Bank of Nova Scotia Makes New $8.81 Million Investment in Onto Innovation Inc. $ONTO

Bank of Nova Scotia acquired a new position in shares of Onto Innovation Inc. (NYSE:ONTO - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 23,274 shares of the semiconductor company's stock, valued at approximately $8,811,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. NewEdge Advisors LLC lifted its stake in Onto Innovation by 312.5% during the first quarter. NewEdge Advisors LLC now owns 4,121 shares of the semiconductor company's stock worth $500,000 after purchasing an additional 3,122 shares during the period. Goldman Sachs Group Inc. grew its stake in shares of 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 purchasing an additional 208,907 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of Onto Innovation by 8.8% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 163,259 shares of the semiconductor company's stock valued at $19,810,000 after purchasing an additional 13,175 shares during the period. Cetera Investment Advisers raised its holdings in shares of Onto Innovation by 6.3% in the 2nd quarter. Cetera Investment Advisers now owns 4,017 shares of the semiconductor company's stock worth $405,000 after buying an additional 238 shares in the last quarter. Finally, Russell Investments Group Ltd. raised its holdings in shares of Onto Innovation by 182.4% in the 2nd quarter. Russell Investments Group Ltd. now owns 6,631 shares of the semiconductor company's stock worth $666,000 after buying an additional 4,283 shares in the last quarter. 98.35% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

ONTO has been the topic of several analyst reports. Oppenheimer upped their target price on shares of Onto Innovation from $370.00 to $450.00 and gave the stock an "outperform" rating in a report on Monday, June 22nd. Wall Street Zen raised shares of Onto Innovation from a "hold" rating to a "buy" rating in a report on Sunday, August 9th. Needham & Company LLC boosted their price target on shares of Onto Innovation from $330.00 to $360.00 and gave the company a "buy" rating in a research report on Friday, August 7th. B. Riley Financial reiterated a "buy" rating on shares of Onto Innovation in a research note on Friday, August 7th. Finally, Cantor Fitzgerald raised their target price on Onto Innovation from $350.00 to $410.00 and gave the company an "overweight" rating in a research note on Monday, June 29th. Two 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. Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average price target of $380.30.

Onto Innovation Price Performance

Shares of ONTO stock opened at $283.21 on Tuesday. Onto Innovation Inc. has a 52-week low of $101.00 and a 52-week high of $386.46. The stock has a market cap of $13.90 billion, a PE ratio of 106.47, a PEG ratio of 0.98 and a beta of 1.59. The company has a debt-to-equity ratio of 0.77, a quick ratio of 8.33 and a current ratio of 9.73. The firm's 50 day moving average price is $303.86 and its two-hundred day moving average price is $264.45.

Onto Innovation (NYSE:ONTO - Get Free Report) last posted its quarterly earnings results on Thursday, August 6th. The semiconductor company reported $1.93 earnings per share for the quarter, beating analysts' consensus estimates of $1.69 by $0.24. The company had revenue of $343.13 million for the quarter, compared to the consensus estimate of $325.29 million. Onto Innovation had a return on equity of 13.44% and a net margin of 11.84%.The firm's quarterly revenue was up 35.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.25 EPS. Onto Innovation has set its Q3 2026 guidance at 2.180-2.380 EPS. As a group, analysts forecast that Onto Innovation Inc. will post 7.88 EPS for the current year.

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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