Oppenheimer Lowers Onto Innovation (NYSE:ONTO) Price Target to $150.00

Onto Innovation (NYSE:ONTO - Free Report) had its price objective cut by Oppenheimer from $240.00 to $150.00 in a report issued on Friday morning,Benzinga reports. They currently have an outperform rating on the semiconductor company's stock.

Other equities analysts have also issued reports about the stock. Cantor Fitzgerald reiterated an "overweight" rating and issued a $250.00 price target on shares of Onto Innovation in a research report on Friday, February 7th. Benchmark reaffirmed a "buy" rating and issued a $230.00 target price on shares of Onto Innovation 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. Jefferies Financial Group dropped their price objective on Onto Innovation from $245.00 to $175.00 and set a "buy" rating for the company in a research note on Friday, March 28th. Finally, Stifel Nicolaus set a $200.00 target price on Onto Innovation and gave the stock a "buy" rating in a research report on Friday, March 28th. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $218.13.

Onto Innovation Trading Down 7.3 %

ONTO stock traded down $8.75 during midday trading on Friday, reaching $111.72. 560,740 shares of the company's stock traded hands, compared to its average volume of 786,541. Onto Innovation has a 52-week low of $98.21 and a 52-week high of $238.93. The stock has a market cap of $5.46 billion, a P/E ratio of 27.52, a PEG ratio of 0.89 and a beta of 1.46. The stock's 50-day moving average is $139.97 and its 200 day moving average is $170.98.

Onto Innovation (NYSE:ONTO - Get Free Report) last announced its earnings results on Thursday, February 6th. The semiconductor company reported $1.51 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%. As a group, research analysts expect that Onto Innovation will post 6.26 EPS for the current fiscal year.

Insider Buying and Selling at Onto Innovation

In other news, CEO Michael P. Plisinski sold 35,000 shares of the firm's stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $219.19, for a total value of $7,671,650.00. Following the completion of the sale, the chief executive officer now directly owns 150,492 shares of the company's stock, valued at $32,986,341.48. This trade represents a 18.87 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.72% of the stock is owned by company insiders.

Institutional Trading of Onto Innovation

Several hedge funds and other institutional investors have recently bought and sold shares of ONTO. Vanguard Group Inc. increased its position in Onto Innovation by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 5,166,137 shares of the semiconductor company's stock valued at $861,040,000 after acquiring an additional 76,233 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Onto Innovation by 9.2% during the 4th quarter. JPMorgan Chase & Co. now owns 2,192,238 shares of the semiconductor company's stock worth $365,380,000 after purchasing an additional 183,839 shares during the period. Franklin Resources Inc. grew its holdings in Onto Innovation by 21.2% during the 4th quarter. Franklin Resources Inc. now owns 1,553,271 shares of the semiconductor company's stock valued at $258,883,000 after purchasing an additional 271,470 shares during the last quarter. Artisan Partners Limited Partnership raised its position in Onto Innovation by 41.6% in the 4th quarter. Artisan Partners Limited Partnership now owns 1,515,152 shares of the semiconductor company's stock worth $252,530,000 after purchasing an additional 444,860 shares during the period. Finally, Invesco Ltd. lifted its stake in Onto Innovation by 33.9% in the fourth quarter. Invesco Ltd. now owns 1,406,034 shares of the semiconductor company's stock worth $234,344,000 after purchasing an additional 356,161 shares during the last quarter. Hedge funds and other institutional investors 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.