Onto Innovation (NYSE:ONTO) Sets New 1-Year Low Following Analyst Downgrade

Onto Innovation Inc. (NYSE:ONTOGet Free Report)’s share price hit a new 52-week low during trading on Saturday after StockNews.com downgraded the stock from a hold rating to a sell rating. The stock traded as low as $85.88 and last traded at $88.50, with a volume of 8576820 shares. The stock had previously closed at $126.81.

ONTO has been the topic of a number of other reports. Jefferies Financial Group dropped their target price on shares of Onto Innovation from $245.00 to $175.00 and set a “buy” rating on the stock in a report on Friday, March 28th. Cantor Fitzgerald reiterated a “neutral” rating and set a $135.00 price objective (down previously from $250.00) on shares of Onto Innovation in a research report on Monday, May 5th. Benchmark reduced their price objective on Onto Innovation from $230.00 to $190.00 and set a “buy” rating for the company in a research note on Friday. Oppenheimer cut their target price on Onto Innovation from $150.00 to $130.00 and set an “outperform” rating on the stock in a research report on Friday. Finally, Needham & Company LLC decreased their price target on Onto Innovation from $230.00 to $150.00 and set a “buy” rating for the company in a research report on Friday. One investment analyst has rated the stock with a sell rating, one has given a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $186.25.

View Our Latest Stock Analysis on Onto Innovation

Institutional Investors Weigh In On Onto Innovation

A number of institutional investors have recently bought and sold shares of ONTO. Kestra Investment Management LLC acquired a new stake in shares of Onto Innovation during the fourth quarter worth approximately $26,000. Mather Group LLC. lifted its position in Onto Innovation by 209.4% in the 4th quarter. Mather Group LLC. now owns 164 shares of the semiconductor company’s stock worth $27,000 after buying an additional 111 shares in the last quarter. Johnson Financial Group Inc. acquired a new stake in shares of Onto Innovation during the 4th quarter valued at $38,000. Banque Cantonale Vaudoise purchased a new position in shares of Onto Innovation during the 1st quarter valued at $29,000. Finally, MassMutual Private Wealth & Trust FSB increased its stake in shares of Onto Innovation by 177.6% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 236 shares of the semiconductor company’s stock worth $29,000 after acquiring an additional 151 shares during the last quarter. 98.35% of the stock is currently owned by institutional investors and hedge funds.

Onto Innovation Price Performance

The firm has a market capitalization of $4.32 billion, a PE ratio of 21.80, a price-to-earnings-growth ratio of 0.89 and a beta of 1.55. The company has a fifty day moving average of $124.11 and a 200-day moving average of $160.08.

Onto Innovation (NYSE:ONTOGet Free Report) last announced its quarterly earnings results on Thursday, May 8th. The semiconductor company reported $1.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.47 by $0.04. Onto Innovation had a return on equity of 14.24% and a net margin of 20.43%. The business had revenue of $267.00 million during the quarter, compared to analyst estimates of $267.03 million. During the same period in the previous year, the company earned $1.18 EPS. The firm’s revenue was up 16.5% on a year-over-year basis. Equities analysts anticipate that Onto Innovation Inc. will post 6.26 EPS for the current year.

Onto Innovation Company Profile

(Get Free Report)

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.

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