Bank of America Corp DE Sells 40,024 Shares of Onto Innovation Inc. $ONTO

Key Points

• Bank of America reduced its Onto Innovation stake by 17.2%, selling 40,024 shares in the first quarter. It retained 192,850 shares valued at approximately $39.5 million, while institutional investors collectively own 98.35% of the company.
• Onto Innovation reported stronger-than-expected quarterly results, with EPS of $1.93 versus the $1.69 consensus and revenue of $343.13 million. Revenue increased 35.3% year over year, and the company issued third-quarter 2026 EPS guidance of $2.18–$2.38.
• Analyst sentiment remains positive, with a consensus “Buy” rating and average price target of $378.11; Jefferies raised its target to $400. Shares opened at $338.50, up 0.3%, but trade at a high valuation with a P/E ratio of 127.26.

Bank of America Corp DE lowered its holdings in shares of Onto Innovation Inc. (NYSE:ONTO - Free Report) by 17.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 192,850 shares of the semiconductor company's stock after selling 40,024 shares during the quarter. Bank of America Corp DE owned approximately 0.39% of Onto Innovation worth $39,548,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ONTO. Root Financial Partners LLC boosted its stake in Onto Innovation by 71.2% during the fourth quarter. Root Financial Partners LLC now owns 178 shares of the semiconductor company's stock valued at $28,000 after buying an additional 74 shares during the last quarter. Transamerica Financial Advisors LLC increased its stake in Onto Innovation by 188.5% in the 4th quarter. Transamerica Financial Advisors LLC now owns 176 shares of the semiconductor company's stock worth $28,000 after acquiring an additional 115 shares during the last quarter. Millstone Evans Group LLC increased 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 last quarter. CIBC Private Wealth Group LLC raised its holdings in shares of Onto Innovation by 109.4% during the 4th quarter. CIBC Private Wealth Group LLC now owns 245 shares of the semiconductor company's stock worth $39,000 after acquiring an additional 128 shares in the last quarter. Finally, Los Angeles Capital Management LLC purchased a new stake in shares of Onto Innovation during the 4th quarter worth approximately $39,000. Institutional investors own 98.35% of the company's stock.

Onto Innovation Trading Up 0.3%

ONTO opened at $338.50 on Friday. The stock has a market cap of $16.61 billion, a price-to-earnings ratio of 127.26, a P/E/G ratio of 1.13 and a beta of 1.59. The stock's 50 day moving average price is $300.98 and its 200-day moving average price is $259.33. Onto Innovation Inc. has a one year low of $101.00 and a one 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 posted its quarterly earnings data 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. The company had revenue of $343.13 million during the quarter, compared to analysts' expectations of $325.29 million. Onto Innovation had a return on equity of 13.44% and a net margin of 11.84%.Onto Innovation's revenue was up 35.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.25 EPS. Onto Innovation has set its Q3 2026 guidance at 2.180-2.380 EPS. On average, equities analysts forecast that Onto Innovation Inc. will post 7.88 EPS for the current year.

Analysts Set New Price Targets

A number of research firms recently weighed in on ONTO. Jefferies Financial Group raised their target price on shares of Onto Innovation from $350.00 to $400.00 and gave the company a "buy" rating in a report on Friday, August 7th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Onto Innovation in a research report on Friday, June 5th. They set a "buy" rating and a $350.00 price objective for the company. Zacks Research raised shares of Onto Innovation from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, July 14th. Weiss Ratings downgraded shares of Onto Innovation from a "hold (c)" rating to a "hold (c-)" rating in a report on Friday, August 7th. Finally, B. Riley Financial restated a "buy" rating on shares of Onto Innovation in a research report on Friday, August 7th. Two analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average target price of $378.11.

Onto Innovation Profile

Onto Innovation NYSE: ONTO is a global supplier of advanced process control and inspection systems for semiconductor and electronics manufacturers. The company's solutions span metrology, inspection, defect review and lithography mask repair, helping customers optimize yield, reduce costs and improve device performance. By integrating high-resolution optical and e-beam tools with sophisticated software analytics, Onto Innovation enables wafer, mask and advanced packaging producers to maintain tight process control across leading-edge nodes and specialty applications.

Key products include high-throughput wafer metrology systems, optical and e-beam defect inspection platforms, mask inspection and repair tools, and data-driven software for yield management and process optimization.

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