Onto Innovation (NYSE:ONTO) Receives “Overweight” Rating from Cantor Fitzgerald

Cantor Fitzgerald reissued their overweight rating on shares of Onto Innovation (NYSE:ONTOFree Report) in a research note issued to investors on Friday morning,Benzinga reports. Cantor Fitzgerald currently has a $250.00 target price on the semiconductor company’s stock. Cantor Fitzgerald also issued estimates for Onto Innovation’s FY2025 earnings at $6.40 EPS.

ONTO has been the subject of a number of other reports. Oppenheimer reissued an “outperform” rating and issued a $275.00 target price on shares of Onto Innovation in a report on Tuesday, December 17th. Benchmark reaffirmed a “buy” rating and issued a $230.00 target price on shares of Onto Innovation in a report on Friday, November 1st. Jefferies Financial Group cut their price target on shares of Onto Innovation from $265.00 to $245.00 and set a “buy” rating for the company in a report on Friday, November 1st. Needham & Company LLC reaffirmed a “buy” rating and set a $230.00 price objective on shares of Onto Innovation in a research note on Friday. Finally, Stifel Nicolaus cut their target price on shares of Onto Innovation from $270.00 to $250.00 and set a “buy” rating for the company in a research note on Friday. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $251.25.

View Our Latest Research Report on Onto Innovation

Onto Innovation Trading Down 10.8 %

Shares of Onto Innovation stock opened at $187.81 on Friday. Onto Innovation has a 1 year low of $145.15 and a 1 year high of $238.93. The company’s fifty day simple moving average is $186.01 and its 200-day simple moving average is $190.08. The company has a market cap of $9.28 billion, a price-to-earnings ratio of 46.26, a PEG ratio of 1.09 and a beta of 1.31.

Onto Innovation (NYSE:ONTOGet Free Report) last released its earnings results on Thursday, February 6th. The semiconductor company reported $1.51 earnings per share for the quarter, topping analysts’ consensus estimates of $1.41 by $0.10. Onto Innovation had a return on equity of 14.41% and a net margin of 20.43%. As a group, research analysts forecast that Onto Innovation will post 6.46 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Onto Innovation news, SVP Srinivas Vedula sold 827 shares of the stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $205.00, for a total value of $169,535.00. Following the transaction, the senior vice president now directly owns 15,223 shares in the company, valued at approximately $3,120,715. This trade represents a 5.15 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Michael P. Plisinski sold 20,000 shares of the business’s stock in a transaction on Tuesday, January 14th. The stock was sold at an average price of $200.19, for a total value of $4,003,800.00. Following the sale, the chief executive officer now owns 215,492 shares of the company’s stock, valued at approximately $43,139,343.48. The trade was a 8.49 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 85,827 shares of company stock valued at $18,182,185. Insiders own 0.72% of the company’s stock.

Institutional Trading of Onto Innovation

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Cerity Partners LLC boosted its stake in shares of Onto Innovation by 287.0% in the 3rd quarter. Cerity Partners LLC now owns 4,663 shares of the semiconductor company’s stock valued at $968,000 after purchasing an additional 3,458 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Onto Innovation by 1.6% in the third quarter. Geode Capital Management LLC now owns 834,345 shares of the semiconductor company’s stock valued at $173,401,000 after buying an additional 13,405 shares during the period. JPMorgan Chase & Co. boosted its stake in Onto Innovation by 12.9% in the third quarter. JPMorgan Chase & Co. now owns 2,008,399 shares of the semiconductor company’s stock valued at $416,863,000 after acquiring an additional 228,800 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new stake in Onto Innovation during the 3rd quarter worth $14,539,000. Finally, Northwestern Mutual Wealth Management Co. raised its position in shares of Onto Innovation by 675.0% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 124 shares of the semiconductor company’s stock valued at $27,000 after acquiring an additional 108 shares during the last quarter. 98.35% of the stock is currently 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 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.

Further Reading

Analyst Recommendations for Onto Innovation (NYSE:ONTO)

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