Onto Innovation (NYSE:ONTO) Price Target Increased to $250.00 by Analysts at Evercore ISI

Onto Innovation (NYSE:ONTO) had its price objective hoisted by equities researchers at Evercore ISI from $235.00 to $250.00 in a report released on Friday, Benzinga reports. The firm currently has an “outperform” rating on the semiconductor company’s stock. Evercore ISI’s target price would suggest a potential upside of 11.99% from the stock’s current price.

Other research analysts have also issued reports about the company. StockNews.com raised Onto Innovation from a “sell” rating to a “hold” rating in a research report on Monday, February 12th. B. Riley increased their target price on Onto Innovation from $235.00 to $250.00 and gave the stock a “buy” rating in a research report on Friday. Benchmark increased their price target on Onto Innovation from $145.00 to $180.00 and gave the company a “buy” rating in a report on Friday, February 9th. Needham & Company LLC reiterated a “hold” rating on shares of Onto Innovation in a report on Friday. Finally, Stifel Nicolaus increased their price target on Onto Innovation from $188.00 to $215.00 and gave the company a “buy” rating in a report on Monday, March 25th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, Onto Innovation currently has an average rating of “Moderate Buy” and an average target price of $213.60.

Onto Innovation Trading Up 7.1 %

Shares of NYSE ONTO traded up $14.82 during midday trading on Friday, reaching $223.24. 592,391 shares of the stock were exchanged, compared to its average volume of 437,517. The stock has a 50 day moving average price of $186.05 and a 200-day moving average price of $161.29. Onto Innovation has a 52-week low of $86.04 and a 52-week high of $233.84. The company has a market capitalization of $10.97 billion, a P/E ratio of 89.71 and a beta of 1.40.

Onto Innovation (NYSE:ONTO) last released its earnings results on Thursday, May 9th. The semiconductor company reported $1.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.10 by $0.08. Onto Innovation had a net margin of 14.85% and a return on equity of 10.95%. The business had revenue of $228.80 million for the quarter, compared to analysts’ expectations of $222.60 million. During the same period last year, the company earned $0.92 earnings per share. The company’s quarterly revenue was up 14.9% on a year-over-year basis. On average, analysts forecast that Onto Innovation will post 4.7 earnings per share for the current year.

Insider Transactions at Onto Innovation

In related news, Director David Brian Miller sold 2,800 shares of the business’s stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $170.49, for a total value of $477,372.00. Following the completion of the sale, the director now directly owns 9,008 shares of the company’s stock, valued at $1,535,773.92. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, Director David Brian Miller sold 2,800 shares of the business’s stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $170.49, for a total value of $477,372.00. Following the completion of the sale, the director now directly owns 9,008 shares of the company’s stock, valued at $1,535,773.92. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Yoon Ah Oh sold 1,685 shares of the business’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $180.00, for a total value of $303,300.00. Following the completion of the sale, the vice president now directly owns 14,913 shares of the company’s stock, valued at $2,684,340. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 47,170 shares of company stock valued at $8,266,955. 0.72% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Onto Innovation

A number of hedge funds and other institutional investors have recently bought and sold shares of ONTO. Fifth Third Bancorp lifted its position in Onto Innovation by 198.3% in the fourth quarter. Fifth Third Bancorp now owns 173 shares of the semiconductor company’s stock worth $26,000 after purchasing an additional 115 shares during the period. Contravisory Investment Management Inc. acquired a new stake in Onto Innovation in the fourth quarter worth approximately $28,000. Fidelis Capital Partners LLC bought a new position in shares of Onto Innovation in the first quarter valued at $28,000. Huntington National Bank increased its holdings in shares of Onto Innovation by 70.3% in the third quarter. Huntington National Bank now owns 247 shares of the semiconductor company’s stock valued at $31,000 after buying an additional 102 shares in the last quarter. Finally, GAMMA Investing LLC bought a new position in shares of Onto Innovation in the fourth quarter valued at $33,000. 98.35% of the stock is currently owned by institutional investors and hedge funds.

About Onto Innovation

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.