Onto Innovation (NYSE:ONTO) Upgraded at StockNews.com

Onto Innovation (NYSE:ONTO) was upgraded by equities research analysts at StockNews.com from a “sell” rating to a “hold” rating in a report released on Saturday.

A number of other analysts also recently weighed in on ONTO. Oppenheimer reduced their target price on shares of Onto Innovation from $150.00 to $130.00 and set an “outperform” rating on the stock in a report on Friday, May 9th. Stifel Nicolaus lowered their price target on shares of Onto Innovation from $200.00 to $180.00 and set a “buy” rating for the company in a research report on Tuesday, April 15th. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $135.00 price target (down previously from $250.00) on shares of Onto Innovation in a research report on Monday, May 5th. Jefferies Financial Group lowered their price target on shares of Onto Innovation from $245.00 to $175.00 and set a “buy” rating for the company in a research report on Friday, March 28th. Finally, Benchmark decreased their target price on shares of Onto Innovation from $230.00 to $190.00 and set a “buy” rating for the company in a research report on Friday, May 9th. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $177.14.

Onto Innovation Price Performance

Shares of ONTO stock opened at $99.29 on Friday. The company has a market capitalization of $4.85 billion, a price-to-earnings ratio of 24.46, a PEG ratio of 0.89 and a beta of 1.55. Onto Innovation has a one year low of $85.88 and a one year high of $238.93. The company’s fifty day moving average price is $120.86 and its 200-day moving average price is $156.41.

Onto Innovation (NYSE:ONTO) last posted its earnings results on Thursday, May 8th. The semiconductor company reported $1.51 earnings per share for the quarter, beating the consensus estimate of $1.47 by $0.04. Onto Innovation had a net margin of 20.43% and a return on equity of 14.24%. The company had revenue of $267.00 million during the quarter, compared to analysts’ expectations of $267.03 million. During the same period last year, the company posted $1.18 earnings per share. Onto Innovation’s quarterly revenue was up 16.5% on a year-over-year basis. Equities research analysts expect that Onto Innovation will post 6.26 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of ONTO. Barclays PLC increased its stake in Onto Innovation by 1,296.7% during the 3rd quarter. Barclays PLC now owns 217,190 shares of the semiconductor company’s stock valued at $45,079,000 after purchasing an additional 201,640 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of Onto Innovation by 12.9% in the third quarter. JPMorgan Chase & Co. now owns 2,008,399 shares of the semiconductor company’s stock worth $416,863,000 after acquiring an additional 228,800 shares during the period. Hennion & Walsh Asset Management Inc. increased its stake in shares of Onto Innovation by 22.1% in the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 7,051 shares of the semiconductor company’s stock worth $1,175,000 after acquiring an additional 1,276 shares during the period. HB Wealth Management LLC acquired a new stake in shares of Onto Innovation in the fourth quarter worth $217,000. Finally, UMB Bank n.a. increased its stake in shares of Onto Innovation by 22.8% in the fourth quarter. UMB Bank n.a. now owns 398 shares of the semiconductor company’s stock worth $66,000 after acquiring an additional 74 shares during the period. Institutional investors and hedge funds 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.