Onto Innovation (NYSE:ONTO) Price Target Cut to $130.00 by Analysts at Oppenheimer

Onto Innovation (NYSE:ONTO) had its price objective cut by Oppenheimer from $150.00 to $130.00 in a report issued on Friday morning,Benzinga reports. They currently have an outperform rating on the semiconductor company’s stock.

Other equities analysts also recently issued research reports about the stock. Benchmark lowered their target price on shares of Onto Innovation from $230.00 to $190.00 and set a “buy” rating for the company in a research note on Friday. Stifel Nicolaus lowered their target price on shares of Onto Innovation from $200.00 to $180.00 and set a “buy” rating for the company in a research note on Tuesday, April 15th. StockNews.com upgraded shares of Onto Innovation from a “sell” rating to a “hold” rating in a research note on Thursday, February 27th. Needham & Company LLC decreased their price objective on shares of Onto Innovation from $230.00 to $150.00 and set a “buy” rating for the company in a research note on Friday. Finally, Cantor Fitzgerald restated a “neutral” rating and issued a $135.00 price objective (down previously from $250.00) on shares of Onto Innovation in a research note on Monday, May 5th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $177.14.

Onto Innovation Trading Down 30.2%

Shares of ONTO stock opened at $88.50 on Friday. The firm has a fifty day moving average price of $124.11 and a 200 day moving average price of $159.49. The company has a market cap of $4.32 billion, a P/E ratio of 21.80, a PEG ratio of 0.89 and a beta of 1.55. Onto Innovation has a 12 month low of $85.88 and a 12 month high of $238.93.

Onto Innovation (NYSE:ONTO) last issued its earnings results on Thursday, May 8th. The semiconductor company reported $1.51 EPS for the quarter, topping analysts’ consensus estimates of $1.47 by $0.04. The firm had revenue of $267.00 million during the quarter, compared to the consensus estimate of $267.03 million. Onto Innovation had a net margin of 20.43% and a return on equity of 14.24%. The company’s revenue was up 16.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.18 earnings per share. On average, equities analysts forecast that Onto Innovation will post 6.26 EPS for the current year.

Hedge Funds Weigh In On Onto Innovation

Large investors have recently bought and sold shares of the stock. Kestra Investment Management LLC purchased a new stake in shares of Onto Innovation in the fourth quarter valued at about $26,000. Mather Group LLC. raised its holdings in shares of Onto Innovation by 209.4% in the fourth quarter. Mather Group LLC. now owns 164 shares of the semiconductor company’s stock valued at $27,000 after buying an additional 111 shares during the last quarter. MassMutual Private Wealth & Trust FSB raised its holdings in shares of Onto Innovation by 177.6% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 236 shares of the semiconductor company’s stock valued at $29,000 after buying an additional 151 shares during the last quarter. Banque Cantonale Vaudoise purchased a new stake in shares of Onto Innovation in the first quarter valued at about $29,000. Finally, Migdal Insurance & Financial Holdings Ltd. raised its holdings in shares of Onto Innovation by 79.4% in the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 244 shares of the semiconductor company’s stock valued at $30,000 after buying an additional 108 shares during the last quarter. 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.