Onto Innovation (NYSE:ONTO) Given New $180.00 Price Target at Benchmark

Onto Innovation (NYSE:ONTOFree 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.

View Our Latest Analysis on Onto Innovation

Onto Innovation Stock Down 3.4 %

NYSE:ONTO opened at $173.90 on Friday. The business’s 50-day simple moving average is $153.02 and its two-hundred day simple moving average is $135.37. The stock has a market cap of $8.54 billion, a PE ratio of 70.69 and a beta of 1.39. Onto Innovation has a 52 week low of $76.01 and a 52 week high of $181.66.

Onto Innovation (NYSE:ONTOGet 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

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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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