Onto Innovation (NYSE:ONTO – Get Free Report) had its price objective boosted by Oppenheimer from $370.00 to $450.00 in a research note issued on Monday. The firm currently has an “outperform” rating on the semiconductor company’s stock. Oppenheimer’s price objective would indicate a potential upside of 34.97% from the company’s current price.
ONTO has been the topic of several other research reports. Evercore reaffirmed an “outperform” rating and set a $315.00 price target on shares of Onto Innovation in a research report on Friday, April 17th. Wall Street Zen raised shares of Onto Innovation from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. B. Riley Financial boosted their target price on shares of Onto Innovation from $275.00 to $310.00 and gave the stock a “buy” rating in a report on Monday, April 13th. Zacks Research lowered shares of Onto Innovation from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 15th. Finally, Cantor Fitzgerald increased their price target on shares of Onto Innovation from $275.00 to $300.00 and gave the company an “overweight” rating in a research note on Monday, April 6th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $328.60.
Read Our Latest Report on Onto Innovation
Onto Innovation Stock Performance
Onto Innovation (NYSE:ONTO – Get Free Report) last posted its quarterly earnings data on Tuesday, May 5th. The semiconductor company reported $1.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.38 by $0.04. Onto Innovation had a net margin of 10.32% and a return on equity of 11.68%. The company had revenue of $291.95 million for the quarter, compared to the consensus estimate of $292.00 million. During the same period last year, the company earned $1.51 earnings per share. The firm’s revenue was up 9.5% compared to the same quarter last year. On average, equities research analysts forecast that Onto Innovation will post 7.14 EPS for the current year.
Institutional Investors Weigh In On Onto Innovation
A number of institutional investors have recently made changes to their positions in ONTO. Pacer Advisors Inc. increased its stake in Onto Innovation by 8.7% during the 1st quarter. Pacer Advisors Inc. now owns 364,247 shares of the semiconductor company’s stock worth $74,696,000 after acquiring an additional 29,229 shares during the period. Parallel Advisors LLC lifted its position in shares of Onto Innovation by 16.5% during the 1st quarter. Parallel Advisors LLC now owns 395 shares of the semiconductor company’s stock valued at $81,000 after acquiring an additional 56 shares during the period. Cozad Asset Management Inc. acquired a new stake in shares of Onto Innovation during the 1st quarter worth $205,000. Bull Harbor Capital LLC bought a new position in shares of Onto Innovation in the first quarter worth $379,000. Finally, Arkadios Wealth Advisors bought a new position in shares of Onto Innovation in the first quarter worth $201,000. Institutional investors own 98.35% of the company’s stock.
About Onto Innovation
Onto Innovation (NYSE:ONTO) is a global supplier of advanced process control and inspection systems for semiconductor and electronics manufacturers. The company’s solutions span metrology, inspection, defect review and lithography mask repair, helping customers optimize yield, reduce costs and improve device performance. By integrating high-resolution optical and e-beam tools with sophisticated software analytics, Onto Innovation enables wafer, mask and advanced packaging producers to maintain tight process control across leading-edge nodes and specialty applications.
Key products include high-throughput wafer metrology systems, optical and e-beam defect inspection platforms, mask inspection and repair tools, and data-driven software for yield management and process optimization.
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