Amundi Lowers Stake in Onto Innovation Inc. $ONTO

Key Points

• Amundi reduced its Onto Innovation stake by 85.3% in the second quarter, selling 111,461 shares and retaining 19,223 shares valued at approximately $7.3 million.
• Analysts remain broadly bullish, with 12 of 13 covering analysts rating the stock Buy or Strong Buy and a consensus price target of $378.
• Onto Innovation reported better-than-expected quarterly results, including EPS of $1.93 versus the $1.69 estimate and revenue growth of 35.3% year over year.

Amundi cut its holdings in Onto Innovation Inc. (NYSE:ONTO - Free Report) by 85.3% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 19,223 shares of the semiconductor company's stock after selling 111,461 shares during the quarter. Amundi's holdings in Onto Innovation were worth $7,275,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Fiduciary Financial Advisors acquired a new position in Onto Innovation in the 2nd quarter valued at about $25,000. Highland Investment Advisors LLC purchased a new position in shares of Onto Innovation in the 2nd quarter valued at approximately $25,000. Root Financial Partners LLC grew its stake in shares of Onto Innovation by 71.2% in the 4th quarter. Root Financial Partners LLC now owns 178 shares of the semiconductor company's stock valued at $28,000 after purchasing an additional 74 shares during the last quarter. Transamerica Financial Advisors LLC increased its holdings in shares of Onto Innovation by 188.5% in the fourth quarter. Transamerica Financial Advisors LLC now owns 176 shares of the semiconductor company's stock valued at $28,000 after purchasing an additional 115 shares during the period. Finally, Millstone Evans Group LLC increased its holdings in shares of Onto Innovation by 147.8% in the first quarter. Millstone Evans Group LLC now owns 166 shares of the semiconductor company's stock valued at $34,000 after purchasing an additional 99 shares during the period. 98.35% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on ONTO shares. Cantor Fitzgerald increased their price target on Onto Innovation from $350.00 to $410.00 and gave the stock an "overweight" rating in a report on Monday, June 29th. Jefferies Financial Group boosted their price objective on shares of Onto Innovation from $350.00 to $400.00 and gave the company a "buy" rating in a research note on Friday, August 7th. B. Riley Financial restated a "buy" rating on shares of Onto Innovation in a research report on Friday, August 7th. Freedom Capital upgraded shares of Onto Innovation to a "strong-buy" rating in a research note on Wednesday, June 17th. Finally, Morgan Stanley lowered their target price on shares of Onto Innovation from $383.00 to $360.00 and set an "overweight" rating on the stock in a report on Tuesday. Two research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Buy" and a consensus price target of $378.00.

Onto Innovation Stock Up 4.5%

ONTO opened at $280.94 on Friday. Onto Innovation Inc. has a 52 week low of $107.55 and a 52 week high of $386.46. The firm has a market cap of $13.79 billion, a P/E ratio of 105.62, a PEG ratio of 0.92 and a beta of 1.59. The business's fifty day simple moving average is $287.29 and its 200 day simple moving average is $269.97. The company has a quick ratio of 8.33, a current ratio of 9.73 and a debt-to-equity ratio of 0.77.

Onto Innovation (NYSE:ONTO - Get Free Report) last issued its quarterly earnings results on Thursday, August 6th. The semiconductor company reported $1.93 earnings per share for the quarter, beating 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 company had revenue of $343.13 million during the quarter, compared to the consensus estimate of $325.29 million. During the same period in the previous year, the firm posted $1.25 EPS. Onto Innovation's revenue was up 35.3% on a year-over-year basis. Onto Innovation has set its Q3 2026 guidance at 2.180-2.380 EPS. As a group, equities research analysts anticipate that Onto Innovation Inc. will post 8.04 EPS for the current fiscal year.

Insider Buying and Selling at Onto Innovation

In related news, Director Susan Lynch sold 1,000 shares of the company's stock in a transaction that occurred 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 completion of the transaction, 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 document filed with the SEC, which is accessible 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.

About Onto Innovation

Onto Innovation Inc NYSE: ONTO develops process control, inspection, metrology and lithography systems used in the semiconductor and advanced packaging industries. Its technologies help chip manufacturers monitor and improve processes throughout wafer fabrication, packaging and other stages of production.

The company's products include optical metrology systems, wafer and macro-defect inspection tools, three-dimensional metrology solutions, lithography systems and process-control software.

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