Onto Innovation’s (ONTO) Neutral Rating Reiterated at Cantor Fitzgerald

Cantor Fitzgerald restated their neutral rating on shares of Onto Innovation (NYSE:ONTO) in a report published on Monday morning, MarketBeat Ratings reports. Cantor Fitzgerald currently has a $135.00 price target on the semiconductor company’s stock, down from their prior price target of $250.00.

Several other research firms also recently commented on ONTO. Benchmark reissued a “buy” rating and issued a $230.00 price objective on shares of Onto Innovation in a report on Friday, February 7th. Needham & Company LLC reissued a “buy” rating and issued a $230.00 price objective on shares of Onto Innovation in a research report on Friday, February 7th. Oppenheimer dropped their target price on shares of Onto Innovation from $240.00 to $150.00 and set an “outperform” rating on the stock in a report on Friday, April 11th. Stifel Nicolaus reduced their price target on Onto Innovation from $200.00 to $180.00 and set a “buy” rating for the company in a report on Tuesday, April 15th. Finally, Jefferies Financial Group cut their price objective on Onto Innovation from $245.00 to $175.00 and set a “buy” rating for the company in a research report on Friday, March 28th. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, Onto Innovation has an average rating of “Moderate Buy” and an average target price of $203.75.

Onto Innovation Stock Down 2.2 %

Shares of ONTO stock opened at $124.31 on Monday. The firm has a market cap of $6.07 billion, a PE ratio of 30.62, a P/E/G ratio of 0.89 and a beta of 1.46. Onto Innovation has a 12 month low of $98.21 and a 12 month high of $238.93. The company’s fifty day simple moving average is $126.08 and its 200-day simple moving average is $161.98.

Onto Innovation (NYSE:ONTO) last announced its quarterly earnings data on Thursday, February 6th. The semiconductor company reported $1.51 earnings per share for the quarter, beating the consensus estimate of $1.41 by $0.10. Onto Innovation had a return on equity of 14.24% and a net margin of 20.43%. On average, equities analysts predict that Onto Innovation will post 6.26 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Onto Innovation

Institutional investors have recently modified their holdings of the business. UMB Bank n.a. raised its stake in Onto Innovation by 22.8% in the 4th quarter. UMB Bank n.a. now owns 398 shares of the semiconductor company’s stock worth $66,000 after purchasing an additional 74 shares in the last quarter. Bridge City Capital LLC grew its position in Onto Innovation by 1.0% during the fourth quarter. Bridge City Capital LLC now owns 8,165 shares of the semiconductor company’s stock worth $1,361,000 after buying an additional 78 shares in the last quarter. CIBC Asset Management Inc grew its position in Onto Innovation by 5.6% during the fourth quarter. CIBC Asset Management Inc now owns 1,533 shares of the semiconductor company’s stock worth $256,000 after buying an additional 81 shares in the last quarter. Hunter Perkins Capital Management LLC raised its holdings in Onto Innovation by 3.9% in the 4th quarter. Hunter Perkins Capital Management LLC now owns 2,415 shares of the semiconductor company’s stock valued at $403,000 after acquiring an additional 90 shares in the last quarter. Finally, Jennison Associates LLC lifted its position in shares of Onto Innovation by 2.9% during the 1st quarter. Jennison Associates LLC now owns 3,142 shares of the semiconductor company’s stock valued at $381,000 after acquiring an additional 90 shares during the period. Institutional investors 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.