Benchmark Lowers Onto Innovation (NYSE:ONTO) Price Target to $190.00

Onto Innovation (NYSE:ONTO) had its target price reduced by Benchmark from $230.00 to $190.00 in a research note issued to investors on Friday morning,Benzinga reports. They currently have a buy rating on the semiconductor company’s stock.

Other equities research analysts have also recently issued research reports about the company. Stifel Nicolaus decreased their target price on Onto Innovation from $200.00 to $180.00 and set a “buy” rating for the company in a research report on Tuesday, April 15th. StockNews.com raised shares of Onto Innovation from a “sell” rating to a “hold” rating in a report on Thursday, February 27th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $135.00 target price (down previously from $250.00) on shares of Onto Innovation in a report on Monday, May 5th. Oppenheimer decreased their price target on shares of Onto Innovation from $240.00 to $150.00 and set an “outperform” rating for the company in a report on Friday, April 11th. Finally, Jefferies Financial Group lowered their price target on Onto Innovation from $245.00 to $175.00 and set a “buy” rating on the stock in a research report on Friday, March 28th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $186.25.

Onto Innovation Stock Down 30.2 %

Shares of ONTO opened at $88.50 on Friday. Onto Innovation has a 12 month low of $85.88 and a 12 month high of $238.93. The company’s fifty day moving average is $124.11 and its 200-day moving average is $160.08. The firm has a market cap of $4.32 billion, a price-to-earnings ratio of 21.80, a price-to-earnings-growth ratio of 0.89 and a beta of 1.55.

Onto Innovation (NYSE:ONTO) last posted its earnings results on Thursday, May 8th. The semiconductor company reported $1.51 earnings per share for the quarter, beating the consensus estimate of $1.47 by $0.04. The company had revenue of $267.00 million for the quarter, compared to analyst estimates of $267.03 million. Onto Innovation had a return on equity of 14.24% and a net margin of 20.43%. The business’s revenue was up 16.5% compared to the same quarter last year. During the same period last year, the company earned $1.18 earnings per share. As a group, research analysts predict that Onto Innovation will post 6.26 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Onto Innovation

Institutional investors have recently added to or reduced their stakes in the company. Kestra Investment Management LLC acquired a new position in Onto Innovation in the fourth quarter worth about $26,000. Mather Group LLC. raised its holdings in shares of Onto Innovation by 209.4% in the 4th quarter. Mather Group LLC. now owns 164 shares of the semiconductor company’s stock worth $27,000 after buying an additional 111 shares in the last quarter. MassMutual Private Wealth & Trust FSB lifted its position in shares of Onto Innovation by 177.6% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 236 shares of the semiconductor company’s stock worth $29,000 after buying an additional 151 shares during the period. Banque Cantonale Vaudoise acquired a new stake in Onto Innovation in the 1st quarter valued at $29,000. Finally, Migdal Insurance & Financial Holdings Ltd. grew its position in Onto Innovation by 79.4% in the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 244 shares of the semiconductor company’s stock valued at $30,000 after acquiring an additional 108 shares during the period. 98.35% of the stock is 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.