Onto Innovation (NYSE:ONTO) Upgraded by Wall Street Zen to Buy Rating

Onto Innovation (NYSE:ONTO - Get Free Report) was upgraded by research analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a research report issued on Saturday.

ONTO has been the subject of a number of other research reports. Evercore reissued an "outperform" rating and issued a $315.00 price objective on shares of Onto Innovation in a research note on Friday, April 17th. Needham & Company LLC raised their price objective on Onto Innovation from $320.00 to $330.00 and gave the company a "buy" rating in a research note on Wednesday. Stifel Nicolaus set a $350.00 price objective on Onto Innovation and gave the company a "buy" rating in a research note on Friday, April 17th. Jefferies Financial Group reissued a "buy" rating and issued a $350.00 price objective on shares of Onto Innovation in a research note on Wednesday. Finally, B. Riley Financial raised their price objective on Onto Innovation from $275.00 to $310.00 and gave the company a "buy" rating in a research note on Monday, April 13th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus target price of $310.63.

Onto Innovation Stock Performance

Shares of Onto Innovation stock opened at $285.26 on Friday. Onto Innovation has a 52 week low of $85.88 and a 52 week high of $316.00. The stock has a 50 day moving average price of $234.97 and a two-hundred day moving average price of $192.82. The stock has a market capitalization of $14.19 billion, a PE ratio of 133.30, a price-to-earnings-growth ratio of 1.34 and a beta of 1.70.

Onto Innovation (NYSE:ONTO - Get Free Report) last announced its quarterly earnings data on Tuesday, May 5th. The semiconductor company reported $1.42 EPS for the quarter, beating analysts' consensus estimates of $1.38 by $0.04. Onto Innovation had a return on equity of 11.68% and a net margin of 10.32%.The firm had revenue of $291.95 million during the quarter, compared to analysts' expectations of $292.00 million. During the same quarter last year, the firm posted $1.51 earnings per share. The company's revenue for the quarter was up 9.5% compared to the same quarter last year. Research analysts forecast that Onto Innovation will post 6.83 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Westside Investment Management Inc. boosted its position in Onto Innovation by 100.0% in the third quarter. Westside Investment Management Inc. now owns 198 shares of the semiconductor company's stock worth $27,000 after purchasing an additional 99 shares during the last quarter. Root Financial Partners LLC boosted its position in Onto Innovation by 71.2% in the fourth quarter. Root Financial Partners LLC now owns 178 shares of the semiconductor company's stock worth $28,000 after purchasing an additional 74 shares during the last quarter. Transamerica Financial Advisors LLC boosted its position in Onto Innovation by 188.5% in the fourth quarter. Transamerica Financial Advisors LLC now owns 176 shares of the semiconductor company's stock worth $28,000 after purchasing an additional 115 shares during the last quarter. Millstone Evans Group LLC boosted its position in Onto Innovation by 147.8% in the first quarter. Millstone Evans Group LLC now owns 166 shares of the semiconductor company's stock worth $34,000 after purchasing an additional 99 shares during the last quarter. Finally, Harbor Investment Advisory LLC purchased a new position in Onto Innovation in the third quarter worth $37,000. Hedge funds and other institutional investors own 98.35% of the company's stock.

Onto Innovation Company Profile

Onto Innovation NYSE: ONTO is a global supplier of advanced process control and inspection systems for semiconductor and electronics manufacturers. The company's solutions span metrology, inspection, defect review and lithography mask repair, helping customers optimize yield, reduce costs and improve device performance. By integrating high-resolution optical and e-beam tools with sophisticated software analytics, Onto Innovation enables wafer, mask and advanced packaging producers to maintain tight process control across leading-edge nodes and specialty applications.

Key products include high-throughput wafer metrology systems, optical and e-beam defect inspection platforms, mask inspection and repair tools, and data-driven software for yield management and process optimization.

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