Fintel reports that on September 25, 2024, Oppenheimer initiated coverage of Onto Innovation (NYSE:ONTO) with a Outperform recommendation.
Analyst Price Forecast Suggests 30.80% Upside
As of September 25, 2024, the average one-year price target for Onto Innovation is $266.43/share. The forecasts range from a low of $232.30 to a high of $302.88. The average price target represents an increase of 30.80% from its latest reported closing price of $203.69 / share.
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The projected annual revenue for Onto Innovation is 935MM, an increase of 4.18%. The projected annual non-GAAP EPS is 4.71.
What is the Fund Sentiment?
There are 1,136 funds or institutions reporting positions in Onto Innovation. This is an increase of 139 owner(s) or 13.94% in the last quarter. Average portfolio weight of all funds dedicated to ONTO is 0.43%, an increase of 4.02%. Total shares owned by institutions increased in the last three months by 0.85% to 59,771K shares. 
The put/call ratio of ONTO is 0.64, indicating a bullish outlook.
What are Other Shareholders Doing?
Jpmorgan Chase holds 1,780K shares representing 3.60% ownership of the company. In its prior filing, the firm reported owning 1,436K shares , representing an increase of 19.32%. The firm decreased its portfolio allocation in ONTO by 77.15% over the last quarter.
Invesco holds 1,586K shares representing 3.21% ownership of the company. In its prior filing, the firm reported owning 1,285K shares , representing an increase of 18.94%. The firm decreased its portfolio allocation in ONTO by 87.03% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 1,556K shares representing 3.15% ownership of the company. In its prior filing, the firm reported owning 1,553K shares , representing an increase of 0.20%. The firm increased its portfolio allocation in ONTO by 18.14% over the last quarter.
IJH - iShares Core S&P Mid-Cap ETF holds 1,533K shares representing 3.10% ownership of the company. In its prior filing, the firm reported owning 1,528K shares , representing an increase of 0.31%. The firm increased its portfolio allocation in ONTO by 24.50% over the last quarter.
T. Rowe Price Investment Management holds 1,437K shares representing 2.91% ownership of the company. In its prior filing, the firm reported owning 1,898K shares , representing a decrease of 32.05%. The firm decreased its portfolio allocation in ONTO by 5.28% 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.
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