Onto Innovation (NYSE:ONTO) Upgraded at Zacks Research

Zacks Research upgraded shares of Onto Innovation (NYSE:ONTO) from a hold rating to a strong-buy rating in a report released on Tuesday,Zacks.com reports. Zacks Research also issued estimates for Onto Innovation’s FY2028 earnings at $9.44 EPS.

A number of other analysts have also recently issued reports on ONTO. Deutsche Bank Aktiengesellschaft began coverage on Onto Innovation in a report on Friday, June 5th. They set a “buy” rating and a $350.00 price objective on the stock. Stifel Nicolaus set a $350.00 price target on Onto Innovation and gave the company a “buy” rating in a research report on Friday, April 17th. Wall Street Zen upgraded Onto Innovation from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. Needham & Company LLC increased their price target on shares of Onto Innovation from $320.00 to $330.00 and gave the stock a “buy” rating in a report on Wednesday, May 6th. Finally, Morgan Stanley initiated coverage on shares of Onto Innovation in a research report on Sunday, June 14th. They issued an “overweight” rating and a $371.00 price objective for the company. Two research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $339.60.

Onto Innovation Price Performance

Shares of ONTO stock opened at $281.81 on Tuesday. The company’s fifty day simple moving average is $295.59 and its two-hundred day simple moving average is $246.52. Onto Innovation has a 1 year low of $89.40 and a 1 year high of $386.46. The stock has a market capitalization of $14.02 billion, a price-to-earnings ratio of 131.69, a PEG ratio of 1.24 and a beta of 1.55.

Onto Innovation (NYSE:ONTO) last posted its quarterly earnings results on Tuesday, May 5th. The semiconductor company reported $1.42 EPS for the quarter, topping analysts’ consensus estimates of $1.38 by $0.04. The firm had revenue of $291.95 million during the quarter, compared to analyst estimates of $292.00 million. Onto Innovation had a return on equity of 11.68% and a net margin of 10.32%.The business’s revenue for the quarter was up 9.5% on a year-over-year basis. During the same period last year, the company earned $1.51 earnings per share. Equities research analysts anticipate that Onto Innovation will post 7.14 EPS for the current year.

Institutional Investors Weigh In On Onto Innovation

Large investors have recently added to or reduced their stakes in the business. Root Financial Partners LLC grew its position in Onto Innovation by 71.2% during the fourth quarter. Root Financial Partners LLC now owns 178 shares of the semiconductor company’s stock worth $28,000 after buying an additional 74 shares in the last quarter. Transamerica Financial Advisors LLC raised its holdings in shares of Onto Innovation by 188.5% in the 4th quarter. Transamerica Financial Advisors LLC now owns 176 shares of the semiconductor company’s stock valued at $28,000 after acquiring an additional 115 shares in the last quarter. Millstone Evans Group LLC raised its holdings in shares of Onto Innovation by 147.8% in the 1st quarter. Millstone Evans Group LLC now owns 166 shares of the semiconductor company’s stock valued at $34,000 after acquiring an additional 99 shares in the last quarter. CoreCap Advisors LLC bought a new stake in shares of Onto Innovation during the 2nd quarter valued at about $38,000. Finally, CIBC Private Wealth Group LLC boosted its position in shares of Onto Innovation by 109.4% during the 4th quarter. CIBC Private Wealth Group LLC now owns 245 shares of the semiconductor company’s stock valued at $39,000 after acquiring an additional 128 shares during the last quarter. Institutional investors own 98.35% of the company’s stock.

Onto Innovation Company Profile

Onto Innovation (NYSE:ONTO) is a global supplier of advanced process control and inspection systems for semiconductor and electronics manufacturers. The company’s solutions span metrology, inspection, defect review and lithography mask repair, helping customers optimize yield, reduce costs and improve device performance. By integrating high-resolution optical and e-beam tools with sophisticated software analytics, Onto Innovation enables wafer, mask and advanced packaging producers to maintain tight process control across leading-edge nodes and specialty applications.

Key products include high-throughput wafer metrology systems, optical and e-beam defect inspection platforms, mask inspection and repair tools, and data-driven software for yield management and process optimization.