Oppenheimer Boosts Onto Innovation (NYSE:ONTO) Price Target to $275.00

by · The Cerbat Gem

Onto Innovation (NYSE:ONTO – Free Report) had its price objective lifted by Oppenheimer from $260.00 to $275.00 in a report released on Tuesday, Benzinga reports. They currently have an outperform rating on the semiconductor company’s stock.

A number of other analysts also recently weighed in on ONTO. Benchmark reissued a buy rating and set a $230.00 target price on shares of Onto Innovation in a research report on Friday, August 9th. B. Riley increased their price objective on shares of Onto Innovation from $250.00 to $280.00 and gave the stock a buy rating in a research report on Thursday, June 20th. Needham & Company LLC upgraded shares of Onto Innovation from a hold rating to a buy rating in a report on Monday, August 19th. Finally, Stifel Nicolaus increased their price target on Onto Innovation from $240.00 to $270.00 and gave the stock a buy rating in a report on Monday, July 15th. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of Moderate Buy and a consensus price target of $261.67.

Get Our Latest Report on Onto Innovation

Onto Innovation Trading Down 1.4 %

Onto Innovation stock opened at $206.76 on Tuesday. The company has a market capitalization of $10.19 billion, a PE ratio of 73.58 and a beta of 1.37. The stock has a 50-day moving average price of $196.19 and a two-hundred day moving average price of $203.24. Onto Innovation has a 12 month low of $108.98 and a 12 month high of $238.93.

Onto Innovation (NYSE:ONTO – Get Free Report) last posted its earnings results on Thursday, August 8th. The semiconductor company reported $1.32 EPS for the quarter, topping the consensus estimate of $1.20 by $0.12. Onto Innovation had a net margin of 18.50% and a return on equity of 12.71%. The business had revenue of $242.33 million for the quarter, compared to the consensus estimate of $235.43 million. During the same period last year, the company earned $0.79 EPS. The firm’s revenue was up 27.1% compared to the same quarter last year. As a group, analysts predict that Onto Innovation will post 5.18 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, SVP Srinivas Vedula sold 1,275 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $207.24, for a total transaction of $264,231.00. Following the transaction, the senior vice president now owns 16,050 shares in the company, valued at $3,326,202. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.72% of the company’s stock.

Institutional Investors Weigh In On Onto Innovation

A number of hedge funds have recently added to or reduced their stakes in ONTO. Quarry LP grew its position in Onto Innovation by 232.4% in the 2nd quarter. Quarry LP now owns 113 shares of the semiconductor company’s stock valued at $25,000 after purchasing an additional 79 shares during the period. Northwestern Mutual Wealth Management Co. grew its holdings in shares of Onto Innovation by 675.0% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 124 shares of the semiconductor company’s stock valued at $27,000 after buying an additional 108 shares during the last quarter. Fidelis Capital Partners LLC bought a new stake in shares of Onto Innovation during the first quarter worth about $28,000. Rise Advisors LLC acquired a new stake in shares of Onto Innovation in the 1st quarter worth about $38,000. Finally, GAMMA Investing LLC raised its holdings in shares of Onto Innovation by 41.1% in the 1st quarter. GAMMA Investing LLC now owns 292 shares of the semiconductor company’s stock worth $53,000 after acquiring an additional 85 shares during the last quarter. Institutional investors and hedge funds own 98.35% of the company’s stock.

About Onto Innovation

(Get Free Report)

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.

Read More