First Manhattan CO. LLC. Has $3.22 Million Holdings in Onto Innovation Inc. $ONTO

Key Points

• First Manhattan CO. LLC. reduced its stake in Onto Innovation Inc. by 13.7%, selling 4,203 shares during the first quarter, leaving it with a total of 26,499 shares valued at approximately $3.2 million.
• Wall Street analysts generally have a consensus rating of "Moderate Buy" for Onto Innovation, with price targets ranging from $90.00 to $230.00, reflecting mixed opinions on the company's performance and outlook.
• The company's recent earnings report indicated an EPS of $1.25, slightly below the consensus estimate of $1.27, despite revenue increasing by 4.7% year-over-year.

First Manhattan CO. LLC. lowered its position in Onto Innovation Inc. (NYSE:ONTO - Free Report) by 13.7% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 26,499 shares of the semiconductor company's stock after selling 4,203 shares during the quarter. First Manhattan CO. LLC. owned about 0.05% of Onto Innovation worth $3,215,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in ONTO. Situational Awareness LP bought a new stake in shares of Onto Innovation during the first quarter valued at approximately $71,192,000. Massachusetts Financial Services Co. MA raised its position in shares of Onto Innovation by 48.4% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 1,291,415 shares of the semiconductor company's stock worth $156,700,000 after buying an additional 421,165 shares in the last quarter. Vaughan Nelson Investment Management L.P. bought a new stake in shares of Onto Innovation during the 1st quarter worth about $31,175,000. D. E. Shaw & Co. Inc. raised its position in shares of Onto Innovation by 8,504.1% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 222,330 shares of the semiconductor company's stock worth $37,056,000 after buying an additional 219,746 shares in the last quarter. Finally, Nuveen LLC bought a new stake in shares of Onto Innovation in the 1st quarter worth approximately $25,853,000. Institutional investors own 98.35% of the company's stock.

Wall Street Analyst Weigh In

ONTO has been the topic of a number of research reports. Benchmark dropped their target price on shares of Onto Innovation from $190.00 to $160.00 and set a "buy" rating on the stock in a report on Friday, August 8th. 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. Wall Street Zen upgraded shares of Onto Innovation from a "sell" rating to a "hold" rating in a report on Saturday, May 17th. Cantor Fitzgerald dropped their target price on shares of Onto Innovation from $110.00 to $90.00 and set a "neutral" rating on the stock in a report on Tuesday, June 24th. Finally, B. Riley dropped their target price on shares of Onto Innovation from $160.00 to $145.00 and set a "buy" rating on the stock in a report on Friday, August 8th. Five investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $137.86.

Onto Innovation Price Performance

Onto Innovation stock traded up $0.13 during trading hours on Monday, hitting $104.20. The company had a trading volume of 223,868 shares, compared to its average volume of 1,232,575. The firm has a market capitalization of $5.11 billion, a P/E ratio of 25.84, a price-to-earnings-growth ratio of 0.71 and a beta of 1.58. The firm's fifty day moving average is $102.23 and its 200-day moving average is $111.08. Onto Innovation Inc. has a fifty-two week low of $85.88 and a fifty-two week high of $228.42.

Onto Innovation (NYSE:ONTO - Get Free Report) last released its quarterly earnings results 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). The business had revenue of $253.60 million for the quarter, compared to the consensus estimate of $250.56 million. Onto Innovation had a net margin of 19.29% and a return on equity of 14.38%. The firm's revenue for the quarter was up 4.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.32 EPS. Onto Innovation has set its Q3 2025 guidance at 0.750-0.950 EPS. Analysts anticipate that Onto Innovation Inc. will post 6.26 earnings per share for the current year.

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.