reports. They currently have a $275.00 price target on the semiconductor company's stock. Oppenheimer's price objective would suggest a potential upside of 59.67% from the company's previous close.
Several other research firms have also recently issued reports on ONTO. Benchmark reaffirmed a "buy" rating and issued a $230.00 price target on shares of Onto Innovation in a report on Friday, November 1st. Needham & Company LLC cut their target price on Onto Innovation from $245.00 to $230.00 and set a "buy" rating on the stock in a research report on Friday, November 1st. Finally, Jefferies Financial Group reduced their target price on Onto Innovation from $265.00 to $245.00 and set a "buy" rating for the company in a report on Friday, November 1st. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $254.29.
Read Our Latest Analysis on Onto Innovation
Onto Innovation Trading Up 1.0 %
NYSE:ONTO traded up $1.68 during mid-day trading on Tuesday, reaching $172.23. 553,193 shares of the stock were exchanged, compared to its average volume of 595,904. The business has a fifty day moving average price of $182.41 and a 200 day moving average price of $198.04. Onto Innovation has a 1-year low of $134.11 and a 1-year high of $238.93. The firm has a market capitalization of $8.51 billion, a PE ratio of 46.40, a PEG ratio of 1.07 and a beta of 1.30.
Onto Innovation (NYSE:ONTO - Get Free Report) last announced its quarterly earnings data on Thursday, October 31st. The semiconductor company reported $1.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.31 by $0.03. Onto Innovation had a net margin of 19.44% and a return on equity of 13.38%. The company had revenue of $252.20 million for the quarter, compared to analysts' expectations of $250.85 million. During the same quarter in the previous year, the company posted $0.96 EPS. The business's revenue was up 21.7% compared to the same quarter last year. On average, sell-side analysts forecast that Onto Innovation will post 5.22 earnings per share for the current year.
Institutional Trading of Onto Innovation
Hedge funds have recently modified their holdings of the business. Quarry LP raised its position in Onto Innovation by 232.4% during the second quarter. Quarry LP now owns 113 shares of the semiconductor company's stock valued at $25,000 after buying an additional 79 shares during the period. Northwestern Mutual Wealth Management Co. grew its stake in Onto Innovation by 675.0% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 124 shares of the semiconductor company's stock valued at $27,000 after acquiring an additional 108 shares in the last quarter. LGT Financial Advisors LLC increased its holdings in shares of Onto Innovation by 58.1% in the 2nd quarter. LGT Financial Advisors LLC now owns 245 shares of the semiconductor company's stock valued at $54,000 after purchasing an additional 90 shares during the period. Fifth Third Bancorp lifted its position in shares of Onto Innovation by 40.2% in the second quarter. Fifth Third Bancorp now owns 293 shares of the semiconductor company's stock worth $64,000 after purchasing an additional 84 shares in the last quarter. Finally, Eastern Bank acquired a new stake in shares of Onto Innovation during the third quarter worth approximately $65,000. Hedge funds and other institutional investors own 98.35% of the company's stock.
Onto Innovation Company Profile
(
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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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