Onto Innovation (NYSE:ONTO – Get Rating) was downgraded by investment analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued on Tuesday.
A number of other research firms also recently weighed in on ONTO. Needham & Company LLC raised their price target on Onto Innovation from $72.00 to $75.00 and gave the stock a “buy” rating in a research note on Friday, October 28th. DA Davidson decreased their target price on Onto Innovation to $90.00 in a research note on Tuesday, November 1st. Benchmark dropped their price objective on shares of Onto Innovation to $85.00 in a report on Tuesday, November 1st. Finally, B. Riley cut their target price on Onto Innovation from $110.00 to $95.00 in a research note on Friday, October 28th.
Onto Innovation Price Performance
ONTO opened at $67.86 on Tuesday. Onto Innovation has a 1-year low of $56.02 and a 1-year high of $106.09. The business has a 50 day moving average price of $73.67 and a two-hundred day moving average price of $72.53. The company has a market capitalization of $3.36 billion, a price-to-earnings ratio of 16.59 and a beta of 1.37.
Onto Innovation (NYSE:ONTO – Get Rating) last released its quarterly earnings data on Thursday, October 27th. The semiconductor company reported $1.35 earnings per share for the quarter, topping the consensus estimate of $1.31 by $0.04. Onto Innovation had a return on equity of 17.24% and a net margin of 20.85%. The business had revenue of $254.25 million during the quarter, compared to analyst estimates of $250.00 million. Equities analysts expect that Onto Innovation will post 5.27 EPS for the current fiscal year.
Institutional Trading of Onto Innovation
A number of large investors have recently bought and sold shares of the business. Quadrant Capital Group LLC raised its stake in Onto Innovation by 19.8% in the second quarter. Quadrant Capital Group LLC now owns 791 shares of the semiconductor company’s stock valued at $55,000 after buying an additional 131 shares during the period. Public Employees Retirement System of Ohio increased its position in Onto Innovation by 51.3% during the third quarter. Public Employees Retirement System of Ohio now owns 516 shares of the semiconductor company’s stock worth $33,000 after acquiring an additional 175 shares during the period. Pictet Asset Management SA boosted its stake in shares of Onto Innovation by 7.3% in the third quarter. Pictet Asset Management SA now owns 3,165 shares of the semiconductor company’s stock valued at $203,000 after buying an additional 215 shares during the period. Los Angeles Capital Management LLC grew its holdings in shares of Onto Innovation by 0.4% during the 3rd quarter. Los Angeles Capital Management LLC now owns 64,366 shares of the semiconductor company’s stock worth $4,123,000 after purchasing an additional 256 shares in the last quarter. Finally, CWM LLC lifted its holdings in shares of Onto Innovation by 100.3% during the 2nd quarter. CWM LLC now owns 619 shares of the semiconductor company’s stock worth $43,000 after acquiring an additional 310 shares during the period. 93.59% of the stock is owned by institutional investors.
About Onto Innovation
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 macro-defect inspection, packaging lithography, probe card test and analysis, 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.