Onto Innovation (NYSE:ONTO – Get Free Report) had its target price increased by investment analysts at Benchmark from $145.00 to $180.00 in a research report issued on Friday, Benzinga reports. The firm currently has a “buy” rating on the semiconductor company’s stock. Benchmark’s target price points to a potential downside of 0.01% from the company’s previous close.
A number of other research analysts also recently issued reports on ONTO. StockNews.com downgraded Onto Innovation from a “hold” rating to a “sell” rating in a research note on Friday, January 19th. Stifel Nicolaus raised their price target on Onto Innovation from $135.00 to $150.00 and gave the stock a “buy” rating in a research note on Friday, November 10th. Finally, B. Riley raised their price target on Onto Innovation from $195.00 to $205.00 and gave the stock a “buy” rating in a research note on Friday. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, Onto Innovation presently has a consensus rating of “Moderate Buy” and a consensus target price of $164.50.
Onto Innovation Stock Performance
Onto Innovation (NYSE:ONTO – Get Free Report) last issued its earnings results on Thursday, February 8th. The semiconductor company reported $1.06 earnings per share for the quarter, topping the consensus estimate of $0.99 by $0.07. Onto Innovation had a return on equity of 11.08% and a net margin of 14.85%. The business had revenue of $219.00 million for the quarter, compared to analyst estimates of $209.06 million. During the same quarter last year, the company earned $1.57 EPS. The business’s quarterly revenue was down 13.5% on a year-over-year basis. On average, sell-side analysts forecast that Onto Innovation will post 4.6 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently modified their holdings of the stock. Fifth Third Bancorp grew its stake in shares of Onto Innovation by 198.3% in the 4th quarter. Fifth Third Bancorp now owns 173 shares of the semiconductor company’s stock valued at $26,000 after purchasing an additional 115 shares during the last quarter. Contravisory Investment Management Inc. purchased a new position in shares of Onto Innovation in the 4th quarter valued at approximately $28,000. Huntington National Bank grew its stake in shares of Onto Innovation by 70.3% in the 3rd quarter. Huntington National Bank now owns 247 shares of the semiconductor company’s stock valued at $31,000 after purchasing an additional 102 shares during the last quarter. GAMMA Investing LLC purchased a new position in shares of Onto Innovation in the 4th quarter valued at approximately $33,000. Finally, Public Employees Retirement System of Ohio grew its stake in shares of Onto Innovation by 51.3% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 516 shares of the semiconductor company’s stock valued at $33,000 after purchasing an additional 175 shares during the last quarter. 94.78% of the stock is currently owned by hedge funds and other institutional investors.
About Onto Innovation
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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