Canada Pension Plan Investment Board Lowers Stake in Onto Innovation Inc. $ONTO

Key Points

• The Canada Pension Plan Investment Board reduced its stake in Onto Innovation Inc. by 48.0%, now holding approximately 0.07% of the company's shares worth $4,101,000.
• Onto Innovation reported earnings of $1.25 EPS for the quarter, missing expectations of $1.27, with a revenue of $253.60 million, slightly above analyst forecasts.
• Several analysts have adjusted their price targets for Onto Innovation, with B. Riley reducing their price objective from $160.00 to $145.00 while maintaining a "buy" rating.

Canada Pension Plan Investment Board lessened its holdings in shares of Onto Innovation Inc. (NYSE:ONTO - Free Report) by 48.0% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 33,800 shares of the semiconductor company's stock after selling 31,200 shares during the quarter. Canada Pension Plan Investment Board owned about 0.07% of Onto Innovation worth $4,101,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of ONTO. Situational Awareness LP purchased a new stake in Onto Innovation during the 1st quarter valued at $71,192,000. Trexquant Investment LP acquired a new position in Onto Innovation in the first quarter valued at approximately $9,322,000. Silvant Capital Management LLC increased its position in shares of Onto Innovation by 2.1% in the 1st quarter. Silvant Capital Management LLC now owns 4,958 shares of the semiconductor company's stock valued at $602,000 after purchasing an additional 101 shares during the last quarter. Smartleaf Asset Management LLC lifted its holdings in shares of Onto Innovation by 27.2% during the first quarter. Smartleaf Asset Management LLC now owns 697 shares of the semiconductor company's stock worth $85,000 after purchasing an additional 149 shares during the period. Finally, Circle Wealth Management LLC increased its stake in shares of Onto Innovation by 8.3% during the 1st quarter. Circle Wealth Management LLC now owns 6,023 shares of the semiconductor company's stock worth $731,000 after purchasing an additional 464 shares in the last quarter. Hedge funds and other institutional investors own 98.35% of the company's stock.

Onto Innovation Trading Down 0.4%

ONTO stock traded down $0.38 during trading on Monday, reaching $103.69. 522,714 shares of the stock were exchanged, compared to its average volume of 1,234,229. The stock has a 50 day simple moving average of $102.23 and a 200-day simple moving average of $111.08. The company has a market capitalization of $5.08 billion, a P/E ratio of 25.69, a price-to-earnings-growth ratio of 0.71 and a beta of 1.58. Onto Innovation Inc. has a twelve month low of $85.88 and a twelve month high of $228.42.

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

Analysts Set New Price Targets

A number of analysts have weighed in on ONTO shares. B. Riley dropped their target price on shares of Onto Innovation from $160.00 to $145.00 and set a "buy" rating on the stock in a report on Friday, August 8th. Wall Street Zen raised shares of Onto Innovation from a "sell" rating to a "hold" rating in a report on Saturday, May 17th. Cantor Fitzgerald dropped their target price 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. Jefferies Financial Group set a $110.00 price objective on shares of Onto Innovation and gave the stock a "hold" rating in a report on Tuesday, May 20th. Finally, 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. Five research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, Onto Innovation has a consensus rating of "Moderate Buy" and an average price target 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.