Onto Innovation (NYSE:ONTO) Given New $90.00 Price Target at Cantor Fitzgerald

Onto Innovation (NYSE:ONTO) had its target price lowered by investment analysts at Cantor Fitzgerald from $110.00 to $90.00 in a research report issued on Tuesday,Benzinga reports. The brokerage currently has a “neutral” rating on the semiconductor company’s stock. Cantor Fitzgerald’s target price points to a potential downside of 7.37% from the company’s current price.

Other equities research analysts have also issued research reports about the stock. Wall Street Zen upgraded shares of Onto Innovation from a “sell” rating to a “hold” rating in a report on Saturday, May 17th. Needham & Company LLC cut their price objective on shares of Onto Innovation from $230.00 to $150.00 and set a “buy” rating on the stock in a report on Friday, May 9th. Jefferies Financial Group set a $110.00 price objective on shares of Onto Innovation and gave the stock a “hold” rating in a research note on Tuesday, May 20th. Oppenheimer lowered their target price on Onto Innovation from $150.00 to $130.00 and set an “outperform” rating for the company in a report on Friday, May 9th. Finally, Benchmark dropped their target price on Onto Innovation from $230.00 to $190.00 and set a “buy” rating on the stock in a research report on Friday, May 9th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, Onto Innovation currently has an average rating of “Moderate Buy” and a consensus target price of $141.67.

Onto Innovation Stock Up 0.4%

Shares of NYSE ONTO opened at $97.16 on Tuesday. Onto Innovation has a twelve month low of $85.88 and a twelve month high of $238.93. The firm has a market cap of $4.75 billion, a PE ratio of 21.98, a price-to-earnings-growth ratio of 0.63 and a beta of 1.45. The business has a fifty day simple moving average of $104.30 and a two-hundred day simple moving average of $142.02.

Onto Innovation (NYSE:ONTO) last announced its quarterly earnings results on Thursday, May 8th. The semiconductor company reported $1.51 EPS for the quarter, beating the consensus estimate of $1.47 by $0.04. Onto Innovation had a return on equity of 14.85% and a net margin of 21.36%. The firm had revenue of $267.00 million for the quarter, compared to analyst estimates of $267.03 million. During the same quarter last year, the firm posted $1.18 earnings per share. The business’s revenue for the quarter was up 16.5% on a year-over-year basis. On average, research analysts expect that Onto Innovation will post 6.26 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. MassMutual Private Wealth & Trust FSB lifted its position in Onto Innovation by 177.6% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 236 shares of the semiconductor company’s stock valued at $29,000 after acquiring an additional 151 shares during the last quarter. Banque Cantonale Vaudoise purchased a new stake in shares of Onto Innovation during the 1st quarter valued at $29,000. Migdal Insurance & Financial Holdings Ltd. lifted its holdings in shares of Onto Innovation by 79.4% during the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 244 shares of the semiconductor company’s stock valued at $30,000 after purchasing an additional 108 shares during the last quarter. Larson Financial Group LLC boosted its position in shares of Onto Innovation by 3,700.0% in the 1st quarter. Larson Financial Group LLC now owns 266 shares of the semiconductor company’s stock worth $32,000 after purchasing an additional 259 shares in the last quarter. Finally, Johnson Financial Group Inc. purchased a new position in Onto Innovation during the 4th quarter worth $38,000. Hedge funds and other institutional investors 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.