Onto Innovation (NYSE:ONTO) Given Outperform Rating at Oppenheimer

Oppenheimer reiterated their outperform rating on shares of Onto Innovation (NYSE:ONTO) in a research report released on Tuesday morning,Benzinga reports. Oppenheimer currently has a $275.00 price target on the semiconductor company’s stock.

A number of other brokerages have also recently issued reports on ONTO. Jefferies Financial Group reduced their price objective on Onto Innovation from $265.00 to $245.00 and set a “buy” rating for the company in a report on Friday, November 1st. Benchmark reaffirmed a “buy” rating and issued a $230.00 price objective on shares of Onto Innovation in a report on Friday, November 1st. Finally, Needham & Company LLC dropped their target price on Onto Innovation from $245.00 to $230.00 and set a “buy” rating for the company in a report on Friday, November 1st. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $254.29.

Onto Innovation Trading Down 1.6 %

ONTO stock opened at $167.50 on Tuesday. The business’s 50 day simple moving average is $180.04 and its 200 day simple moving average is $197.33. Onto Innovation has a 1-year low of $134.11 and a 1-year high of $238.93. The firm has a market capitalization of $8.27 billion, a PE ratio of 45.39, a PEG ratio of 1.07 and a beta of 1.30.

Onto Innovation (NYSE:ONTO) last issued its quarterly earnings data on Thursday, October 31st. The semiconductor company reported $1.34 earnings per share for the quarter, beating the consensus estimate of $1.31 by $0.03. The company had revenue of $252.20 million for the quarter, compared to analyst estimates of $250.85 million. Onto Innovation had a net margin of 19.44% and a return on equity of 13.38%. The company’s revenue was up 21.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.96 earnings per share. As a group, sell-side analysts predict that Onto Innovation will post 5.22 EPS for the current fiscal year.

Institutional Trading of Onto Innovation

Several large investors have recently modified their holdings of ONTO. Oddo BHF Asset Management Sas acquired a new position in Onto Innovation in the third quarter valued at about $1,429,000. Franklin Resources Inc. increased its holdings in Onto Innovation by 4.5% in the 3rd quarter. Franklin Resources Inc. now owns 1,281,801 shares of the semiconductor company’s stock valued at $288,320,000 after buying an additional 54,868 shares during the period. Sanctuary Advisors LLC raised its position in shares of Onto Innovation by 108.3% in the 3rd quarter. Sanctuary Advisors LLC now owns 2,370 shares of the semiconductor company’s stock valued at $492,000 after buying an additional 1,232 shares in the last quarter. Morse Asset Management Inc lifted its holdings in shares of Onto Innovation by 6.4% during the 3rd quarter. Morse Asset Management Inc now owns 16,749 shares of the semiconductor company’s stock worth $3,476,000 after acquiring an additional 1,010 shares during the period. Finally, Coldstream Capital Management Inc. boosted its position in shares of Onto Innovation by 26.8% during the 3rd quarter. Coldstream Capital Management Inc. now owns 2,052 shares of the semiconductor company’s stock worth $411,000 after acquiring an additional 434 shares in the last quarter. 98.35% 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 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.