Onto Innovation (NYSE:ONTO) Given New $190.00 Price Target at Benchmark

Onto Innovation (NYSE:ONTO) had its price objective dropped by investment analysts at Benchmark from $230.00 to $190.00 in a research note issued to investors on Friday,Benzinga reports. The firm presently has a “buy” rating on the semiconductor company’s stock. Benchmark’s target price indicates a potential upside of 114.69% from the company’s current price.

Several other brokerages have also issued reports on ONTO. Needham & Company LLC lowered their target price on Onto Innovation from $230.00 to $150.00 and set a “buy” rating on the stock in a research note on Friday. Jefferies Financial Group lowered their price objective on Onto Innovation from $245.00 to $175.00 and set a “buy” rating on the stock in a research note on Friday, March 28th. StockNews.com upgraded shares of Onto Innovation from a “sell” rating to a “hold” rating in a research report on Thursday, February 27th. Stifel Nicolaus lowered their price target on shares of Onto Innovation from $200.00 to $180.00 and set a “buy” rating on the stock in a research report on Tuesday, April 15th. Finally, Oppenheimer cut their price objective on shares of Onto Innovation from $240.00 to $150.00 and set an “outperform” rating for the company in a report on Friday, April 11th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $177.14.

Onto Innovation Stock Performance

Shares of NYSE:ONTO opened at $88.50 on Friday. The company has a market capitalization of $4.32 billion, a P/E ratio of 21.80, a price-to-earnings-growth ratio of 0.89 and a beta of 1.55. The company’s 50-day moving average is $124.11 and its 200 day moving average is $159.79. Onto Innovation has a fifty-two week low of $85.88 and a fifty-two week high of $238.93.

Onto Innovation (NYSE:ONTO) last released its earnings results on Thursday, May 8th. The semiconductor company reported $1.51 earnings per share for the quarter, beating analysts’ consensus estimates of $1.47 by $0.04. Onto Innovation had a net margin of 20.43% and a return on equity of 14.24%. The firm had revenue of $267.00 million during the quarter, compared to the consensus estimate of $267.03 million. During the same period in the prior year, the firm earned $1.18 EPS. The company’s revenue was up 16.5% compared to the same quarter last year. As a group, research analysts predict that Onto Innovation will post 6.26 earnings per share for the current year.

Institutional Trading of Onto Innovation

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. UMB Bank n.a. increased its holdings in shares of Onto Innovation by 22.8% in the fourth quarter. UMB Bank n.a. now owns 398 shares of the semiconductor company’s stock worth $66,000 after purchasing an additional 74 shares during the period. Bridge City Capital LLC increased its stake in Onto Innovation by 1.0% in the 4th quarter. Bridge City Capital LLC now owns 8,165 shares of the semiconductor company’s stock worth $1,361,000 after acquiring an additional 78 shares during the last quarter. CIBC Asset Management Inc raised its holdings in shares of Onto Innovation by 5.6% in the 4th quarter. CIBC Asset Management Inc now owns 1,533 shares of the semiconductor company’s stock valued at $256,000 after acquiring an additional 81 shares in the last quarter. Hunter Perkins Capital Management LLC boosted its position in shares of Onto Innovation by 3.9% during 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 during the last quarter. Finally, Jennison Associates LLC grew its holdings in shares of Onto Innovation by 2.9% during the first quarter. Jennison Associates LLC now owns 3,142 shares of the semiconductor company’s stock worth $381,000 after purchasing an additional 90 shares in the last quarter. 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.