Onto Innovation (NYSE:ONTO) Upgraded to “Hold” by StockNews.com

Onto Innovation (NYSE:ONTOGet Free Report) was upgraded by equities research analysts at StockNews.com from a “sell” rating to a “hold” rating in a note issued to investors on Monday.

Other equities research analysts have also issued reports about the stock. Benchmark boosted their price objective on shares of Onto Innovation from $145.00 to $180.00 and gave the stock a “buy” rating in a research report on Friday. B. Riley boosted their price objective on shares of Onto Innovation from $195.00 to $205.00 and gave the stock a “buy” rating in a research report on Friday. Finally, Stifel Nicolaus boosted their price objective on shares of Onto Innovation from $135.00 to $150.00 and gave the stock a “buy” rating in a research report on Friday, November 10th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, Onto Innovation currently has an average rating of “Moderate Buy” and a consensus price target of $164.50.

Get Our Latest Report on Onto Innovation

Onto Innovation Trading Down 3.4 %

Shares of NYSE:ONTO traded down $6.11 on Monday, reaching $173.90. 664,403 shares of the company were exchanged, compared to its average volume of 447,544. Onto Innovation has a 1-year low of $76.01 and a 1-year high of $181.66. The firm has a market cap of $8.54 billion, a price-to-earnings ratio of 70.69 and a beta of 1.39. The company has a 50-day moving average of $152.39 and a 200-day moving average of $134.98.

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Value Aligned Research Advisors LLC lifted its holdings in shares of Onto Innovation by 38.2% during the 3rd quarter. Value Aligned Research Advisors LLC now owns 16,378 shares of the semiconductor company’s stock worth $2,089,000 after acquiring an additional 4,528 shares during the period. ProShare Advisors LLC lifted its holdings in shares of Onto Innovation by 4.9% during the 2nd quarter. ProShare Advisors LLC now owns 9,019 shares of the semiconductor company’s stock worth $1,050,000 after acquiring an additional 422 shares during the period. Massachusetts Financial Services Co. MA purchased a new position in shares of Onto Innovation during the 3rd quarter worth about $34,678,000. Portside Wealth Group LLC purchased a new position in shares of Onto Innovation during the 2nd quarter worth about $889,000. Finally, Congress Asset Management Co. MA lifted its holdings in shares of Onto Innovation by 3.9% during the 3rd quarter. Congress Asset Management Co. MA now owns 449,945 shares of the semiconductor company’s stock worth $57,377,000 after acquiring an additional 16,948 shares during the period. 94.78% of the stock is currently owned by hedge funds and other institutional investors.

About Onto Innovation

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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.

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Analyst Recommendations for Onto Innovation (NYSE:ONTO)

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