Element Capital Management LLC Invests $2.49 Million in Onto Innovation Inc. $ONTO

Key Points

• Element Capital Management LLC has made a new investment of approximately $2.49 million in Onto Innovation Inc., acquiring 20,480 shares of the semiconductor company.
• Onto Innovation reported a quarterly EPS of $1.25, slightly missing analyst estimates but showing a 4.7% revenue increase compared to the previous year.
• The stock currently has a consensus rating of "Moderate Buy" from analysts, with an average price target of $137.86 following various revisions in ratings and price targets.

Element Capital Management LLC bought a new stake in shares of Onto Innovation Inc. (NYSE:ONTO - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 20,480 shares of the semiconductor company's stock, valued at approximately $2,485,000.

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

Onto Innovation Stock Performance

ONTO traded down $1.1410 during trading on Tuesday, hitting $107.5190. 1,026,502 shares of the stock were exchanged, compared to its average volume of 1,264,438. The firm has a 50 day simple moving average of $99.99 and a 200 day simple moving average of $118.61. The firm has a market cap of $5.27 billion, a price-to-earnings ratio of 26.61, a P/E/G ratio of 0.72 and a beta of 1.44. Onto Innovation Inc. has a 1 year low of $85.88 and a 1 year high of $228.42.

Onto Innovation (NYSE:ONTO - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The semiconductor company reported $1.25 EPS for the quarter, missing the consensus estimate of $1.27 by ($0.02). Onto Innovation had a return on equity of 14.38% and a net margin of 19.29%.The firm had revenue of $253.60 million for the quarter, compared to analysts' expectations of $250.56 million. During the same quarter in the previous year, the business earned $1.32 earnings per share. 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. As a group, equities analysts anticipate that Onto Innovation Inc. will post 6.26 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. Oppenheimer dropped their target price on Onto Innovation from $150.00 to $130.00 and set an "outperform" rating on the stock in a report on Friday, May 9th. B. Riley lowered their price objective on shares of Onto Innovation from $160.00 to $145.00 and set a "buy" rating on the stock in a research note on Friday, August 8th. Benchmark lowered their target price on Onto Innovation from $190.00 to $160.00 and set a "buy" rating on the stock in a research 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. Finally, Jefferies Financial Group set a $110.00 target price on shares of Onto Innovation and gave the stock a "hold" rating in a report on Tuesday, May 20th. Five research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $137.86.

About Onto Innovation

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.