ONTO

Evercore ISI Group Initiates Coverage of Onto Innovation (ONTO) with Outperform Recommendation

Fintel reports that on April 16, 2024, Evercore ISI Group initiated coverage of Onto Innovation (NYSE:ONTO) with a Outperform recommendation.

Analyst Price Forecast Suggests 6.18% Upside

As of April 1, 2024, the average one-year price target for Onto Innovation is 201.45. The forecasts range from a low of 181.80 to a high of $225.75. The average price target represents an increase of 6.18% from its latest reported closing price of 189.72.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for Onto Innovation is 935MM, an increase of 14.56%. The projected annual non-GAAP EPS is 4.71.

What is the Fund Sentiment?

There are 959 funds or institutions reporting positions in Onto Innovation. This is an increase of 117 owner(s) or 13.90% in the last quarter. Average portfolio weight of all funds dedicated to ONTO is -2.74%, a decrease of 742.61%. Total shares owned by institutions increased in the last three months by 1.01% to 59,902K shares. ONTO / Onto Innovation Inc. Put/Call Ratios The put/call ratio of ONTO is 0.45, indicating a bullish outlook.

What are Other Shareholders Doing?

ONTO / Onto Innovation Inc. Shares Held by Institutions

IJR - iShares Core S&P Small-Cap ETF holds 3,314K shares representing 6.73% ownership of the company. In it's prior filing, the firm reported owning 3,430K shares, representing a decrease of 3.50%. The firm increased its portfolio allocation in ONTO by 9.75% over the last quarter.

T. Rowe Price Investment Management holds 1,988K shares representing 4.04% ownership of the company. In it's prior filing, the firm reported owning 1,998K shares, representing a decrease of 0.52%. The firm increased its portfolio allocation in ONTO by 9.72% over the last quarter.

VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 1,549K shares representing 3.15% ownership of the company. In it's prior filing, the firm reported owning 1,548K shares, representing an increase of 0.07%. The firm increased its portfolio allocation in ONTO by 7.22% over the last quarter.

IJH - iShares Core S&P Mid-Cap ETF holds 1,490K shares representing 3.03% ownership of the company.

IWM - iShares Russell 2000 ETF holds 1,297K shares representing 2.64% ownership of the company. In it's prior filing, the firm reported owning 1,135K shares, representing an increase of 12.51%. The firm increased its portfolio allocation in ONTO by 5.96% over the last quarter.

Onto Innovation Background Information
(This description is provided by the company.)

Onto Innovation is a leader in process control, combining global scale with an expanded portfolio of leading-edge technologies that include: Un-patterned wafer quality; 3D metrology spanning chip features from nanometer scale transistors to large die interconnects; macro defect inspection of wafers and packages; elemental layer composition; overlay metrology; factory analytics; and lithography for advanced semiconductor packaging. Its breadth of offerings across the entire semiconductor value chain helps its customers solve their most difficult yield, device performance, quality, and reliability issues. Onto Innovation strives to optimize customers' critical path of progress by making them smarter, faster and more efficient. Headquartered in Wilmington, Massachusetts, Onto Innovation supports customers with a worldwide sales and service organization.

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This story originally appeared on Fintel.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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