Comerica Bank Trims Stake in Onto Innovation Inc. $ONTO

Key Points

• Comerica Bank has decreased its holdings in Onto Innovation Inc. by 16.7%, selling 5,731 shares to hold approximately 0.06% of the company valued at $3.46 million.
• Onto Innovation's stock recently traded down 3.2% and has a market capitalization of $5.19 billion, with a current price-to-earnings ratio of 26.20.
• The company reported $1.25 earnings per share in its latest quarter, slightly missing the consensus estimate, while revenue reached $253.60 million, marking a 4.7% increase year-over-year.

Comerica Bank lessened its holdings in Onto Innovation Inc. (NYSE:ONTO - Free Report) by 16.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 28,508 shares of the semiconductor company's stock after selling 5,731 shares during the period. Comerica Bank owned about 0.06% of Onto Innovation worth $3,459,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Concurrent Investment Advisors LLC purchased a new stake in shares of Onto Innovation in the first quarter worth approximately $217,000. GAMMA Investing LLC grew its holdings in Onto Innovation by 75.0% during the first quarter. GAMMA Investing LLC now owns 1,069 shares of the semiconductor company's stock worth $130,000 after buying an additional 458 shares in the last quarter. Oppenheimer & Co. Inc. bought a new stake in Onto Innovation during the first quarter worth $420,000. Oppenheimer Asset Management Inc. lifted its stake in Onto Innovation by 16.3% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 7,211 shares of the semiconductor company's stock valued at $875,000 after acquiring an additional 1,013 shares in the last quarter. Finally, State of Alaska Department of Revenue boosted its holdings in Onto Innovation by 2.7% during the 1st quarter. State of Alaska Department of Revenue now owns 5,785 shares of the semiconductor company's stock worth $701,000 after acquiring an additional 150 shares during the last quarter. Institutional investors own 98.35% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Needham & Company LLC lowered their target price on shares of Onto Innovation from $230.00 to $150.00 and set a "buy" rating for the company in a report on Friday, May 9th. Oppenheimer dropped their target price on shares of Onto Innovation from $150.00 to $130.00 and set an "outperform" rating on the stock in a research report on Friday, May 9th. Cantor Fitzgerald cut their target price on Onto Innovation from $110.00 to $90.00 and set a "neutral" rating on the stock in a research note on Tuesday, June 24th. Wall Street Zen raised Onto Innovation from a "sell" rating to a "hold" rating in a research report on Saturday, May 17th. Finally, Jefferies Financial Group set a $110.00 price target on Onto Innovation and gave the stock a "hold" rating in a report on Tuesday, May 20th. Five investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $137.86.

Onto Innovation Price Performance

Shares of NYSE ONTO traded up $0.01 during trading on Thursday, reaching $102.67. 494,186 shares of the stock traded hands, compared to its average volume of 1,235,171. Onto Innovation Inc. has a 52-week low of $85.88 and a 52-week high of $228.42. The company has a 50-day moving average of $102.08 and a 200-day moving average of $112.87. The stock has a market capitalization of $5.03 billion, a P/E ratio of 25.47, a price-to-earnings-growth ratio of 0.71 and a beta of 1.58.

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

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.