Onto Innovation (NYSE:ONTO) PT Set at $110.00 by Jefferies Financial Group

Jefferies Financial Group set a $110.00 price target on Onto Innovation (NYSE:ONTO - Free Report) in a research report report published on Tuesday, MarketBeat.com reports. The brokerage currently has a hold rating on the semiconductor company's stock.

ONTO has been the subject of several other research reports. Benchmark cut their price target on Onto Innovation from $230.00 to $190.00 and set a "buy" rating for the company in a report on Friday, May 9th. Cantor Fitzgerald reiterated a "neutral" rating and issued a $135.00 price objective (down from $250.00) on shares of Onto Innovation in a research report on Monday, May 5th. Wall Street Zen upgraded Onto Innovation from a "sell" rating to a "hold" rating in a research report on Saturday, May 17th. Oppenheimer lowered their price objective on Onto Innovation from $150.00 to $130.00 and set an "outperform" rating for the company in a research report on Friday, May 9th. Finally, Needham & Company LLC lowered their price objective on Onto Innovation from $230.00 to $150.00 and set a "buy" rating for the company in a research report on Friday, May 9th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $167.86.

Onto Innovation Price Performance

Onto Innovation stock traded down $2.85 during trading hours on Tuesday, hitting $91.98. 1,482,266 shares of the stock traded hands, compared to its average volume of 921,197. The firm's 50 day moving average price is $116.84 and its 200-day moving average price is $153.14. The stock has a market capitalization of $4.49 billion, a price-to-earnings ratio of 22.66, a P/E/G ratio of 0.89 and a beta of 1.55. Onto Innovation has a 1 year low of $85.88 and a 1 year high of $238.93.

Onto Innovation (NYSE:ONTO - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The semiconductor company reported $1.51 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.47 by $0.04. The company had revenue of $267.00 million for the quarter, compared to the consensus estimate of $267.03 million. Onto Innovation had a return on equity of 14.24% and a net margin of 20.43%. Onto Innovation's revenue for the quarter was up 16.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.18 earnings per share. Research analysts forecast that Onto Innovation will post 6.26 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Onto Innovation

Several institutional investors have recently modified their holdings of the company. Situational Awareness LP acquired a new position in shares of Onto Innovation during the 1st quarter worth approximately $71,192,000. Norges Bank purchased a new stake in Onto Innovation during the 4th quarter worth $87,987,000. Artisan Partners Limited Partnership boosted its position in Onto Innovation by 41.6% during 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. Massachusetts Financial Services Co. MA boosted its position in Onto Innovation by 48.4% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 1,291,415 shares of the semiconductor company's stock worth $156,700,000 after purchasing an additional 421,165 shares during the period. Finally, Invesco Ltd. boosted its position in Onto Innovation by 33.9% during the 4th 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 period. Hedge funds and other institutional investors own 98.35% of the company's stock.

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.