81,503 Onto Innovation Inc. $ONTO Shares Sold by Assenagon Asset Management S.A.

Key Points

• Assenagon Asset Management cut its Onto Innovation stake by 56.7% during the third quarter, selling 81,503 shares and retaining 62,243 shares worth about $19.2 million. Institutional investors collectively own 98.35% of the company.
• Analysts remain broadly bullish, with Onto Innovation holding a consensus “Buy” rating and an average price target of $380. Several firms recently raised their targets, including Oppenheimer to $450.
• Onto Innovation reported stronger-than-expected quarterly results, with EPS of $1.93 and revenue of $343.13 million, up 35.3% year over year. Company directors also disclosed stock sales conducted under pre-arranged trading plans.

Assenagon Asset Management S.A. decreased its position in Onto Innovation Inc. (NYSE:ONTO - Free Report) by 56.7% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 62,243 shares of the semiconductor company's stock after selling 81,503 shares during the quarter. Assenagon Asset Management S.A. owned about 0.13% of Onto Innovation worth $19,160,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Fiduciary Financial Advisors purchased a new position in shares of Onto Innovation during the second quarter valued at approximately $25,000. Highland Investment Advisors LLC acquired a new stake in Onto Innovation during the second quarter worth approximately $25,000. Millstone Evans Group LLC grew its stake in Onto Innovation by 147.8% in the 1st quarter. Millstone Evans Group LLC now owns 166 shares of the semiconductor company's stock worth $34,000 after acquiring an additional 99 shares during the period. CoreCap Advisors LLC purchased a new stake in Onto Innovation in the 2nd quarter worth approximately $38,000. Finally, Rakuten Securities Inc. purchased a new stake in Onto Innovation in the 2nd quarter worth approximately $40,000. 98.35% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms recently weighed in on ONTO. Needham & Company LLC increased their target price on Onto Innovation from $330.00 to $360.00 and gave the stock a "buy" rating in a research report on Friday, August 7th. Oppenheimer raised their price target on Onto Innovation from $370.00 to $450.00 and gave the stock an "outperform" rating in a research note on Monday, June 22nd. Evercore restated an "outperform" rating and issued a $390.00 price target on shares of Onto Innovation in a report on Friday, August 7th. Weiss Ratings raised shares of Onto Innovation from a "hold (c-)" rating to a "hold (c)" rating in a research note on Friday, August 21st. Finally, Wall Street Zen raised shares of Onto Innovation from a "hold" rating to a "buy" rating in a research note on Sunday, August 9th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus price target of $380.00.

Insider Buying and Selling at Onto Innovation

In other Onto Innovation news, Director David Miller sold 2,000 shares of the stock in a transaction on Tuesday, September 29th. The shares were sold at an average price of $300.00, for a total transaction of $600,000.00. Following the sale, the director directly owned 10,692 shares of the company's stock, valued at approximately $3,207,600. This represents a 15.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Susan D. Lynch sold 1,000 shares of the firm's stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $302.30, for a total transaction of $302,300.00. Following the completion of the transaction, the director owned 2,684 shares in the company, valued at approximately $811,373.20. The trade was a 27.14% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.51% of the stock is owned by insiders.

Onto Innovation Price Performance

ONTO opened at $220.13 on Monday. The company has a 50-day moving average of $285.01 and a 200-day moving average of $283.56. The company has a market capitalization of $10.80 billion, a P/E ratio of 82.76, a PEG ratio of 0.72 and a beta of 1.58. Onto Innovation Inc. has a 1-year low of $118.97 and a 1-year high of $386.46. 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 (NYSE:ONTO - Get Free Report) last issued its earnings results on Thursday, August 6th. The semiconductor company reported $1.93 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.69 by $0.24. Onto Innovation had a net margin of 11.84% and a return on equity of 13.44%. The business had revenue of $343.13 million for the quarter, compared to analyst estimates of $325.29 million. During the same quarter in the prior year, the business posted $1.25 EPS. The company's revenue for the quarter was up 35.3% on a year-over-year basis. Onto Innovation has set its Q3 2026 guidance at 2.180-2.380 EPS. Equities analysts expect that Onto Innovation Inc. will post 8.04 EPS for the current fiscal year.

Onto Innovation Company Profile

Onto Innovation Inc NYSE: ONTO develops process control and inspection equipment used by semiconductor manufacturers and advanced packaging companies. Its products help customers monitor, measure and improve manufacturing processes throughout the production of integrated circuits, wafers and packaged semiconductor devices.

The company offers optical metrology systems, wafer and macro-defect inspection tools, advanced packaging inspection and metrology solutions, lithography systems, and process control software.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.