Onto Innovation (NYSE:ONTO) Stock Rating Upgraded by StockNews.com

Onto Innovation (NYSE:ONTO) was upgraded by StockNews.com from a “sell” rating to a “hold” rating in a research note issued to investors on Saturday.

ONTO has been the topic of several other reports. Stifel Nicolaus reduced their price objective on Onto Innovation from $200.00 to $180.00 and set a “buy” rating on the stock in a research note on Tuesday, April 15th. Jefferies Financial Group reduced their price target on shares of Onto Innovation from $245.00 to $175.00 and set a “buy” rating on the stock in a research note on Friday, March 28th. Cantor Fitzgerald reiterated a “neutral” rating and set a $135.00 price objective (down from $250.00) on shares of Onto Innovation in a research report on Monday, May 5th. Needham & Company LLC dropped 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, May 9th. Finally, Benchmark decreased their target price on shares of Onto Innovation from $230.00 to $190.00 and set a “buy” rating on the stock in a research note on Friday, May 9th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $177.14.

Onto Innovation Stock Up 1.3%

ONTO stock opened at $99.29 on Friday. The company has a market cap of $4.85 billion, a PE ratio of 24.46, a price-to-earnings-growth ratio of 0.89 and a beta of 1.55. Onto Innovation has a 52 week low of $85.88 and a 52 week high of $238.93. The business has a 50-day simple moving average of $120.86 and a 200 day simple moving average of $155.76.

Onto Innovation (NYSE:ONTO) last issued its quarterly earnings results on Thursday, May 8th. The semiconductor company reported $1.51 earnings per share for the quarter, topping analysts’ consensus estimates of $1.47 by $0.04. The company 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 firm’s quarterly revenue was up 16.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.18 EPS. On average, analysts anticipate that Onto Innovation will post 6.26 EPS for the current fiscal year.

Institutional Trading of Onto Innovation

A number of institutional investors have recently bought and sold shares of ONTO. United Services Automobile Association acquired a new position in shares of Onto Innovation during the first quarter worth approximately $388,000. Fred Alger Management LLC increased its position in shares of Onto Innovation by 121.6% during the first quarter. Fred Alger Management LLC now owns 16,253 shares of the semiconductor company’s stock valued at $1,972,000 after acquiring an additional 8,919 shares during the last quarter. Goldman Sachs Group Inc. grew its position in Onto Innovation by 76.4% during the first quarter. Goldman Sachs Group Inc. now owns 482,256 shares of the semiconductor company’s stock valued at $58,517,000 after buying an additional 208,907 shares during the period. Nissay Asset Management Corp Japan ADV raised its holdings in shares of Onto Innovation by 9.6% in the 1st quarter. Nissay Asset Management Corp Japan ADV now owns 11,601 shares of the semiconductor company’s stock worth $1,408,000 after purchasing an additional 1,017 shares during the period. Finally, NewEdge Advisors LLC grew its stake in shares of Onto Innovation by 312.5% during the 1st quarter. NewEdge Advisors LLC now owns 4,121 shares of the semiconductor company’s stock worth $500,000 after acquiring an additional 3,122 shares during the period. Institutional investors own 98.35% 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 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.