Assenagon Asset Management S.A. Purchases 61,819 Shares of Onto Innovation Inc. $ONTO

Key Points

• Assenagon Asset Management S.A. significantly increased its holdings in Onto Innovation, purchasing an additional 61,819 shares, boosting its ownership by 81.6% to a total of 137,570 shares valued at approximately $13.9 million.
• Onto Innovation's stock performance shows considerable volatility, with a 52-week low of $85.88 and a high of $228.42, currently trading around $130.17.
• Despite seeing a revenue increase of 4.7% year-over-year, Onto Innovation reported earnings per share of $1.25 for the last quarter, missing estimates by $0.02, with analysts projecting an average earnings per share of 6.26 for the current year.

Assenagon Asset Management S.A. lifted its position in shares of Onto Innovation Inc. (NYSE:ONTO - Free Report) by 81.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 137,570 shares of the semiconductor company's stock after purchasing an additional 61,819 shares during the quarter. Assenagon Asset Management S.A. owned 0.28% of Onto Innovation worth $13,885,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the business. Massachusetts Financial Services Co. MA lifted its holdings in shares of Onto Innovation by 48.4% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 1,291,415 shares of the semiconductor company's stock valued at $156,700,000 after purchasing an additional 421,165 shares in the last quarter. Geneva Capital Management LLC lifted its stake in Onto Innovation by 0.5% in the first quarter. Geneva Capital Management LLC now owns 1,015,323 shares of the semiconductor company's stock valued at $123,199,000 after buying an additional 4,632 shares in the last quarter. Situational Awareness LP bought a new stake in Onto Innovation in the 1st quarter valued at $71,192,000. Wellington Management Group LLP lifted its position in Onto Innovation by 12.6% in the 1st quarter. Wellington Management Group LLP now owns 489,413 shares of the semiconductor company's stock valued at $59,385,000 after acquiring an additional 54,607 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its position in Onto Innovation by 76.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 482,256 shares of the semiconductor company's stock valued at $58,517,000 after acquiring an additional 208,907 shares in the last quarter. Institutional investors own 98.35% of the company's stock.

Onto Innovation Stock Performance

Shares of NYSE ONTO opened at $130.17 on Tuesday. Onto Innovation Inc. has a 52 week low of $85.88 and a 52 week high of $228.42. The stock has a market capitalization of $6.38 billion, a P/E ratio of 32.22, a PEG ratio of 0.83 and a beta of 1.58. The stock's fifty day moving average is $105.13 and its 200 day moving average is $108.77.

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

Analyst Ratings Changes

A number of analysts have recently commented on ONTO shares. B. Riley cut their price target on Onto Innovation from $160.00 to $145.00 and set a "buy" rating on the stock in a report on Friday, August 8th. Benchmark cut their target price on Onto Innovation from $190.00 to $160.00 and set a "buy" rating on the stock in a research note on Friday, August 8th. Finally, Cantor Fitzgerald cut their price objective on shares of Onto Innovation from $110.00 to $90.00 and set a "neutral" rating on the stock in a research report on Tuesday, June 24th. Five analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $137.86.

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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