Onto Innovation (NYSE:ONTO) Price Target Lowered to $175.00 at Jefferies Financial Group

Onto Innovation (NYSE:ONTO) had its target price trimmed by Jefferies Financial Group from $245.00 to $175.00 in a report released on Friday morning,Benzinga reports. They currently have a buy rating on the semiconductor company’s stock.

ONTO has been the subject of a number of other research reports. Cantor Fitzgerald reissued an “overweight” rating and issued a $250.00 target price on shares of Onto Innovation in a research report on Friday, February 7th. Oppenheimer reduced their price target on Onto Innovation from $275.00 to $240.00 and set an “outperform” rating on the stock in a research report on Thursday, February 20th. Stifel Nicolaus dropped their price objective on Onto Innovation from $270.00 to $250.00 and set a “buy” rating for the company in a report on Friday, February 7th. StockNews.com raised Onto Innovation from a “sell” rating to a “hold” rating in a report on Thursday, February 27th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $230.00 price objective on shares of Onto Innovation in a research report on Friday, February 7th. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, Onto Innovation has an average rating of “Moderate Buy” and a consensus price target of $231.88.

Onto Innovation Stock Performance

Shares of ONTO stock opened at $121.99 on Friday. Onto Innovation has a 52 week low of $120.68 and a 52 week high of $238.93. The company has a market capitalization of $6.01 billion, a price-to-earnings ratio of 30.05, a PEG ratio of 0.89 and a beta of 1.29. The company has a 50-day simple moving average of $164.57 and a 200 day simple moving average of $178.83.

Onto Innovation (NYSE:ONTO) last issued its quarterly earnings data on Thursday, February 6th. The semiconductor company reported $1.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.41 by $0.10. Onto Innovation had a return on equity of 14.24% and a net margin of 20.43%. Sell-side analysts forecast that Onto Innovation will post 6.26 EPS for the current year.

Insider Buying and Selling at Onto Innovation

In other Onto Innovation news, SVP Srinivas Vedula sold 827 shares of the firm’s stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $205.00, for a total value of $169,535.00. Following the sale, the senior vice president now owns 15,223 shares in the company, valued at $3,120,715. This trade represents a 5.15 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Michael P. Plisinski sold 35,000 shares of the business’s stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $219.19, for a total transaction of $7,671,650.00. Following the sale, the chief executive officer now directly owns 150,492 shares in the company, valued at approximately $32,986,341.48. The trade was a 18.87 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 85,827 shares of company stock worth $18,182,185 over the last 90 days. Insiders own 0.72% of the company’s stock.

Institutional Investors Weigh In On Onto Innovation

Several hedge funds have recently modified their holdings of the company. Connor Clark & Lunn Investment Management Ltd. increased its holdings in Onto Innovation by 52.3% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,435 shares of the semiconductor company’s stock worth $298,000 after purchasing an additional 493 shares in the last quarter. Cerity Partners LLC grew its holdings in shares of Onto Innovation by 287.0% during the third quarter. Cerity Partners LLC now owns 4,663 shares of the semiconductor company’s stock worth $968,000 after purchasing an additional 3,458 shares during the last quarter. Daiwa Securities Group Inc. acquired a new position in shares of Onto Innovation in the third quarter valued at approximately $125,000. Bank of Montreal Can raised its holdings in Onto Innovation by 644.3% in the 3rd quarter. Bank of Montreal Can now owns 50,782 shares of the semiconductor company’s stock valued at $10,937,000 after buying an additional 43,959 shares during the last quarter. Finally, The Manufacturers Life Insurance Company boosted its position in Onto Innovation by 65.2% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 185,876 shares of the semiconductor company’s stock worth $38,580,000 after buying an additional 73,380 shares during the period. Institutional investors and hedge funds own 98.35% of the company’s stock.

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.