Onto Innovation (NYSE:ONTO – Get Free Report) had its target price boosted by analysts at Oppenheimer from $260.00 to $275.00 in a research report issued on Friday, Benzinga reports. The brokerage presently has an “outperform” rating on the semiconductor company’s stock. Oppenheimer’s price target points to a potential upside of 56.16% from the company’s previous close.
ONTO has been the topic of a number of other research reports. Needham & Company LLC dropped their price target on Onto Innovation from $245.00 to $230.00 and set a “buy” rating on the stock in a research note on Friday. Benchmark reissued a “buy” rating and issued a $230.00 price objective on shares of Onto Innovation in a research report on Friday, August 9th. Finally, Stifel Nicolaus lifted their target price on shares of Onto Innovation from $240.00 to $270.00 and gave the stock a “buy” rating in a report on Monday, July 15th. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $254.29.
Check Out Our Latest Stock Analysis on Onto Innovation
Onto Innovation Price Performance
Onto Innovation (NYSE:ONTO – Get Free Report) last issued its earnings results on Thursday, October 31st. The semiconductor company reported $1.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.31 by $0.03. The business had revenue of $252.20 million during the quarter, compared to the consensus estimate of $250.85 million. Onto Innovation had a net margin of 19.44% and a return on equity of 13.61%. Onto Innovation’s revenue was up 21.7% on a year-over-year basis. During the same period last year, the business posted $0.96 EPS. As a group, equities research analysts anticipate that Onto Innovation will post 5.18 EPS for the current fiscal year.
Insider Buying and Selling
In other Onto Innovation news, SVP Srinivas Vedula sold 1,275 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $207.24, for a total transaction of $264,231.00. Following the completion of the transaction, the senior vice president now directly owns 16,050 shares in the company, valued at $3,326,202. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.72% of the stock is currently owned by company insiders.
Institutional Inflows and Outflows
Several institutional investors have recently bought and sold shares of ONTO. QRG Capital Management Inc. boosted its position in Onto Innovation by 2.7% in the second quarter. QRG Capital Management Inc. now owns 1,935 shares of the semiconductor company’s stock valued at $425,000 after buying an additional 50 shares in the last quarter. Magnetar Financial LLC lifted its holdings in Onto Innovation by 4.0% during the 2nd quarter. Magnetar Financial LLC now owns 1,622 shares of the semiconductor company’s stock worth $356,000 after buying an additional 63 shares during the period. Shaker Investments LLC OH grew its position in shares of Onto Innovation by 1.7% in the 2nd quarter. Shaker Investments LLC OH now owns 3,928 shares of the semiconductor company’s stock valued at $862,000 after buying an additional 64 shares during the last quarter. Quarry LP raised its position in shares of Onto Innovation by 232.4% during the second quarter. Quarry LP now owns 113 shares of the semiconductor company’s stock worth $25,000 after acquiring an additional 79 shares during the last quarter. Finally, Hunter Perkins Capital Management LLC lifted its stake in shares of Onto Innovation by 3.6% in the third quarter. Hunter Perkins Capital Management LLC now owns 2,325 shares of the semiconductor company’s stock worth $483,000 after acquiring an additional 80 shares during the period. Institutional investors and hedge funds own 98.35% of the company’s stock.
About Onto Innovation
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.
See Also
- Five stocks we like better than Onto Innovation
- Pros And Cons Of Monthly Dividend Stocks
- From PACs to Portfolios: Billionaire Bets and Investor Reactions
- Overbought Stocks Explained: Should You Trade Them?
- AppLovin Stock Quadruples: What’s Behind the Bullish Sentiment?
- About the Markup Calculator
- Battle of the Retailers: Who Comes Out on Top?
Receive News & Ratings for Onto Innovation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Onto Innovation and related companies with MarketBeat.com's FREE daily email newsletter.