Onto Innovation (NYSE:ONTO) Upgraded by Jefferies Financial Group to "Buy" Rating

Key Points

• Onto Innovation has been upgraded from a "hold" to a "buy" rating by Jefferies Financial Group, with a new target price of $170.00, reflecting a potential upside of 30.59% from its current price.
• The company reported $1.25 earnings per share for the latest quarter, slightly missing analysts' expectations, but showing a revenue increase of 4.7% year-over-year.
• Approximately 98.35% of Onto Innovation's stock is owned by institutional investors, indicating strong institutional interest in the company.

Onto Innovation (NYSE:ONTO - Get Free Report) was upgraded by equities research analysts at Jefferies Financial Group from a "hold" rating to a "buy" rating in a report released on Tuesday,Benzinga reports. The firm currently has a $170.00 target price on the semiconductor company's stock, up from their prior target price of $100.00. Jefferies Financial Group's price target would indicate a potential upside of 30.59% from the stock's current price.

Other equities research analysts have also recently issued reports about the stock. Cantor Fitzgerald decreased their price objective on shares of Onto Innovation from $110.00 to $90.00 and set a "neutral" rating for the company in a report on Tuesday, June 24th. B. Riley decreased their price target on shares of Onto Innovation from $160.00 to $145.00 and set a "buy" rating for the company in a report on Friday, August 8th. Finally, Benchmark decreased their price target on shares of Onto Innovation from $190.00 to $160.00 and set a "buy" rating for the company in a report on Friday, August 8th. Six research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $146.43.

Onto Innovation Trading Up 6.1%

Shares of NYSE:ONTO opened at $130.17 on Tuesday. The stock has a market capitalization of $6.38 billion, a PE ratio of 32.22, a P/E/G ratio of 0.83 and a beta of 1.58. Onto Innovation has a 1 year low of $85.88 and a 1 year high of $228.42. The firm has a fifty day moving average price of $105.13 and a 200 day moving average price of $108.77.

Onto Innovation (NYSE:ONTO - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The semiconductor company reported $1.25 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.27 by ($0.02). The business had revenue of $253.60 million during the quarter, compared to the consensus estimate of $250.56 million. Onto Innovation had a return on equity of 14.38% and a net margin of 19.29%.The company's revenue for the quarter was up 4.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.32 earnings per share. Onto Innovation has set its Q3 2025 guidance at 0.750-0.950 EPS. On average, sell-side analysts forecast that Onto Innovation will post 6.26 earnings per share for the current fiscal year.

Institutional Trading of Onto Innovation

Several large investors have recently added to or reduced their stakes in ONTO. Vident Advisory LLC grew its stake in Onto Innovation by 19.8% during the fourth quarter. Vident Advisory LLC now owns 1,361 shares of the semiconductor company's stock worth $227,000 after buying an additional 225 shares during the last quarter. Voloridge Investment Management LLC bought a new stake in Onto Innovation during the fourth quarter worth about $3,104,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Onto Innovation by 11.9% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 150,084 shares of the semiconductor company's stock worth $25,015,000 after buying an additional 15,961 shares during the last quarter. MassMutual Private Wealth & Trust FSB grew its stake in Onto Innovation by 177.6% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 236 shares of the semiconductor company's stock worth $29,000 after buying an additional 151 shares during the last quarter. Finally, Central Pacific Bank Trust Division grew its stake in shares of Onto Innovation by 8.7% during the first quarter. Central Pacific Bank Trust Division now owns 1,380 shares of the semiconductor company's stock valued at $167,000 after purchasing an additional 110 shares during the last quarter. 98.35% of the stock is owned by institutional investors.

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.

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