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

Onto Innovation (NYSE:ONTO) had its target price trimmed by Jefferies Financial Group from $245.00 to $175.00 in a research report released on Friday morning,Benzinga reports. The firm currently has a buy rating on the semiconductor company’s stock.

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

Onto Innovation Price Performance

NYSE ONTO opened at $121.99 on Friday. The business’s fifty day moving average is $164.57 and its 200-day moving average is $178.70. The stock has a market capitalization of $6.01 billion, a price-to-earnings ratio of 30.05, a PEG 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 EPS for the quarter, topping the consensus estimate of $1.41 by $0.10. Onto Innovation had a net margin of 20.43% and a return on equity of 14.24%. Research analysts expect that Onto Innovation will post 6.26 EPS for the current fiscal year.

Insider Buying and Selling at Onto Innovation

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

Hedge Funds Weigh In On Onto Innovation

A number of hedge funds and other institutional investors have recently bought and sold shares of ONTO. Kestra Investment Management LLC bought a new stake in shares of Onto Innovation during the 4th quarter worth $26,000. Mather Group LLC. raised its position in Onto Innovation by 209.4% during the fourth quarter. Mather Group LLC. now owns 164 shares of the semiconductor company’s stock valued at $27,000 after purchasing an additional 111 shares in the last quarter. Johnson Financial Group Inc. bought a new stake in Onto Innovation during the fourth quarter worth about $38,000. Versant Capital Management Inc boosted its holdings in shares of Onto Innovation by 532.4% in the 4th quarter. Versant Capital Management Inc now owns 234 shares of the semiconductor company’s stock worth $39,000 after purchasing an additional 197 shares in the last quarter. Finally, SBI Securities Co. Ltd. purchased a new position in shares of Onto Innovation in the 4th quarter worth about $43,000. 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.