Onto Innovation (NYSE:ONTO) Price Target Cut to $245.00 by Analysts at Jefferies Financial Group

Onto Innovation (NYSE:ONTO) had its price target reduced by Jefferies Financial Group from $265.00 to $245.00 in a report released on Friday, Benzinga reports. Jefferies Financial Group currently has a buy rating on the semiconductor company’s stock.

ONTO has been the topic of a number of other reports. Needham & Company LLC decreased their price objective on Onto Innovation from $245.00 to $230.00 and set a “buy” rating on the stock in a report on Friday. Benchmark reiterated a “buy” rating and issued a $230.00 price target on shares of Onto Innovation in a research report on Friday. Stifel Nicolaus lifted their price objective on Onto Innovation from $240.00 to $270.00 and gave the company a “buy” rating in a report on Monday, July 15th. Finally, Oppenheimer boosted their target price on shares of Onto Innovation from $260.00 to $275.00 and gave the company an “outperform” rating in a research note on Friday. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $254.29.

Onto Innovation Trading Down 1.8 %

Shares of NYSE ONTO opened at $172.95 on Friday. Onto Innovation has a one year low of $117.44 and a one year high of $238.93. The business has a fifty day simple moving average of $201.79 and a 200 day simple moving average of $206.82. The firm has a market capitalization of $8.54 billion, a price-to-earnings ratio of 46.87, a PEG ratio of 1.28 and a beta of 1.37.

Onto Innovation (NYSE:ONTO) last released its quarterly earnings data on Thursday, October 31st. The semiconductor company reported $1.34 EPS for the quarter, topping analysts’ consensus estimates of $1.31 by $0.03. Onto Innovation had a net margin of 19.44% and a return on equity of 13.61%. The company had revenue of $252.20 million during the quarter, compared to the consensus estimate of $250.85 million. The firm’s revenue for the quarter was up 21.7% compared to the same quarter last year. During the same period last year, the firm earned $0.96 EPS. On average, research analysts anticipate that Onto Innovation will post 5.18 earnings per share for the current fiscal year.

Insider Activity at Onto Innovation

In other Onto Innovation news, SVP Srinivas Vedula sold 1,275 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $207.24, for a total value of $264,231.00. Following the transaction, the senior vice president now directly owns 16,050 shares in the company, valued at approximately $3,326,202. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.72% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Quarry LP raised its holdings in shares of Onto Innovation by 232.4% in the 2nd quarter. Quarry LP now owns 113 shares of the semiconductor company’s stock valued at $25,000 after purchasing an additional 79 shares during the period. Northwestern Mutual Wealth Management Co. grew its holdings in Onto Innovation by 675.0% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 124 shares of the semiconductor company’s stock valued at $27,000 after buying an additional 108 shares in the last quarter. Fidelis Capital Partners LLC bought a new position in Onto Innovation during the first quarter worth about $28,000. LGT Financial Advisors LLC raised its position in shares of Onto Innovation by 58.1% in the second quarter. LGT Financial Advisors LLC now owns 245 shares of the semiconductor company’s stock valued at $54,000 after buying an additional 90 shares in the last quarter. Finally, Fifth Third Bancorp lifted its position in shares of Onto Innovation by 40.2% during the 2nd quarter. Fifth Third Bancorp now owns 293 shares of the semiconductor company’s stock valued at $64,000 after acquiring an additional 84 shares during the period. 98.35% of the stock is currently owned by 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.