Onto Innovation (NYSE:ONTO) Price Target Raised to $250.00 at B. Riley

Onto Innovation (NYSE:ONTO) had its target price hoisted by B. Riley from $235.00 to $250.00 in a note issued to investors on Friday, Briefing.com reports. The firm presently has a “buy” rating on the semiconductor company’s stock. B. Riley’s target price indicates a potential upside of 20.02% from the company’s previous close.

ONTO has been the topic of a number of other research reports. Benchmark lifted their target price on Onto Innovation from $145.00 to $180.00 and gave the stock a “buy” rating in a research report on Friday, February 9th. StockNews.com upgraded shares of Onto Innovation from a “sell” rating to a “hold” rating in a research report on Monday, February 12th. Evercore ISI began coverage on shares of Onto Innovation in a research report on Tuesday, April 16th. They issued an “outperform” rating and a $235.00 price target for the company. Finally, Stifel Nicolaus raised their price objective on shares of Onto Innovation from $188.00 to $215.00 and gave the stock a “buy” rating in a research report on Monday, March 25th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $200.60.

Onto Innovation Trading Up 1.0 %

Onto Innovation stock opened at $208.29 on Friday. The stock has a market cap of $10.23 billion, a P/E ratio of 84.67 and a beta of 1.40. The company has a fifty day simple moving average of $186.05 and a 200-day simple moving average of $161.29. Onto Innovation has a 12-month low of $86.04 and a 12-month high of $213.47.

Onto Innovation (NYSE:ONTO) last released its quarterly earnings data on Thursday, February 8th. The semiconductor company reported $1.06 EPS for the quarter, beating analysts’ consensus estimates of $0.99 by $0.07. Onto Innovation had a return on equity of 10.95% and a net margin of 14.85%. The business had revenue of $219.00 million for the quarter, compared to the consensus estimate of $209.06 million. During the same quarter in the prior year, the business posted $1.57 EPS. The business’s revenue for the quarter was down 13.5% on a year-over-year basis. As a group, sell-side analysts forecast that Onto Innovation will post 4.7 earnings per share for the current fiscal year.

Insider Buying and Selling at Onto Innovation

In other news, CEO Michael P. Plisinski sold 40,000 shares of Onto Innovation stock in a transaction dated 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 sale, the chief executive officer now owns 235,492 shares of the company’s stock, valued at $41,324,136.16. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Onto Innovation news, CEO Michael P. Plisinski sold 40,000 shares of the firm’s stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $175.48, for a total value of $7,019,200.00. Following the completion of the sale, the chief executive officer now owns 235,492 shares of the company’s stock, valued at $41,324,136.16. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director David Brian Miller sold 2,800 shares of the business’s stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $170.49, for a total transaction of $477,372.00. Following the sale, the director now owns 9,008 shares in the company, valued at $1,535,773.92. The disclosure for this sale can be found here. In the last three months, insiders have sold 47,170 shares of company stock valued at $8,266,955. 0.72% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in ONTO. Fidelis Capital Partners LLC purchased a new position in shares of Onto Innovation in the first quarter valued at $28,000. Fifth Third Bancorp boosted its holdings in shares of Onto Innovation by 198.3% in the 4th quarter. Fifth Third Bancorp now owns 173 shares of the semiconductor company’s stock valued at $26,000 after purchasing an additional 115 shares during the last quarter. Contravisory Investment Management Inc. acquired a new stake in Onto Innovation during the fourth quarter worth about $28,000. GAMMA Investing LLC purchased a new position in Onto Innovation in the fourth quarter valued at approximately $33,000. Finally, Rise Advisors LLC acquired a new position in shares of Onto Innovation during the 1st quarter valued at $38,000. 98.35% of the stock is owned by hedge funds and other institutional investors.

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.