Onto Innovation Inc. (NYSE:ONTO)'s share price rose 2.9% during mid-day trading on Friday after Stifel Nicolaus raised their price target on the stock from $100.00 to $125.00. The company traded as high as $98.03 and last traded at $97.93. Approximately 542 shares changed hands during mid-day trading, a decline of 100% from the average daily volume of 364,189 shares. The stock had previously closed at $95.16.
A number of other equities research analysts have also issued reports on ONTO. Benchmark raised their price target on shares of Onto Innovation from $100.00 to $110.00 and gave the stock a "buy" rating in a report on Wednesday, December 8th. Zacks Investment Research raised shares of Onto Innovation from a "hold" rating to a "buy" rating and set a $97.00 target price on the stock in a research note on Monday, November 8th. Needham & Company LLC lifted their target price on shares of Onto Innovation from $81.00 to $100.00 and gave the company a "buy" rating in a research note on Friday, November 5th. Finally, B. Riley lifted their target price on shares of Onto Innovation from $105.00 to $115.00 and gave the company a "buy" rating in a research note on Friday, November 5th. Five research analysts have rated the stock with a buy rating, According to MarketBeat.com, Onto Innovation currently has a consensus rating of "Buy" and a consensus target price of $104.50.
In related news, Director Bruce C. Rhine sold 50,000 shares of Onto Innovation stock in a transaction dated Monday, November 1st. The shares were sold at an average price of $80.36, for a total transaction of $4,018,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director David Brian Miller sold 5,500 shares of Onto Innovation stock in a transaction dated Tuesday, December 7th. The shares were sold at an average price of $97.41, for a total transaction of $535,755.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 66,725 shares of company stock valued at $5,530,935. 1.60% of the stock is currently owned by corporate insiders.
Institutional investors have recently modified their holdings of the business. Liberty Wealth Management LLC raised its holdings in shares of Onto Innovation by 96.1% during the third quarter. Liberty Wealth Management LLC now owns 400 shares of the semiconductor company's stock valued at $31,000 after purchasing an additional 196 shares during the last quarter. O Shaughnessy Asset Management LLC grew its position in Onto Innovation by 750.0% during the second quarter. O Shaughnessy Asset Management LLC now owns 935 shares of the semiconductor company's stock valued at $68,000 after buying an additional 825 shares during the period. Stephens Inc. AR grew its position in Onto Innovation by 470.0% during the second quarter. Stephens Inc. AR now owns 1,140 shares of the semiconductor company's stock valued at $83,000 after buying an additional 940 shares during the period. Dark Forest Capital Management LP bought a new stake in Onto Innovation during the second quarter valued at approximately $137,000. Finally, Heritage Wealth Management LLC bought a new stake in Onto Innovation during the second quarter valued at approximately $142,000. 94.71% of the stock is owned by institutional investors and hedge funds.
The firm's 50-day moving average is $94.33 and its 200-day moving average is $80.37. The company has a market capitalization of $4.81 billion, a P/E ratio of 40.84 and a beta of 1.17.
Onto Innovation (NYSE:ONTO) last announced its earnings results on Thursday, November 4th. The semiconductor company reported $0.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.92 by $0.06. The company had revenue of $200.60 million during the quarter, compared to analyst estimates of $195.34 million. Onto Innovation had a net margin of 16.08% and a return on equity of 12.66%. The firm's quarterly revenue was up 58.6% compared to the same quarter last year. During the same period in the previous year, the business posted $0.40 earnings per share. Sell-side analysts expect that Onto Innovation Inc. will post 3.73 earnings per share for the current fiscal year.
Onto Innovation Company Profile (NYSE:ONTO)
Onto Innovation, Inc engages in developing process control systems. It offers process control, combining global scale with an expanded portfolio of technologies that include: 3D metrology spanning the chip from nanometer-scale transistors to micron-level die-interconnects, macro defect inspection of wafers and packages, metal interconnect composition, factory analytics, and lithography for advanced semiconductor packaging.
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