Onto Innovation (NYSE:ONTO) Price Target Lowered to $175.00 at Jefferies Financial Group

Onto Innovation (NYSE:ONTO) had its price target cut by research analysts at Jefferies Financial Group from $245.00 to $175.00 in a research report issued on Friday,Benzinga reports. The firm presently has a “buy” rating on the semiconductor company’s stock. Jefferies Financial Group’s target price indicates a potential upside of 43.46% from the stock’s current price.

Other analysts have also issued research reports about the stock. Needham & Company LLC restated a “buy” rating and issued a $230.00 target price on shares of Onto Innovation in a research report on Friday, February 7th. Cantor Fitzgerald restated an “overweight” rating and set a $250.00 price objective on shares of Onto Innovation in a research report on Friday, February 7th. StockNews.com raised Onto Innovation from a “sell” rating to a “hold” rating in a report on Thursday, February 27th. Benchmark reissued a “buy” rating and set a $230.00 price target on shares of Onto Innovation in a research note on Friday, February 7th. Finally, Oppenheimer dropped their price objective on shares of Onto Innovation from $275.00 to $240.00 and set an “outperform” rating for the company in a report on Thursday, February 20th. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $231.88.

Onto Innovation Price Performance

Shares of ONTO opened at $121.99 on Friday. The firm has a 50 day simple moving average of $164.57 and a two-hundred day simple moving average of $178.80. The company has a market cap of $6.01 billion, a P/E ratio of 30.05, a P/E/G ratio of 0.89 and a beta of 1.29. Onto Innovation has a one year low of $120.68 and a one year high of $238.93.

Onto Innovation (NYSE:ONTO) last announced its quarterly earnings data on Thursday, February 6th. The semiconductor company reported $1.51 earnings per share for the quarter, topping the consensus estimate of $1.41 by $0.10. Onto Innovation had a return on equity of 14.24% and a net margin of 20.43%. On average, analysts expect that Onto Innovation will post 6.26 earnings per share for the current fiscal year.

Insider Activity at Onto Innovation

In other news, SVP Srinivas Vedula sold 827 shares of the business’s stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $205.00, for a total value of $169,535.00. Following the transaction, the senior vice president now owns 15,223 shares in the company, valued at approximately $3,120,715. The trade was a 5.15 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Michael P. Plisinski sold 20,000 shares of the stock in a transaction on Tuesday, January 14th. The stock was sold at an average price of $200.19, for a total transaction of $4,003,800.00. Following the sale, the chief executive officer now owns 215,492 shares of the company’s stock, valued at approximately $43,139,343.48. This trade represents a 8.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 85,827 shares of company stock worth $18,182,185 over the last ninety days. Insiders own 0.72% of the company’s stock.

Institutional Investors Weigh In On Onto Innovation

Several institutional investors and hedge funds have recently made changes to their positions in ONTO. Vanguard Group Inc. lifted its stake in Onto Innovation by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 5,166,137 shares of the semiconductor company’s stock valued at $861,040,000 after buying an additional 76,233 shares during the period. JPMorgan Chase & Co. lifted its position in shares of Onto Innovation by 9.2% during the 4th quarter. JPMorgan Chase & Co. now owns 2,192,238 shares of the semiconductor company’s stock valued at $365,380,000 after acquiring an additional 183,839 shares during the period. Franklin Resources Inc. boosted its stake in Onto Innovation by 21.2% during the fourth quarter. Franklin Resources Inc. now owns 1,553,271 shares of the semiconductor company’s stock worth $258,883,000 after acquiring an additional 271,470 shares in the last quarter. Artisan Partners Limited Partnership grew its holdings in Onto Innovation by 41.6% in the fourth 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. Finally, State Street Corp increased its stake in Onto Innovation by 2.8% in the third quarter. State Street Corp now owns 1,469,969 shares of the semiconductor company’s stock valued at $305,107,000 after purchasing an additional 39,367 shares in the last quarter. Institutional investors own 98.35% of the company’s stock.

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.