52,514 Shares in Onto Innovation Inc. $ONTO Purchased by Palisade Capital Management LP

Key Points

• Palisade Capital Management acquired 52,514 shares of Onto Innovation worth approximately $19.9 million, giving it a 0.11% stake and making ONTO 0.9% of its portfolio. Institutional investors collectively own 98.35% of the company.
• Onto Innovation exceeded quarterly expectations with $1.93 in EPS and $343.1 million in revenue, up 35.3% year over year. The company guided for third-quarter EPS of $2.18–$2.38.
• Analysts maintain a broadly positive view, with an average “Buy” rating and a $380.30 price target, although the stock trades at a high price-to-earnings ratio of about 110.

Palisade Capital Management LP bought a new position in shares of Onto Innovation Inc. (NYSE:ONTO - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 52,514 shares of the semiconductor company's stock, valued at approximately $19,874,000. Onto Innovation makes up 0.9% of Palisade Capital Management LP's investment portfolio, making the stock its 22nd largest holding. Palisade Capital Management LP owned about 0.11% of Onto Innovation at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Andar Capital Management HK Ltd acquired a new stake in shares of Onto Innovation in the second quarter valued at approximately $69,000,000. BlackRock Inc. acquired a new stake in Onto Innovation during the second quarter worth approximately $2,083,436,000. Wellington Management Group LLP increased its stake in Onto Innovation by 1,217.0% during the 3rd quarter. Wellington Management Group LLP now owns 1,398,995 shares of the semiconductor company's stock worth $180,778,000 after acquiring an additional 1,292,772 shares during the period. Franklin Resources Inc. grew its holdings in shares of Onto Innovation by 21.4% during the 4th quarter. Franklin Resources Inc. now owns 1,353,001 shares of the semiconductor company's stock worth $213,585,000 after purchasing an additional 238,500 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in shares of Onto Innovation by 45.4% in the fourth quarter. Geode Capital Management LLC now owns 1,127,532 shares of the semiconductor company's stock worth $178,024,000 after purchasing an additional 352,316 shares during the period. 98.35% of the stock is owned by institutional investors.

Onto Innovation Price Performance

Shares of NYSE:ONTO opened at $292.38 on Wednesday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 8.33 and a current ratio of 9.73. Onto Innovation Inc. has a 52 week low of $101.00 and a 52 week high of $386.46. The firm has a market cap of $14.35 billion, a PE ratio of 109.92, a price-to-earnings-growth ratio of 0.94 and a beta of 1.59. The firm's fifty day moving average is $303.38 and its 200-day moving average is $265.18.

Onto Innovation (NYSE:ONTO - Get Free Report) last announced its earnings results on Thursday, August 6th. The semiconductor company reported $1.93 EPS for the quarter, topping the consensus estimate of $1.69 by $0.24. Onto Innovation had a return on equity of 13.44% and a net margin of 11.84%.The firm had revenue of $343.13 million for the quarter, compared to the consensus estimate of $325.29 million. During the same period in the previous year, the business earned $1.25 EPS. The business's quarterly revenue was up 35.3% compared to the same quarter last year. Onto Innovation has set its Q3 2026 guidance at 2.180-2.380 EPS. Sell-side analysts predict that Onto Innovation Inc. will post 7.88 earnings per share for the current year.

Wall Street Analysts Forecast Growth

ONTO has been the subject of a number of analyst reports. Zacks Research raised Onto Innovation from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, July 14th. Morgan Stanley reissued an "overweight" rating and issued a $383.00 target price on shares of Onto Innovation in a report on Friday, August 7th. Freedom Capital upgraded shares of Onto Innovation to a "strong-buy" rating in a research report on Wednesday, June 17th. Oppenheimer upped their price target on shares of Onto Innovation from $370.00 to $450.00 and gave the stock an "outperform" rating in a report on Monday, June 22nd. Finally, Wall Street Zen upgraded shares of Onto Innovation from a "hold" rating to a "buy" rating in a research report on Sunday, August 9th. Two investment analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Buy" and an average price target of $380.30.

Insider Transactions at Onto Innovation

In other Onto Innovation news, Director Susan D. Lynch sold 1,000 shares of the company's stock in a transaction on Friday, August 21st. The shares were sold at an average price of $302.30, for a total transaction of $302,300.00. Following the sale, the director owned 2,684 shares of the company's stock, valued at approximately $811,373.20. This represents a 27.14% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.51% of the stock is currently owned by insiders.

Onto Innovation Profile

Onto Innovation NYSE: ONTO is a global supplier of advanced process control and inspection systems for semiconductor and electronics manufacturers. The company's solutions span metrology, inspection, defect review and lithography mask repair, helping customers optimize yield, reduce costs and improve device performance. By integrating high-resolution optical and e-beam tools with sophisticated software analytics, Onto Innovation enables wafer, mask and advanced packaging producers to maintain tight process control across leading-edge nodes and specialty applications.

Key products include high-throughput wafer metrology systems, optical and e-beam defect inspection platforms, mask inspection and repair tools, and data-driven software for yield management and process optimization.

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