Evercore ISI Increases Onto Innovation (NYSE:ONTO) Price Target to $250.00

Onto Innovation (NYSE:ONTOFree Report) had its price target raised by Evercore ISI from $235.00 to $250.00 in a research note issued to investors on Friday morning, Benzinga reports. The firm currently has an outperform rating on the semiconductor company’s stock.

A number of other research firms also recently issued reports on ONTO. StockNews.com upgraded shares of Onto Innovation from a sell rating to a hold rating in a research report on Monday, February 12th. B. Riley boosted their price target on shares of Onto Innovation from $235.00 to $250.00 and gave the company a buy rating in a report on Friday. Needham & Company LLC reaffirmed a hold rating on shares of Onto Innovation in a research note on Friday. Stifel Nicolaus boosted their target price on Onto Innovation from $188.00 to $215.00 and gave the company a buy rating in a research note on Monday, March 25th. Finally, Benchmark raised their price target on Onto Innovation from $145.00 to $180.00 and gave the stock a buy rating in a research report on Friday, February 9th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, Onto Innovation currently has an average rating of Moderate Buy and an average target price of $242.00.

Check Out Our Latest Analysis on Onto Innovation

Onto Innovation Stock Down 1.2 %

Onto Innovation stock opened at $221.62 on Friday. The stock has a 50-day simple moving average of $186.68 and a 200 day simple moving average of $162.71. The stock has a market capitalization of $10.92 billion, a price-to-earnings ratio of 78.87 and a beta of 1.40. Onto Innovation has a 12-month low of $88.03 and a 12-month high of $233.84.

Onto Innovation (NYSE:ONTOGet Free Report) last announced its earnings results on Thursday, May 9th. The semiconductor company reported $1.18 earnings per share for the quarter, topping analysts’ consensus estimates of $1.10 by $0.08. Onto Innovation had a net margin of 16.43% and a return on equity of 11.48%. The company had revenue of $228.80 million during the quarter, compared to the consensus estimate of $222.60 million. During the same period in the previous year, the firm posted $0.92 earnings per share. The company’s revenue was up 14.9% on a year-over-year basis. As a group, sell-side analysts anticipate that Onto Innovation will post 4.75 EPS for the current year.

Insider Buying and Selling at Onto Innovation

In other news, VP Yoon Ah Oh sold 1,685 shares of the company’s stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $180.00, for a total transaction of $303,300.00. Following the completion of the transaction, the vice president now directly owns 14,913 shares of the company’s stock, valued at $2,684,340. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, VP Yoon Ah Oh sold 1,685 shares of the stock in a transaction on Monday, March 18th. The shares were sold at an average price of $180.00, for a total transaction of $303,300.00. Following the completion of the transaction, the vice president now owns 14,913 shares in the company, valued at $2,684,340. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Michael P. Plisinski sold 40,000 shares of Onto Innovation stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $175.48, for a total transaction of $7,019,200.00. Following the completion of the sale, the chief executive officer now owns 235,492 shares in the company, valued at $41,324,136.16. The disclosure for this sale can be found here. Insiders have sold 44,370 shares of company stock valued at $7,789,583 in the last 90 days. 0.72% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Onto Innovation

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. International Assets Investment Management LLC grew its stake in shares of Onto Innovation by 14,819.4% in the fourth quarter. International Assets Investment Management LLC now owns 615,575 shares of the semiconductor company’s stock valued at $94,121,000 after buying an additional 611,449 shares in the last quarter. Norges Bank bought a new position in shares of Onto Innovation in the 4th quarter valued at about $89,785,000. Invesco Ltd. increased its stake in shares of Onto Innovation by 113.7% during the 3rd quarter. Invesco Ltd. now owns 1,074,877 shares of the semiconductor company’s stock worth $137,068,000 after purchasing an additional 571,917 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of Onto Innovation by 64.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 946,879 shares of the semiconductor company’s stock valued at $144,779,000 after purchasing an additional 371,641 shares during the period. Finally, Massachusetts Financial Services Co. MA acquired a new stake in Onto Innovation in the 3rd quarter valued at about $34,678,000. Institutional investors own 98.35% of the company’s stock.

Onto Innovation Company Profile

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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.

Further Reading

Analyst Recommendations for Onto Innovation (NYSE:ONTO)

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