Jefferies Financial Group Reiterates “$110.00” Price Target for Onto Innovation (NYSE:ONTO)

Onto Innovation (NYSE:ONTO) has been given a $110.00 price objective by Jefferies Financial Group in a research report issued on Tuesday, MarketBeat.com reports. The firm currently has a “hold” rating on the semiconductor company’s stock. Jefferies Financial Group’s price objective suggests a potential upside of 16.04% from the stock’s current price.

A number of other equities research analysts also recently weighed in on ONTO. Needham & Company LLC decreased their price target on shares of Onto Innovation from $230.00 to $150.00 and set a “buy” rating on the stock in a research note on Friday, May 9th. Wall Street Zen upgraded shares of Onto Innovation from a “sell” rating to a “hold” rating in a research note on Saturday, May 17th. Oppenheimer decreased their price target on shares of Onto Innovation from $150.00 to $130.00 and set an “outperform” rating on the stock in a research note on Friday, May 9th. Benchmark reduced 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. Finally, Cantor Fitzgerald restated a “neutral” rating and issued a $135.00 target price (down previously from $250.00) on shares of Onto Innovation in a research note on Monday, May 5th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $167.86.

Onto Innovation Trading Up 0.2%

Shares of ONTO stock opened at $94.79 on Tuesday. Onto Innovation has a 1 year low of $85.88 and a 1 year high of $238.93. The firm’s fifty day simple moving average is $117.70 and its 200 day simple moving average is $153.88. The firm has a market capitalization of $4.63 billion, a P/E ratio of 23.35, a price-to-earnings-growth ratio of 0.89 and a beta of 1.55.

Onto Innovation (NYSE:ONTO) last posted 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. Onto Innovation had a net margin of 20.43% and a return on equity of 14.24%. The firm had revenue of $267.00 million for the quarter, compared to the consensus estimate of $267.03 million. During the same quarter in the previous year, the company earned $1.18 earnings per share. The business’s revenue was up 16.5% compared to the same quarter last year. Equities research analysts anticipate that Onto Innovation will post 6.26 EPS for the current fiscal year.

Institutional Investors Weigh In On Onto Innovation

Institutional investors and hedge funds have recently made changes to their positions in the company. Kestra Investment Management LLC bought a new position in shares of Onto Innovation in the fourth quarter valued at about $26,000. Mather Group LLC. raised its holdings in shares of Onto Innovation by 209.4% in the fourth quarter. Mather Group LLC. now owns 164 shares of the semiconductor company’s stock valued at $27,000 after buying an additional 111 shares during the last quarter. MassMutual Private Wealth & Trust FSB raised its holdings in shares of Onto Innovation by 177.6% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 236 shares of the semiconductor company’s stock valued at $29,000 after buying an additional 151 shares during the last quarter. Banque Cantonale Vaudoise bought a new position in shares of Onto Innovation in the first quarter valued at about $29,000. Finally, Migdal Insurance & Financial Holdings Ltd. raised its holdings in shares of Onto Innovation by 79.4% in the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 244 shares of the semiconductor company’s stock valued at $30,000 after buying an additional 108 shares during the last quarter. 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.