Onto Innovation (NYSE:ONTO) Given New $180.00 Price Target at Stifel Nicolaus

Onto Innovation (NYSE:ONTO - Free Report) had its target price reduced by Stifel Nicolaus from $200.00 to $180.00 in a research report released on Tuesday morning,Benzinga reports. Stifel Nicolaus currently has a buy rating on the semiconductor company's stock.

ONTO has been the subject of several other reports. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $250.00 target price on shares of Onto Innovation in a research report on Friday, February 7th. Benchmark reaffirmed a "buy" rating and set a $230.00 price objective on shares of Onto Innovation in a report on Friday, February 7th. StockNews.com upgraded shares of Onto Innovation from a "sell" rating to a "hold" rating in a report on Thursday, February 27th. Needham & Company LLC restated a "buy" rating and set a $230.00 price target on shares of Onto Innovation in a report on Friday, February 7th. Finally, Oppenheimer dropped their price objective on Onto Innovation from $240.00 to $150.00 and set an "outperform" rating on the stock in a research note on Friday, April 11th. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $218.13.

Onto Innovation Stock Performance

Shares of Onto Innovation stock traded up $0.03 during trading on Tuesday, hitting $114.92. 613,059 shares of the stock traded hands, compared to its average volume of 793,315. The stock has a market cap of $5.61 billion, a P/E ratio of 28.30, a PEG ratio of 0.89 and a beta of 1.46. The company has a fifty day moving average price of $135.91 and a two-hundred day moving average price of $169.08. Onto Innovation has a twelve month low of $98.21 and a twelve month high of $238.93.

Onto Innovation (NYSE:ONTO - Get Free Report) last posted its earnings results on Thursday, February 6th. The semiconductor company reported $1.51 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.41 by $0.10. Onto Innovation had a net margin of 20.43% and a return on equity of 14.24%. On average, equities research analysts expect that Onto Innovation will post 6.26 EPS for the current fiscal year.

Insider Activity

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

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Rakuten Securities Inc. boosted its holdings in Onto Innovation by 1,588.0% in the first quarter. Rakuten Securities Inc. now owns 844 shares of the semiconductor company's stock valued at $102,000 after acquiring an additional 794 shares during the last quarter. QRG Capital Management Inc. boosted its position in shares of Onto Innovation by 6.1% in the 1st quarter. QRG Capital Management Inc. now owns 2,041 shares of the semiconductor company's stock worth $248,000 after purchasing an additional 118 shares during the last quarter. Vaughan Nelson Investment Management L.P. acquired a new position in Onto Innovation in the first quarter valued at about $31,175,000. Azzad Asset Management Inc. ADV bought a new position in Onto Innovation during the first quarter worth about $1,524,000. Finally, Elevation Point Wealth Partners LLC grew its position in shares of Onto Innovation by 24.2% during the 1st quarter. Elevation Point Wealth Partners LLC now owns 2,891 shares of the semiconductor company's stock worth $351,000 after buying an additional 564 shares during the period. 98.35% of the stock is currently 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.