Aberdeen Group plc Reduces Position in Onto Innovation Inc. $ONTO

Key Points

• Aberdeen Group plc significantly reduced its stake in Onto Innovation Inc. by 80% during the second quarter, resulting in holdings worth approximately $477,000.
• Multiple institutional investors have altered their positions, with KLP Kapitalforvaltning AS increasing its stake by 11.5% and new investment from 111 Capital valued at $474,000.
• Analysts have raised their ratings for Onto Innovation, with Jefferies Financial Group upgrading to a "buy" rating and increasing the price target from $100 to $170.

Aberdeen Group plc lessened its stake in shares of Onto Innovation Inc. (NYSE:ONTO - Free Report) by 80.0% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,728 shares of the semiconductor company's stock after selling 18,860 shares during the quarter. Aberdeen Group plc's holdings in Onto Innovation were worth $477,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. KLP Kapitalforvaltning AS lifted its holdings in shares of Onto Innovation by 11.5% in the 2nd quarter. KLP Kapitalforvaltning AS now owns 10,625 shares of the semiconductor company's stock valued at $1,072,000 after buying an additional 1,100 shares during the period. 111 Capital acquired a new stake in shares of Onto Innovation in the second quarter worth approximately $474,000. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Onto Innovation by 5.7% in the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 74,293 shares of the semiconductor company's stock valued at $7,498,000 after acquiring an additional 3,999 shares during the last quarter. Lecap Asset Management Ltd. raised its holdings in shares of Onto Innovation by 45.8% in the 2nd quarter. Lecap Asset Management Ltd. now owns 16,425 shares of the semiconductor company's stock worth $1,658,000 after purchasing an additional 5,158 shares during the period. Finally, Campbell Newman Asset Management Inc. increased its position in Onto Innovation by 7.1% during the 2nd quarter. Campbell Newman Asset Management Inc. now owns 18,800 shares of the semiconductor company's stock worth $1,897,000 after purchasing an additional 1,251 shares in the last quarter. Institutional investors and hedge funds own 98.35% of the company's stock.

Wall Street Analyst Weigh In

ONTO has been the topic of a number of recent research reports. Jefferies Financial Group raised shares of Onto Innovation from a "hold" rating to a "buy" rating and lifted their price target for the company from $100.00 to $170.00 in a research report on Tuesday, September 23rd. Weiss Ratings restated a "hold (c)" rating on shares of Onto Innovation in a research note on Wednesday, October 8th. B. Riley raised their target price on Onto Innovation from $145.00 to $170.00 and gave the company a "buy" rating in a report on Friday, October 10th. Oppenheimer boosted their target price on shares of Onto Innovation from $130.00 to $180.00 and gave the stock an "outperform" rating in a research report on Tuesday. Finally, Benchmark lowered their price objective on Onto Innovation from $190.00 to $160.00 and set a "buy" rating for the company in a research note on Friday, August 8th. Five research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $148.57.

Onto Innovation Price Performance

Shares of ONTO opened at $134.36 on Friday. The company has a market cap of $6.58 billion, a P/E ratio of 33.26, a PEG ratio of 0.91 and a beta of 1.61. The stock has a fifty day moving average price of $118.94 and a 200 day moving average price of $109.23. Onto Innovation Inc. has a 12 month low of $85.88 and a 12 month high of $228.42.

Onto Innovation (NYSE:ONTO - Get Free Report) last posted its earnings results on Thursday, August 7th. The semiconductor company reported $1.25 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.27 by ($0.02). Onto Innovation had a net margin of 19.29% and a return on equity of 14.38%. The firm had revenue of $253.60 million for the quarter, compared to analyst estimates of $250.56 million. During the same period in the previous year, the firm earned $1.32 earnings per share. The company's revenue for the quarter was up 4.7% on a year-over-year basis. Onto Innovation has set its Q3 2025 guidance at 0.750-0.950 EPS. As a group, research analysts anticipate that Onto Innovation Inc. will post 6.26 earnings per share for the current year.

Onto Innovation Profile

Onto Innovation Inc engages in the design, development, manufacture, and support of process control tools that performs optical metrology. The company offers lithography systems and process control analytical software. It also offers process and yield management solutions, and device packaging and test facilities through standalone systems for optical metrology, macro-defect inspection, packaging lithography, and transparent and opaque thin film measurements.

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