Citigroup Inc. Sells 264,517 Shares of Onto Innovation Inc. $ONTO

Key Points

• Citigroup cut its position in Onto Innovation by 92.3%, selling 264,517 shares and leaving 22,156 shares worth $2.863 million at quarter end.
• Institutional ownership is very high at 98.35%, with Vanguard boosting its stake to 5,667,404 shares and large inflows from Qube Research, Voya and a new Norges Bank position.
• Analysts have a consensus rating of Moderate Buy with a $252.50 target; shares recently traded down about 8.7% to $179.70, with a market cap near $8.93 billion and a PE around 65 after a slight EPS miss.

Citigroup Inc. cut its position in Onto Innovation Inc. (NYSE:ONTO - Free Report) by 92.3% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 22,156 shares of the semiconductor company's stock after selling 264,517 shares during the quarter. Citigroup Inc.'s holdings in Onto Innovation were worth $2,863,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in ONTO. Vanguard Group Inc. raised its stake in Onto Innovation by 5.5% in the 3rd quarter. Vanguard Group Inc. now owns 5,667,404 shares of the semiconductor company's stock worth $732,342,000 after purchasing an additional 294,393 shares in the last quarter. Paradigm Capital Management Inc. NY grew its position in shares of Onto Innovation by 0.7% during the 2nd quarter. Paradigm Capital Management Inc. NY now owns 1,112,839 shares of the semiconductor company's stock worth $112,319,000 after purchasing an additional 7,900 shares in the last quarter. Qube Research & Technologies Ltd increased its holdings in shares of Onto Innovation by 1,510.2% during the second quarter. Qube Research & Technologies Ltd now owns 901,180 shares of the semiconductor company's stock worth $90,956,000 after purchasing an additional 845,213 shares during the period. Voya Investment Management LLC increased its holdings in shares of Onto Innovation by 4,494.6% during the third quarter. Voya Investment Management LLC now owns 868,607 shares of the semiconductor company's stock worth $111,974,000 after purchasing an additional 849,702 shares during the period. Finally, Norges Bank acquired a new stake in shares of Onto Innovation in the second quarter valued at approximately $71,961,000. 98.35% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have recently weighed in on ONTO shares. Zacks Research upgraded Onto Innovation from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, December 31st. Oppenheimer restated an "outperform" rating and issued a $265.00 price target on shares of Onto Innovation in a research report on Friday, February 20th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Onto Innovation in a research report on Thursday, January 22nd. Jefferies Financial Group reiterated a "buy" rating and set a $300.00 price objective on shares of Onto Innovation in a research note on Friday, February 20th. Finally, Evercore reissued an "outperform" rating and issued a $250.00 target price on shares of Onto Innovation in a report on Thursday, February 19th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $252.50.

Onto Innovation Trading Down 8.7%

Shares of Onto Innovation stock opened at $179.70 on Friday. The firm's 50 day moving average is $202.94 and its 200 day moving average is $156.91. The firm has a market capitalization of $8.93 billion, a PE ratio of 64.87, a price-to-earnings-growth ratio of 1.03 and a beta of 1.47. Onto Innovation Inc. has a 1 year low of $85.88 and a 1 year high of $232.49.

Onto Innovation (NYSE:ONTO - Get Free Report) last posted its earnings results on Thursday, February 19th. The semiconductor company reported $1.26 earnings per share for the quarter, missing analysts' consensus estimates of $1.28 by ($0.02). The company had revenue of $266.87 million for the quarter, compared to the consensus estimate of $265.78 million. Onto Innovation had a return on equity of 12.20% and a net margin of 13.60%.The business's quarterly revenue was up 1.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.51 EPS. Onto Innovation has set its Q1 2026 guidance at 1.260-1.360 EPS. As a group, research analysts anticipate that Onto Innovation Inc. will post 6.26 earnings per share for the current year.

About Onto Innovation

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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