Onto Innovation (NYSE:ONTO) Price Target Raised to $205.00 at B. Riley

Onto Innovation (NYSE:ONTOFree Report) had its target price lifted by B. Riley from $195.00 to $205.00 in a report issued on Friday morning, Benzinga reports. The firm currently has a buy rating on the semiconductor company’s stock. B. Riley also issued estimates for Onto Innovation’s Q1 2024 earnings at $1.10 EPS, Q2 2024 earnings at $1.14 EPS, Q3 2024 earnings at $1.23 EPS, Q4 2024 earnings at $1.20 EPS, FY2024 earnings at $4.67 EPS, Q1 2025 earnings at $1.31 EPS, Q2 2025 earnings at $1.41 EPS, Q3 2025 earnings at $1.50 EPS, Q4 2025 earnings at $1.48 EPS and FY2025 earnings at $5.70 EPS.

A number of other research analysts have also weighed in on ONTO. Benchmark reaffirmed a buy rating and issued a $145.00 price objective on shares of Onto Innovation in a research note on Friday, November 10th. StockNews.com downgraded shares of Onto Innovation from a hold rating to a sell rating in a report on Friday, January 19th. Finally, Stifel Nicolaus raised their price objective on shares of Onto Innovation from $135.00 to $150.00 and gave the stock a buy rating in a report on Friday, November 10th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of Moderate Buy and an average target price of $164.50.

View Our Latest Stock Analysis on ONTO

Onto Innovation Stock Performance

Shares of NYSE ONTO opened at $173.90 on Friday. Onto Innovation has a 52-week low of $76.01 and a 52-week high of $181.66. The firm has a 50 day moving average price of $153.02 and a two-hundred day moving average price of $135.37. The stock has a market cap of $8.54 billion, a P/E ratio of 70.69 and a beta of 1.39.

Onto Innovation (NYSE:ONTOGet Free Report) last posted its quarterly earnings data on Thursday, February 8th. The semiconductor company reported $1.06 earnings per share for the quarter, topping the consensus estimate of $0.99 by $0.07. Onto Innovation had a net margin of 14.85% and a return on equity of 10.95%. The company had revenue of $219.00 million during the quarter, compared to analysts’ expectations of $209.06 million. During the same period in the prior year, the company posted $1.57 earnings per share. Onto Innovation’s revenue for the quarter was down 13.5% compared to the same quarter last year. Analysts predict that Onto Innovation will post 4.67 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Onto Innovation

A number of hedge funds have recently made changes to their positions in ONTO. Fifth Third Bancorp increased its position in Onto Innovation by 198.3% during the 4th quarter. Fifth Third Bancorp now owns 173 shares of the semiconductor company’s stock valued at $26,000 after purchasing an additional 115 shares during the period. Contravisory Investment Management Inc. bought a new position in shares of Onto Innovation in the 4th quarter worth approximately $28,000. Huntington National Bank increased its holdings in Onto Innovation by 70.3% in the 3rd quarter. Huntington National Bank now owns 247 shares of the semiconductor company’s stock worth $31,000 after acquiring an additional 102 shares in the last quarter. GAMMA Investing LLC purchased a new position in shares of Onto Innovation in the fourth quarter valued at $33,000. Finally, Public Employees Retirement System of Ohio grew its holdings in shares of Onto Innovation by 51.3% in the third quarter. Public Employees Retirement System of Ohio now owns 516 shares of the semiconductor company’s stock valued at $33,000 after purchasing an additional 175 shares in the last quarter. 94.78% of the stock is currently owned by institutional investors.

Onto Innovation Company Profile

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Onto Innovation Inc engages in the design, development, manufacture, and support of process control tools that performs macro defect inspection and 2D/3D optical metrology, lithography systems, and process control analytical software worldwide. It 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; and process control software portfolio that includes solutions for standalone tools, groups of tools, and enterprise-or factory-wide suites.

Further Reading

Analyst Recommendations for Onto Innovation (NYSE:ONTO)

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