Stifel Nicolaus Boosts Onto Innovation (NYSE:ONTO) Price Target to $215.00

Onto Innovation (NYSE:ONTO) had its price objective lifted by Stifel Nicolaus from $188.00 to $215.00 in a research note released on Monday morning, Benzinga reports. Stifel Nicolaus currently has a buy rating on the semiconductor company’s stock.

Other analysts also recently issued research reports about the stock. StockNews.com upgraded shares of Onto Innovation from a sell rating to a hold rating in a research report on Monday, February 12th. 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, February 9th. Finally, 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, February 9th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and an average price target of $180.75.

Onto Innovation Stock Performance

NYSE ONTO opened at $180.49 on Monday. The firm has a 50 day simple moving average of $174.87 and a 200-day simple moving average of $148.59. Onto Innovation has a one year low of $76.40 and a one year high of $199.72. The firm has a market cap of $8.87 billion, a price-to-earnings ratio of 73.37 and a beta of 1.41.

Onto Innovation (NYSE:ONTO) last posted its quarterly earnings data on Thursday, February 8th. The semiconductor company reported $1.06 EPS for the quarter, beating 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 during the quarter, compared to analyst estimates of $209.06 million. During the same quarter last year, the firm posted $1.57 earnings per share. The business’s revenue for the quarter was down 13.5% compared to the same quarter last year. Equities analysts predict that Onto Innovation will post 4.7 EPS for the current fiscal year.

Insider Activity

In other Onto Innovation news, Director David Brian Miller sold 2,800 shares of the business’s stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $170.49, for a total value of $477,372.00. Following the transaction, the director now directly owns 9,008 shares of the company’s stock, valued at approximately $1,535,773.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Onto Innovation news, CEO Michael P. Plisinski sold 40,000 shares of the business’s stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $175.48, for a total value of $7,019,200.00. Following the transaction, the chief executive officer now directly owns 235,492 shares of the company’s stock, valued at approximately $41,324,136.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director David Brian Miller sold 2,800 shares of the business’s stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $170.49, for a total transaction of $477,372.00. Following the completion of the transaction, the director now directly owns 9,008 shares in the company, valued at $1,535,773.92. The disclosure for this sale can be found here. Insiders have sold 47,170 shares of company stock valued at $8,266,955 in the last ninety days. 0.81% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Onto Innovation

Institutional investors have recently bought and sold shares of the company. Fifth Third Bancorp grew its stake in shares of Onto Innovation by 198.3% during the 4th quarter. Fifth Third Bancorp now owns 173 shares of the semiconductor company’s stock worth $26,000 after purchasing an additional 115 shares during the period. Contravisory Investment Management Inc. acquired a new position in shares of Onto Innovation during the 4th quarter worth $28,000. Huntington National Bank grew its stake in shares of 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 purchasing an additional 102 shares during the period. GAMMA Investing LLC acquired a new position in shares of Onto Innovation during the 4th quarter worth $33,000. Finally, Public Employees Retirement System of Ohio grew its stake in shares of Onto Innovation by 51.3% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 516 shares of the semiconductor company’s stock worth $33,000 after purchasing an additional 175 shares during the period. 98.35% of the stock is owned by institutional investors and hedge funds.

About Onto Innovation

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.