Comerica Bank Sells 27,954 Shares of Onto Innovation Inc. $ONTO

Key Points

• Comerica Bank cut its stake in Onto Innovation by 69.1%, selling 27,954 shares and leaving it with 12,513 shares worth about $1.98 million as of the latest 13F filing.
• Onto Innovation beat Q1 EPS expectations ($1.42 vs. $1.38) with revenue of roughly $292M and set ambitious targets — >30% revenue growth for 2026 and a target Q4 operating margin above 30% — supported by product momentum like the Dragonfly G5 qualification.
• Analysts remain broadly positive (consensus "Buy" with an average target of $310.63 and several price-target raises), but the stock trades at a high valuation (P/E ~137) and faces execution risk after EPS declined year‑over‑year.

Comerica Bank lessened its stake in Onto Innovation Inc. (NYSE:ONTO - Free Report) by 69.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 12,513 shares of the semiconductor company's stock after selling 27,954 shares during the period. Comerica Bank's holdings in Onto Innovation were worth $1,975,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Principal Financial Group Inc. lifted its stake in shares of Onto Innovation by 31.2% in the 3rd quarter. Principal Financial Group Inc. now owns 145,532 shares of the semiconductor company's stock valued at $18,806,000 after acquiring an additional 34,567 shares during the last quarter. New York State Common Retirement Fund lifted its stake in shares of Onto Innovation by 64.9% in the 3rd quarter. New York State Common Retirement Fund now owns 117,232 shares of the semiconductor company's stock valued at $15,149,000 after acquiring an additional 46,118 shares during the last quarter. EFG Asset Management North America Corp. bought a new stake in shares of Onto Innovation in the 3rd quarter valued at about $1,549,000. Universal Beteiligungs und Servicegesellschaft mbH lifted its stake in shares of Onto Innovation by 36.6% in the 3rd quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 51,176 shares of the semiconductor company's stock valued at $6,613,000 after acquiring an additional 13,714 shares during the last quarter. Finally, Eagle Rock Investment Company LLC lifted its stake in shares of Onto Innovation by 99.3% in the 4th quarter. Eagle Rock Investment Company LLC now owns 10,037 shares of the semiconductor company's stock valued at $1,584,000 after acquiring an additional 5,000 shares during the last quarter. Institutional investors own 98.35% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on ONTO. Needham & Company LLC boosted their target price on Onto Innovation from $320.00 to $330.00 and gave the company a "buy" rating in a research note on Wednesday. Oppenheimer set a $370.00 target price on Onto Innovation in a research note on Wednesday. Cantor Fitzgerald boosted their target price on Onto Innovation from $275.00 to $300.00 and gave the company an "overweight" rating in a research note on Monday, April 6th. Weiss Ratings raised Onto Innovation from a "hold (c-)" rating to a "hold (c)" rating in a research report on Monday, April 27th. Finally, B. Riley Financial upped their price target on Onto Innovation from $275.00 to $310.00 and gave the company a "buy" rating in a research report on Monday, April 13th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average price target of $310.63.

Key Onto Innovation News

Here are the key news stories impacting Onto Innovation this week:

• Positive Sentiment: Q1 EPS beat street expectations ($1.42 vs. $1.38) and revenue hit a record ~$292M with ~10% sequential growth — showing demand strength in semiconductors. Onto Innovation Reports 2026 First Quarter Results
• Positive Sentiment: Management set ambitious forward targets: expecting 2026 revenue growth of >30% and targeting Q4 operating margin >30% — a clear signal of confidence in multi-quarter demand and margin expansion. Onto expects 2026 revenue growth of more than 30%
• Positive Sentiment: Product momentum: the Dragonfly G5 system qualified at leading 2.5D logic and HBM customers, supporting future revenue upside from new systems. Onto Innovation Reports 2026 First Quarter Results
• Positive Sentiment: Analyst support: Needham raised its price target to $330 and kept a Buy rating, indicating continued analyst confidence and potential upside. Analyst price target raise
• Neutral Sentiment: Revenue roughly matched consensus ($291.95M vs. $292.00M) — technically in line but not a clear upside surprise. Q1 earnings and revenues top estimates
• Neutral Sentiment: Full earnings call / transcript released — useful for investors who want management detail on bookings, backlog and timing of margin improvement. Q1 2026 Earnings Call Summary
• Negative Sentiment: EPS declined year-over-year (from $1.51 to $1.42) and the stock trades at a high multiple (PE ~106), which can trigger profit-taking and sensitivity to any execution risk — likely a driver of today’s sell-off despite the beat. Earnings beat; AI chip demand lifts revenue

Onto Innovation Price Performance

ONTO opened at $294.47 on Thursday. The business has a 50 day simple moving average of $233.97 and a two-hundred day simple moving average of $191.83. The firm has a market capitalization of $14.65 billion, a price-to-earnings ratio of 137.60, a PEG ratio of 1.51 and a beta of 1.70. Onto Innovation Inc. has a one year low of $85.88 and a one year high of $316.00.

Onto Innovation (NYSE:ONTO - Get Free Report) last released its quarterly earnings results on Tuesday, May 5th. The semiconductor company reported $1.42 EPS for the quarter, beating analysts' consensus estimates of $1.38 by $0.04. The business had revenue of $291.95 million during the quarter, compared to analyst estimates of $292.00 million. Onto Innovation had a return on equity of 11.84% and a net margin of 10.32%.Onto Innovation's quarterly revenue was up 9.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.51 EPS. As a group, sell-side analysts expect that Onto Innovation Inc. will post 6.72 EPS for the current fiscal 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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