Onto Innovation (NYSE:ONTO) Price Target Increased to $280.00 by Analysts at B. Riley

Onto Innovation (NYSE:ONTO) had its target price hoisted by B. Riley from $250.00 to $280.00 in a research note issued to investors on Thursday, Benzinga reports. B. Riley currently has a buy rating on the semiconductor company’s stock.

A number of other brokerages also recently commented on ONTO. Needham & Company LLC reiterated a hold rating on shares of Onto Innovation in a report on Friday, May 10th. Stifel Nicolaus raised their target price 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. Benchmark raised their target price on shares of Onto Innovation from $180.00 to $230.00 and gave the stock a buy rating in a research report on Friday, May 10th. Evercore ISI raised their target price on shares of Onto Innovation from $235.00 to $250.00 and gave the stock an outperform rating in a research report on Friday, May 10th. Finally, Jefferies Financial Group assumed coverage on shares of Onto Innovation in a research report on Monday, May 13th. They issued a buy rating and a $265.00 target price on the stock. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and a consensus price target of $248.00.

Onto Innovation Price Performance

Shares of NYSE ONTO opened at $221.56 on Thursday. The company has a market cap of $10.92 billion, a PE ratio of 78.85 and a beta of 1.43. Onto Innovation has a 12 month low of $103.93 and a 12 month high of $238.13. The company has a 50-day simple moving average of $209.90 and a 200-day simple moving average of $181.38.

Onto Innovation (NYSE:ONTO) last issued its quarterly earnings results on Thursday, May 9th. The semiconductor company reported $1.18 EPS for the quarter, topping analysts’ consensus estimates of $1.10 by $0.08. The business had revenue of $228.80 million during the quarter, compared to the consensus estimate of $222.60 million. Onto Innovation had a net margin of 16.43% and a return on equity of 11.48%. The company’s quarterly revenue was up 14.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.92 earnings per share. On average, analysts anticipate that Onto Innovation will post 5.05 EPS for the current year.

Insider Buying and Selling at Onto Innovation

In other Onto Innovation news, CFO Mark Slicer sold 519 shares of Onto Innovation stock in a transaction that occurred on Thursday, June 6th. The shares were sold at an average price of $221.21, for a total transaction of $114,807.99. Following the transaction, the chief financial officer now directly owns 12,552 shares of the company’s stock, valued at $2,776,627.92. The sale was disclosed in a filing with the SEC, which is available at this link. In other Onto Innovation news, CFO Mark Slicer sold 519 shares of Onto Innovation stock in a transaction that occurred on Thursday, June 6th. The shares were sold at an average price of $221.21, for a total transaction of $114,807.99. Following the transaction, the chief financial officer now directly owns 12,552 shares of the company’s stock, valued at $2,776,627.92. The sale was disclosed in a filing with the SEC, which is available at this link. Also, SVP Srinivas Vedula sold 1,486 shares of Onto Innovation stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $213.40, for a total transaction of $317,112.40. Following the transaction, the senior vice president now directly owns 17,433 shares in the company, valued at $3,720,202.20. The disclosure for this sale can be found here. 0.72% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in shares of Onto Innovation by 0.5% during the third quarter. Vanguard Group Inc. now owns 5,728,291 shares of the semiconductor company’s stock worth $730,472,000 after purchasing an additional 27,695 shares in the last quarter. Invesco Ltd. lifted its position in shares of Onto Innovation by 113.7% during the third quarter. Invesco Ltd. now owns 1,074,877 shares of the semiconductor company’s stock worth $137,068,000 after purchasing an additional 571,917 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of Onto Innovation by 64.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 946,879 shares of the semiconductor company’s stock worth $144,779,000 after purchasing an additional 371,641 shares in the last quarter. Wellington Management Group LLP lifted its position in shares of Onto Innovation by 13.0% during the fourth quarter. Wellington Management Group LLP now owns 844,623 shares of the semiconductor company’s stock worth $129,143,000 after purchasing an additional 96,925 shares in the last quarter. Finally, Hood River Capital Management LLC lifted its position in shares of Onto Innovation by 6.9% during the first quarter. Hood River Capital Management LLC now owns 672,230 shares of the semiconductor company’s stock worth $121,727,000 after purchasing an additional 43,132 shares in the last quarter. 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.