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Onto Innovation Inc. (NYSE:ONTO – Get Rating) – Research analysts at B. Riley boosted their Q4 2022 earnings per share (EPS) estimates for shares of Onto Innovation in a research report issued on Monday, January 30th. B. Riley analyst C. Ellis now forecasts that the semiconductor company will earn $1.40 per share for the quarter, up from their prior forecast of $1.33. The consensus estimate for Onto Innovation’s current full-year earnings is $5.27 per share.
A number of other analysts also recently commented on ONTO. DA Davidson dropped their price objective on Onto Innovation to $90.00 in a report on Tuesday, November 1st. Benchmark lowered their price target on Onto Innovation to $85.00 in a report on Tuesday, November 1st. Needham & Company LLC increased their price target on Onto Innovation from $72.00 to $75.00 and gave the company a “buy” rating in a report on Friday, October 28th. Finally, StockNews.com upgraded Onto Innovation from a “hold” rating to a ” buy” rating in a report on Monday, January 16th.
Onto Innovation Stock Down 1.4%
ONTO stock opened at $77.04 on Tuesday. The company has a market cap of $3.82 billion, a price-to-earnings ratio of 18.84 and a beta of 1.40. The business has a fifty day simple moving average of $74.85 and a 200-day simple moving average of $73.52. Onto Innovation has a 52 week low of $56.02 and a 52 week high of $97.93.
Institutional Trading of Onto Innovation
Several large investors have recently modified their holdings of ONTO. JPMorgan Chase & Co. grew its stake in shares of Onto Innovation by 7.5% during the first quarter. JPMorgan Chase & Co. now owns 84,116 shares of the semiconductor company’s stock valued at $7,310,000 after acquiring an additional 5,850 shares in the last quarter. Citigroup Inc. lifted its position in shares of Onto Innovation by 5.4% during the first quarter. Citigroup Inc. now owns 52,277 shares of the semiconductor company’s stock worth $4,543,000 after purchasing an additional 2,697 shares during AlphaCrest Capital Management LLC lifted its position in shares of Onto Innovation by 88.7% during the first quarter. AlphaCrest Capital Management LLC now owns 3,963 shares of the semiconductor company’s stock worth $344,000 after purchasing an additional 1,863 shares during the last quarter. Bank of Montreal Can lifted its position in shares of Onto Innovation by 23.3% during the first quarter. of Montreal Can now owns 15,977 shares of the semiconductor company’s stock worth $1,392,000 after purchasing an additional 3,015 shares during the last quarter. Finally, MetLife Investment Management LLC lifted its position in shares of Onto Innovation by 55.5% during the first quarter. MetLife Investment Management LLC now owns 26,215 shares of the semiconductor company’s stock worth $2,278,000 after purchasing an additional 9,352 shares during the last quarter. 93.59% of the stock is currently owned by institutional investors and hedge funds.
About Onto Innovation
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Onto Innovation, Inc engages in designing, developing and manufacturing process control systems. It offers process control, combining global scale with an expanded portfolio of technologies that include: 3D metrology spanning the chip from nanometer-scale transistors to micron-level die-interconnects, macro defect inspection of wafers and packages, metal interconnect composition, factory analytics, and lithography for advanced semiconductor packaging.
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