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

Onto Innovation (NYSE:ONTO) had its price target lifted by equities researchers at Stifel Nicolaus from $180.00 to $215.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm currently has a “hold” rating on the semiconductor company’s stock. Stifel Nicolaus’ target price suggests a potential downside of 2.30% from the company’s current price.

Other research analysts have also recently issued reports about the stock. Cantor Fitzgerald raised shares of Onto Innovation from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $170.00 to $275.00 in a research note on Monday. Jefferies Financial Group lifted their target price on Onto Innovation from $170.00 to $200.00 and gave the stock a “buy” rating in a report on Monday, December 15th. Zacks Research raised shares of Onto Innovation from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, December 31st. Needham & Company LLC upped their price target on shares of Onto Innovation from $200.00 to $260.00 and gave the company a “buy” rating in a research report on Tuesday, January 20th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Onto Innovation in a research note on Thursday, January 22nd. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, Onto Innovation has a consensus rating of “Moderate Buy” and a consensus price target of $211.25.

Onto Innovation Stock Performance

Onto Innovation stock traded down $0.22 during midday trading on Wednesday, reaching $220.07. 32,999 shares of the company’s stock were exchanged, compared to its average volume of 895,730. Onto Innovation has a 52 week low of $85.88 and a 52 week high of $229.87. The stock’s 50-day simple moving average is $188.75 and its 200 day simple moving average is $147.59. The firm has a market cap of $10.79 billion, a price-to-earnings ratio of 62.27, a P/E/G ratio of 1.20 and a beta of 1.50.

Institutional Trading of Onto Innovation

A number of institutional investors have recently modified their holdings of the business. Westside Investment Management Inc. lifted its position in Onto Innovation by 100.0% in the third quarter. Westside Investment Management Inc. now owns 198 shares of the semiconductor company’s stock valued at $27,000 after purchasing an additional 99 shares during the last quarter. Root Financial Partners LLC raised its holdings in Onto Innovation by 71.2% during the 4th quarter. Root Financial Partners LLC now owns 178 shares of the semiconductor company’s stock valued at $28,000 after buying an additional 74 shares during the last quarter. Transamerica Financial Advisors LLC boosted its position in Onto Innovation by 188.5% during the 4th quarter. Transamerica Financial Advisors LLC now owns 176 shares of the semiconductor company’s stock valued at $28,000 after buying an additional 115 shares during the period. Blue Trust Inc. grew its holdings in Onto Innovation by 2,061.5% in the 3rd quarter. Blue Trust Inc. now owns 281 shares of the semiconductor company’s stock worth $36,000 after acquiring an additional 268 shares during the last quarter. Finally, Harbor Investment Advisory LLC purchased a new position in shares of Onto Innovation in the third quarter valued at about $37,000. 98.35% of the stock is currently owned by hedge funds and other institutional investors.

Onto Innovation Company Profile

Onto Innovation (NYSE:ONTO) is a global supplier of advanced process control and inspection systems for semiconductor and electronics manufacturers. The company’s solutions span metrology, inspection, defect review and lithography mask repair, helping customers optimize yield, reduce costs and improve device performance. By integrating high-resolution optical and e-beam tools with sophisticated software analytics, Onto Innovation enables wafer, mask and advanced packaging producers to maintain tight process control across leading-edge nodes and specialty applications.

Key products include high-throughput wafer metrology systems, optical and e-beam defect inspection platforms, mask inspection and repair tools, and data-driven software for yield management and process optimization.