Onto Innovation (NYSE:ONTO) Given “Buy” Rating at Needham & Company LLC

Needham & Company LLC restated their buy rating on shares of Onto Innovation (NYSE:ONTO) in a research report report published on Tuesday,Benzinga reports. They currently have a $150.00 price target on the semiconductor company’s stock.

A number of other research analysts also recently commented on the stock. B. Riley upped their price objective on shares of Onto Innovation from $145.00 to $170.00 and gave the company a “buy” rating in a research note on Friday, October 10th. Stifel Nicolaus upped their price target on Onto Innovation from $110.00 to $120.00 and gave the stock a “hold” rating in a research note on Monday, October 13th. Oppenheimer raised their price objective on Onto Innovation from $130.00 to $180.00 and gave the stock an “outperform” rating in a report on Tuesday, October 14th. Jefferies Financial Group upgraded Onto Innovation from a “hold” rating to a “buy” rating and boosted their target price for the stock from $100.00 to $170.00 in a report on Tuesday, September 23rd. Finally, Evercore ISI raised their price target on shares of Onto Innovation from $115.00 to $160.00 and gave the company an “outperform” rating in a report on Tuesday, November 4th. Six research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $151.25.

Onto Innovation Stock Down 2.4%

NYSE:ONTO opened at $124.21 on Tuesday. Onto Innovation has a 52-week low of $85.88 and a 52-week high of $228.42. The stock has a fifty day simple moving average of $130.47 and a 200-day simple moving average of $111.36. The company has a market capitalization of $6.09 billion, a PE ratio of 30.75, a price-to-earnings-growth ratio of 0.94 and a beta of 1.64.

Onto Innovation (NYSE:ONTO) last announced its earnings results on Thursday, November 6th. The semiconductor company reported $0.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.89 by $0.03. Onto Innovation had a net margin of 19.29% and a return on equity of 14.38%. The company had revenue of $218.19 million during the quarter, compared to analysts’ expectations of $220.23 million. During the same quarter in the previous year, the business posted $1.34 earnings per share. The firm’s quarterly revenue was down 13.5% compared to the same quarter last year. Onto Innovation has set its Q4 2025 guidance at 1.180-1.330 EPS. As a group, equities analysts anticipate that Onto Innovation will post 6.26 earnings per share for the current year.

Hedge Funds Weigh In On Onto Innovation

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Larson Financial Group LLC raised its stake in shares of Onto Innovation by 3,700.0% during the first quarter. Larson Financial Group LLC now owns 266 shares of the semiconductor company’s stock valued at $32,000 after purchasing an additional 259 shares during the period. Victory Capital Management Inc. grew its holdings in Onto Innovation by 14.6% during the 1st quarter. Victory Capital Management Inc. now owns 120,830 shares of the semiconductor company’s stock valued at $14,662,000 after purchasing an additional 15,437 shares in the last quarter. Jennison Associates LLC increased its stake in Onto Innovation by 2.9% during the 1st quarter. Jennison Associates LLC now owns 3,142 shares of the semiconductor company’s stock worth $381,000 after buying an additional 90 shares during the period. Teachers Retirement System of The State of Kentucky lifted its holdings in Onto Innovation by 37.5% in the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 19,203 shares of the semiconductor company’s stock worth $2,330,000 after buying an additional 5,234 shares in the last quarter. Finally, Lindbrook Capital LLC boosted its position in Onto Innovation by 29.2% in the 1st quarter. Lindbrook Capital LLC now owns 1,508 shares of the semiconductor company’s stock valued at $183,000 after buying an additional 341 shares during the last quarter. 98.35% of the stock is owned by institutional investors and hedge funds.

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.