Bank of America Corp DE Buys New Stake in Onto Innovation Inc. $ONTO

Key Points

• Bank of America acquired 187,939 Onto Innovation shares worth approximately $71.1 million in the second quarter, representing about 0.38% of the semiconductor equipment company. Institutional investors collectively own 98.35% of ONTO.
• Analysts remain broadly bullish, with an average rating of “Buy” and an average price target of $378. Several firms recently raised targets, including Cantor Fitzgerald at $410 and Goldman Sachs at $400.
• Onto Innovation exceeded quarterly expectations, reporting $1.93 in EPS versus a $1.69 consensus estimate and $343.1 million in revenue. Revenue increased 35.3% year over year, while the company guided for third-quarter EPS of $2.18–$2.38.

Bank of America Corp DE bought a new stake in Onto Innovation Inc. (NYSE:ONTO - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 187,939 shares of the semiconductor company's stock, valued at approximately $71,126,000. Bank of America Corp DE owned approximately 0.38% of Onto Innovation as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of ONTO. Freestone Grove Partners LP acquired a new stake in Onto Innovation in the second quarter worth about $7,377,000. Man Group plc acquired a new stake in shares of Onto Innovation during the second quarter worth $12,032,000. Polar Asset Management Partners Inc. purchased a new stake in shares of Onto Innovation during the second quarter valued at $3,620,000. Jupiter Topco LLC acquired a new position in shares of Onto Innovation in the 2nd quarter valued at $24,380,000. Finally, Hsbc Holdings PLC purchased a new position in Onto Innovation in the 2nd quarter worth $2,364,000. 98.35% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on ONTO shares. The Goldman Sachs Group assumed coverage on Onto Innovation in a research note on Monday, August 17th. They set a "buy" rating and a $400.00 price target on the stock. Needham & Company LLC raised their price objective on Onto Innovation from $330.00 to $360.00 and gave the stock a "buy" rating in a research note on Friday, August 7th. B. Riley Financial reaffirmed a "buy" rating on shares of Onto Innovation in a report on Friday, August 7th. Deutsche Bank Aktiengesellschaft started coverage on Onto Innovation in a research report on Friday, June 5th. They issued a "buy" rating and a $350.00 target price on the stock. Finally, Cantor Fitzgerald raised their price target on shares of Onto Innovation from $350.00 to $410.00 and gave the stock an "overweight" rating in a research report on Monday, June 29th. Two analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Buy" and an average target price of $378.00.

Onto Innovation Stock Up 5.9%

Onto Innovation stock opened at $264.74 on Friday. The business's 50-day moving average price is $282.08 and its 200 day moving average price is $271.08. The company has a quick ratio of 8.33, a current ratio of 9.73 and a debt-to-equity ratio of 0.77. The firm has a market cap of $12.99 billion, a price-to-earnings ratio of 99.53, a price-to-earnings-growth ratio of 0.86 and a beta of 1.59. Onto Innovation Inc. has a 52 week low of $118.97 and a 52 week high of $386.46.

Onto Innovation (NYSE:ONTO - Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The semiconductor company reported $1.93 EPS for the quarter, topping the consensus estimate of $1.69 by $0.24. The business had revenue of $343.13 million for the quarter, compared to analyst estimates of $325.29 million. Onto Innovation had a return on equity of 13.44% and a net margin of 11.84%.The business's quarterly revenue was up 35.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.25 EPS. Onto Innovation has set its Q3 2026 guidance at 2.180-2.380 EPS. As a group, sell-side analysts anticipate that Onto Innovation Inc. will post 8.04 earnings per share for the current year.

Insider Buying and Selling at Onto Innovation

In other Onto Innovation news, Director Susan Lynch sold 1,000 shares of the firm's stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $302.30, for a total value of $302,300.00. Following the sale, the director directly owned 2,684 shares of the company's stock, valued at approximately $811,373.20. This trade represents a 27.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, 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 corporate insiders.

Onto Innovation Company Profile

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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