Onto Innovation (NYSE:ONTO – Free Report) had its target price upped by Benchmark from $145.00 to $180.00 in a report issued on Friday morning, Benzinga reports. Benchmark currently has a buy rating on the semiconductor company’s stock.
Several other analysts have also commented on ONTO. StockNews.com lowered shares of Onto Innovation from a hold rating to a sell rating in a research report on Friday, January 19th. Stifel Nicolaus lifted their price target on shares of Onto Innovation from $135.00 to $150.00 and gave the company a buy rating in a research report on Friday, November 10th. Finally, B. Riley boosted their target price on Onto Innovation from $195.00 to $205.00 and gave the company a buy rating in a research report on Friday. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of Moderate Buy and an average price target of $164.50.
Onto Innovation Stock Down 3.4 %
Onto Innovation (NYSE:ONTO – Get Free Report) last issued its quarterly earnings data on Thursday, February 8th. The semiconductor company reported $1.06 EPS for the quarter, topping analysts’ consensus estimates of $0.99 by $0.07. The company had revenue of $219.00 million during the quarter, compared to the consensus estimate of $209.06 million. Onto Innovation had a net margin of 14.85% and a return on equity of 10.95%. Onto Innovation’s revenue for the quarter was down 13.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.57 earnings per share. Sell-side analysts anticipate that Onto Innovation will post 4.67 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Onto Innovation
A number of large investors have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. grew its holdings in Onto Innovation by 7.5% during the 1st quarter. JPMorgan Chase & Co. now owns 84,116 shares of the semiconductor company’s stock worth $7,310,000 after acquiring an additional 5,850 shares in the last quarter. Citigroup Inc. boosted its holdings in shares of Onto Innovation by 5.4% in the 1st quarter. Citigroup Inc. now owns 52,277 shares of the semiconductor company’s stock valued at $4,543,000 after buying an additional 2,697 shares during the period. AlphaCrest Capital Management LLC boosted its holdings in shares of Onto Innovation by 88.7% in the 1st quarter. AlphaCrest Capital Management LLC now owns 3,963 shares of the semiconductor company’s stock valued at $344,000 after buying an additional 1,863 shares during the period. Bank of Montreal Can boosted its holdings in shares of Onto Innovation by 23.3% in the 1st quarter. Bank of Montreal Can now owns 15,977 shares of the semiconductor company’s stock valued at $1,392,000 after buying an additional 3,015 shares during the period. Finally, MetLife Investment Management LLC boosted its holdings in shares of Onto Innovation by 55.5% in the 1st quarter. MetLife Investment Management LLC now owns 26,215 shares of the semiconductor company’s stock valued at $2,278,000 after buying an additional 9,352 shares during the period. 94.78% 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 macro defect inspection and 2D/3D optical metrology, lithography systems, and process control analytical software worldwide. It 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; and process control software portfolio that includes solutions for standalone tools, groups of tools, and enterprise-or factory-wide suites.
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