Onto Innovation (NYSE:ONTO) Price Target Cut to $250.00 by Analysts at Stifel Nicolaus

Onto Innovation (NYSE:ONTO - Get Free Report) had its price target cut by analysts at Stifel Nicolaus from $270.00 to $250.00 in a research note issued on Friday,Benzinga reports. The firm currently has a "buy" rating on the semiconductor company's stock. Stifel Nicolaus' price target points to a potential upside of 40.21% from the company's current price.

A number of other equities analysts have also recently commented on the stock. Benchmark reaffirmed a "buy" rating and set a $230.00 price target on shares of Onto Innovation in a research note on Friday, November 1st. Cantor Fitzgerald assumed coverage on Onto Innovation in a research report on Monday, January 13th. They set an "overweight" rating and a $250.00 target price for the company. Jefferies Financial Group reduced their price target on Onto Innovation from $265.00 to $245.00 and set a "buy" rating on the stock in a report on Friday, November 1st. Needham & Company LLC reissued a "buy" rating and set a $230.00 price target on shares of Onto Innovation in a research note on Friday. Finally, Oppenheimer reaffirmed an "outperform" rating and issued a $275.00 price objective on shares of Onto Innovation in a research report on Tuesday, December 17th. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, Onto Innovation presently has an average rating of "Moderate Buy" and a consensus price target of $251.25.

Onto Innovation Stock Down 2.7 %

ONTO traded down $4.98 on Friday, hitting $178.30. The company had a trading volume of 454,370 shares, compared to its average volume of 943,365. The business's fifty day simple moving average is $186.26 and its 200 day simple moving average is $189.99. Onto Innovation has a 12-month low of $145.15 and a 12-month high of $238.93. The company has a market cap of $8.81 billion, a PE ratio of 43.78, a PEG ratio of 1.09 and a beta of 1.31.

Onto Innovation (NYSE:ONTO - Get Free Report) last announced its earnings results on Thursday, February 6th. The semiconductor company reported $1.51 EPS for the quarter, topping analysts' consensus estimates of $1.41 by $0.10. Onto Innovation had a return on equity of 14.41% and a net margin of 20.43%. On average, analysts anticipate that Onto Innovation will post 6.46 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, SVP Srinivas Vedula sold 827 shares of the stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $205.00, for a total transaction of $169,535.00. Following the transaction, the senior vice president now directly owns 15,223 shares in the company, valued at approximately $3,120,715. This trade represents a 5.15 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Michael P. Plisinski sold 20,000 shares of Onto Innovation stock in a transaction that occurred on Tuesday, January 14th. The shares were sold at an average price of $200.19, for a total transaction of $4,003,800.00. Following the transaction, the chief executive officer now directly owns 215,492 shares in the company, valued at approximately $43,139,343.48. The trade was a 8.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 85,827 shares of company stock worth $18,182,185. 0.72% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Onto Innovation

A number of hedge funds have recently made changes to their positions in the stock. Cerity Partners LLC lifted its position in shares of Onto Innovation by 287.0% during the third quarter. Cerity Partners LLC now owns 4,663 shares of the semiconductor company's stock valued at $968,000 after buying an additional 3,458 shares during the last quarter. Geode Capital Management LLC lifted its position in Onto Innovation by 1.6% during the third quarter. Geode Capital Management LLC now owns 834,345 shares of the semiconductor company's stock valued at $173,401,000 after acquiring an additional 13,405 shares during the last quarter. JPMorgan Chase & Co. lifted its position in Onto Innovation by 12.9% during the third quarter. JPMorgan Chase & Co. now owns 2,008,399 shares of the semiconductor company's stock valued at $416,863,000 after acquiring an additional 228,800 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new stake in Onto Innovation in the third quarter valued at approximately $14,539,000. Finally, Northwestern Mutual Wealth Management Co. grew its holdings in Onto Innovation by 675.0% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 124 shares of the semiconductor company's stock worth $27,000 after purchasing an additional 108 shares during the last quarter. 98.35% of the stock is currently 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.