Onto Innovation (NYSE:ONTO – Free Report) had its target price hoisted by Benchmark from $145.00 to $180.00 in a research note published on Friday morning, Benzinga reports. The firm currently has a buy rating on the semiconductor company’s stock.
Other equities research analysts have also recently issued reports about the company. Stifel Nicolaus lifted their target price on Onto Innovation from $135.00 to $150.00 and gave the stock a buy rating in a report on Friday, November 10th. B. Riley boosted their price target on Onto Innovation from $195.00 to $205.00 and gave the company a buy rating in a report on Friday. Finally, StockNews.com lowered Onto Innovation from a hold rating to a sell rating in a report on Friday, January 19th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of Moderate Buy and an average price target of $164.50.
Onto Innovation Stock Performance
Onto Innovation (NYSE:ONTO – Get Free Report) last released its earnings results on Thursday, February 8th. The semiconductor company reported $1.06 earnings per share for the quarter, beating the consensus estimate of $0.99 by $0.07. The company had revenue of $219.00 million for the quarter, compared to the consensus estimate of $209.06 million. Onto Innovation had a return on equity of 10.95% and a net margin of 14.85%. Onto Innovation’s quarterly revenue was down 13.5% compared to the same quarter last year. During the same period in the previous year, the business earned $1.57 earnings per share. On average, equities analysts forecast that Onto Innovation will post 4.67 EPS for the current fiscal year.
Hedge Funds Weigh In On Onto Innovation
Institutional investors have recently modified their holdings of the stock. Fifth Third Bancorp boosted its holdings in Onto Innovation by 198.3% in the 4th quarter. Fifth Third Bancorp now owns 173 shares of the semiconductor company’s stock worth $26,000 after buying an additional 115 shares during the last quarter. Contravisory Investment Management Inc. purchased a new stake in shares of Onto Innovation during the 4th quarter valued at approximately $28,000. Huntington National Bank raised its position in shares of Onto Innovation by 70.3% during the 3rd quarter. Huntington National Bank now owns 247 shares of the semiconductor company’s stock valued at $31,000 after buying an additional 102 shares during the period. GAMMA Investing LLC purchased a new stake in Onto Innovation in the fourth quarter valued at approximately $33,000. Finally, Public Employees Retirement System of Ohio raised its position in Onto Innovation by 51.3% in the third 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 period. Hedge funds and other institutional investors own 94.78% of the company’s stock.
Onto Innovation Company Profile
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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