Onto Innovation’s (ONTO) Overweight Rating Reiterated at Cantor Fitzgerald

Cantor Fitzgerald restated their overweight rating on shares of Onto Innovation (NYSE:ONTO) in a report published on Friday morning,Benzinga reports. The firm currently has a $250.00 price objective on the semiconductor company’s stock. Cantor Fitzgerald also issued estimates for Onto Innovation’s FY2025 earnings at $6.40 EPS.

A number of other brokerages have also recently weighed in on ONTO. Benchmark reaffirmed a “buy” rating and issued a $230.00 price objective on shares of Onto Innovation in a report on Friday, November 1st. Oppenheimer reiterated an “outperform” rating and issued a $275.00 price objective on shares of Onto Innovation in a report on Tuesday, December 17th. Stifel Nicolaus dropped their target price on Onto Innovation from $270.00 to $250.00 and set a “buy” rating on the stock in a report on Friday. Needham & Company LLC reaffirmed a “buy” rating and set a $230.00 price target on shares of Onto Innovation in a research note on Friday. Finally, Jefferies Financial Group lowered their target price on Onto Innovation from $265.00 to $245.00 and set a “buy” rating on the stock in a report on Friday, November 1st. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $251.25.

Onto Innovation Stock Down 10.8 %

Onto Innovation stock opened at $187.81 on Friday. The firm has a 50-day moving average price of $186.01 and a two-hundred day moving average price of $190.08. Onto Innovation has a 52-week low of $145.15 and a 52-week high of $238.93. The firm has a market capitalization of $9.28 billion, a price-to-earnings ratio of 46.26, a PEG ratio of 1.09 and a beta of 1.31.

Onto Innovation (NYSE:ONTO) last issued its quarterly earnings data on Thursday, February 6th. The semiconductor company reported $1.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.41 by $0.10. Onto Innovation had a return on equity of 14.41% and a net margin of 20.43%. Research analysts expect that Onto Innovation will post 6.46 earnings per share for the current year.

Insider Transactions at Onto Innovation

In related 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 transaction of $169,535.00. Following the transaction, the senior vice president now directly owns 15,223 shares of the company’s stock, valued at approximately $3,120,715. The trade was a 5.15 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Michael P. Plisinski sold 35,000 shares of Onto Innovation stock in a transaction 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 trade represents a 18.87 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 85,827 shares of company stock valued at $18,182,185 over the last ninety days. Corporate insiders own 0.72% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Congress Asset Management Co. lifted its holdings in shares of Onto Innovation by 38.1% during the 3rd quarter. Congress Asset Management Co. now owns 1,072,796 shares of the semiconductor company’s stock valued at $222,670,000 after buying an additional 295,869 shares during the last quarter. Citigroup Inc. increased its stake in shares of Onto Innovation by 811.7% during the 3rd quarter. Citigroup Inc. now owns 319,116 shares of the semiconductor company’s stock worth $66,236,000 after purchasing an additional 284,115 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Onto Innovation in the 4th quarter valued at $43,893,000. Proficio Capital Partners LLC acquired a new position in Onto Innovation during the fourth quarter worth $41,946,000. Finally, JPMorgan Chase & Co. lifted its position in shares of Onto Innovation by 12.9% in the third quarter. JPMorgan Chase & Co. now owns 2,008,399 shares of the semiconductor company’s stock worth $416,863,000 after buying an additional 228,800 shares during the last quarter. Hedge funds and other 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.