Onto Innovation (NYSE:ONTO) PT Raised to $205.00

Onto Innovation (NYSE:ONTOFree Report) had its price target boosted by B. Riley from $195.00 to $205.00 in a research report sent to investors on Friday, Benzinga reports. They currently have a buy rating on the semiconductor company’s stock. B. Riley also issued estimates for Onto Innovation’s Q1 2024 earnings at $1.10 EPS, Q2 2024 earnings at $1.14 EPS, Q3 2024 earnings at $1.23 EPS, Q4 2024 earnings at $1.20 EPS, FY2024 earnings at $4.67 EPS, Q1 2025 earnings at $1.31 EPS, Q2 2025 earnings at $1.41 EPS, Q3 2025 earnings at $1.50 EPS, Q4 2025 earnings at $1.48 EPS and FY2025 earnings at $5.70 EPS.

ONTO has been the subject of several other reports. Stifel Nicolaus raised their price objective on Onto Innovation from $135.00 to $150.00 and gave the company a buy rating in a research note on Friday, November 10th. StockNews.com downgraded Onto Innovation from a hold rating to a sell rating in a research report on Friday, January 19th. Finally, Benchmark reiterated a buy rating and set a $145.00 price objective on shares of Onto Innovation in a research report on Friday, November 10th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of Moderate Buy and an average target price of $164.50.

Check Out Our Latest Research Report on ONTO

Onto Innovation Price Performance

NYSE:ONTO opened at $173.90 on Friday. The company has a market cap of $8.54 billion, a price-to-earnings ratio of 70.69 and a beta of 1.39. Onto Innovation has a 1 year low of $76.01 and a 1 year high of $181.66. The stock’s 50 day simple moving average is $153.02 and its two-hundred day simple moving average is $135.37.

Onto Innovation (NYSE:ONTOGet Free Report) last announced its quarterly earnings results on Thursday, February 8th. The semiconductor company reported $1.06 earnings per share for the quarter, topping the consensus estimate of $0.99 by $0.07. The company had revenue of $219.00 million for the quarter, compared to analysts’ expectations of $209.06 million. Onto Innovation had a net margin of 14.85% and a return on equity of 10.95%. Onto Innovation’s quarterly revenue was down 13.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.57 earnings per share. As a group, analysts anticipate that Onto Innovation will post 4.67 EPS for the current year.

Institutional Trading of Onto Innovation

Several large investors have recently bought and sold shares of the stock. Fifth Third Bancorp lifted its stake in shares of Onto Innovation by 198.3% during the fourth quarter. Fifth Third Bancorp now owns 173 shares of the semiconductor company’s stock worth $26,000 after buying an additional 115 shares during the period. Contravisory Investment Management Inc. purchased a new position in Onto Innovation in the 4th quarter worth $28,000. Huntington National Bank lifted its position in Onto Innovation by 70.3% during the 3rd quarter. Huntington National Bank now owns 247 shares of the semiconductor company’s stock worth $31,000 after acquiring an additional 102 shares during the period. GAMMA Investing LLC acquired a new position in shares of Onto Innovation in the fourth quarter valued at about $33,000. Finally, Public Employees Retirement System of Ohio increased its holdings in shares of Onto Innovation by 51.3% in the third quarter. Public Employees Retirement System of Ohio now owns 516 shares of the semiconductor company’s stock valued at $33,000 after purchasing an additional 175 shares during the period. Hedge funds and other institutional investors own 94.78% of the company’s stock.

Onto Innovation Company Profile

(Get Free Report)

Onto Innovation Inc engages in the design, development, manufacture, and support of process control tools that performs macro defect inspection and 2D/3D optical metrology, lithography systems, and process control analytical software worldwide. It 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; and process control software portfolio that includes solutions for standalone tools, groups of tools, and enterprise-or factory-wide suites.

Further Reading

Analyst Recommendations for Onto Innovation (NYSE:ONTO)

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