Onto Innovation (NYSE:ONTO) Given “Neutral” Rating at Cantor Fitzgerald

Cantor Fitzgerald reissued their neutral rating on shares of Onto Innovation (NYSE:ONTO) in a research report report published on Monday, MarketBeat reports. They currently have a $135.00 price target on the semiconductor company’s stock, down from their previous price target of $250.00.

Several other brokerages have also recently weighed in on ONTO. Benchmark reissued a “buy” rating and set a $230.00 price objective on shares of Onto Innovation in a report on Friday, February 7th. Stifel Nicolaus cut their price objective on shares of Onto Innovation from $200.00 to $180.00 and set a “buy” rating on the stock in a report on Tuesday, April 15th. Needham & Company LLC reaffirmed a “buy” rating and set a $230.00 target price on shares of Onto Innovation in a report on Friday, February 7th. StockNews.com raised Onto Innovation from a “sell” rating to a “hold” rating in a research note on Thursday, February 27th. Finally, Jefferies Financial Group dropped their price objective on Onto Innovation from $245.00 to $175.00 and set a “buy” rating for the company in a report on Friday, March 28th. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $203.75.

Onto Innovation Stock Performance

Shares of ONTO opened at $124.31 on Monday. The company has a market cap of $6.07 billion, a price-to-earnings ratio of 30.62, a PEG ratio of 0.89 and a beta of 1.46. The stock has a fifty day moving average price of $126.08 and a two-hundred day moving average price of $161.98. Onto Innovation has a 52-week low of $98.21 and a 52-week high of $238.93.

Onto Innovation (NYSE:ONTO) last posted its quarterly earnings data on Thursday, February 6th. The semiconductor company reported $1.51 earnings per share for the quarter, topping the consensus estimate of $1.41 by $0.10. Onto Innovation had a net margin of 20.43% and a return on equity of 14.24%. As a group, research analysts predict that Onto Innovation will post 6.26 EPS for the current fiscal year.

Institutional Investors Weigh In On Onto Innovation

Several large investors have recently modified their holdings of the business. Vanguard Group Inc. grew its position in shares of Onto Innovation by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 5,166,137 shares of the semiconductor company’s stock valued at $861,040,000 after purchasing an additional 76,233 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of Onto Innovation by 9.2% in the fourth quarter. JPMorgan Chase & Co. now owns 2,192,238 shares of the semiconductor company’s stock valued at $365,380,000 after buying an additional 183,839 shares during the period. Franklin Resources Inc. increased its position in shares of Onto Innovation by 21.2% during the fourth quarter. Franklin Resources Inc. now owns 1,553,271 shares of the semiconductor company’s stock worth $258,883,000 after acquiring an additional 271,470 shares in the last quarter. Artisan Partners Limited Partnership raised its holdings in shares of Onto Innovation by 41.6% during the fourth quarter. Artisan Partners Limited Partnership now owns 1,515,152 shares of the semiconductor company’s stock worth $252,530,000 after acquiring an additional 444,860 shares during the period. Finally, Invesco Ltd. lifted its position in Onto Innovation by 33.9% in the 4th quarter. Invesco Ltd. now owns 1,406,034 shares of the semiconductor company’s stock valued at $234,344,000 after acquiring an additional 356,161 shares in the last quarter. 98.35% of the stock is currently owned by institutional investors.

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.