EFG Asset Management North America Corp. Raises Holdings in Onto Innovation Inc. $ONTO

Key Points

• EFG Asset Management North America Corp. increased its stake in Onto Innovation Inc. by 37.4% during the first quarter, owning a total of 26,067 shares valued at approximately $3.16 million.
• Onto Innovation reported $1.25 earnings per share (EPS) for the last quarter, slightly missing the estimated $1.27 EPS, but exceeded revenue expectations with $253.60 million in revenue.
• According to recent analyst ratings, Onto Innovation holds an average rating of "Moderate Buy" with a consensus price target of $137.86.

EFG Asset Management North America Corp. grew its holdings in Onto Innovation Inc. (NYSE:ONTO - Free Report) by 37.4% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 26,067 shares of the semiconductor company's stock after acquiring an additional 7,097 shares during the quarter. EFG Asset Management North America Corp. owned about 0.05% of Onto Innovation worth $3,161,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the business. Alliancebernstein L.P. increased its holdings in shares of Onto Innovation by 50.5% in the 1st quarter. Alliancebernstein L.P. now owns 331,996 shares of the semiconductor company's stock valued at $40,284,000 after acquiring an additional 111,372 shares during the last quarter. Amundi increased its holdings in shares of Onto Innovation by 199.2% in the 1st quarter. Amundi now owns 347,900 shares of the semiconductor company's stock valued at $42,214,000 after acquiring an additional 231,629 shares during the last quarter. Quarry LP increased its holdings in shares of Onto Innovation by 3,611.1% in the 1st quarter. Quarry LP now owns 1,336 shares of the semiconductor company's stock valued at $162,000 after acquiring an additional 1,300 shares during the last quarter. Value Aligned Research Advisors LLC boosted its position in shares of Onto Innovation by 24.1% in the 1st quarter. Value Aligned Research Advisors LLC now owns 223,840 shares of the semiconductor company's stock valued at $27,161,000 after purchasing an additional 43,489 shares during the period. Finally, Panagora Asset Management Inc. acquired a new stake in shares of Onto Innovation in the 1st quarter valued at about $20,844,000. Hedge funds and other institutional investors own 98.35% of the company's stock.

Onto Innovation Stock Performance

Onto Innovation stock traded down $0.49 during mid-day trading on Monday, reaching $103.59. 997,446 shares of the company were exchanged, compared to its average volume of 1,237,494. Onto Innovation Inc. has a twelve month low of $85.88 and a twelve month high of $228.42. The firm's 50-day simple moving average is $102.23 and its two-hundred day simple moving average is $111.08. The firm has a market cap of $5.08 billion, a PE ratio of 25.64, 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 data on Thursday, August 7th. The semiconductor company reported $1.25 earnings per share for the quarter, missing analysts' consensus estimates of $1.27 by ($0.02). Onto Innovation had a return on equity of 14.38% and a net margin of 19.29%.The company had revenue of $253.60 million for the quarter, compared to analyst estimates of $250.56 million. During the same period in the previous year, the business posted $1.32 earnings per share. The firm's revenue 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. As a group, equities research analysts anticipate that Onto Innovation Inc. will post 6.26 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages recently issued reports on ONTO. Cantor Fitzgerald decreased their target price on Onto Innovation from $110.00 to $90.00 and set a "neutral" rating for the company in a research report on Tuesday, June 24th. B. Riley decreased their target price on Onto Innovation from $160.00 to $145.00 and set a "buy" rating for the company in a research report on Friday, August 8th. Benchmark decreased their target price on Onto Innovation from $190.00 to $160.00 and set a "buy" rating for the company in a research report on Friday, August 8th. Jefferies Financial Group set a $110.00 target price on Onto Innovation and gave the company a "hold" rating in a research report on Tuesday, May 20th. Finally, Wall Street Zen raised Onto Innovation from a "sell" rating to a "hold" rating in a research report on Saturday, May 17th. Five research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, Onto Innovation has a consensus rating of "Moderate Buy" and a consensus target price of $137.86.

Onto Innovation Company 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.