Harbor Capital Advisors Inc. Raises Position in Onto Innovation Inc. $ONTO

Key Points

• Harbor Capital Advisors Inc. increased its stake in Onto Innovation Inc. by 63.9%, owning 23,906 shares valued at approximately $2.4 million after acquiring an additional 9,324 shares in the second quarter.
• Despite recent reports showing mixed analyst ratings, Onto Innovation has an average rating of "Moderate Buy" with a consensus price target of $137.86.
• Onto Innovation’s earnings report showed a 4.7% year-over-year revenue increase with earnings of $1.25 per share, slightly missing analysts' expectations of $1.27 per share.

Harbor Capital Advisors Inc. increased its position in shares of Onto Innovation Inc. (NYSE:ONTO - Free Report) by 63.9% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 23,906 shares of the semiconductor company's stock after purchasing an additional 9,324 shares during the quarter. Harbor Capital Advisors Inc.'s holdings in Onto Innovation were worth $2,413,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Concurrent Investment Advisors LLC acquired a new position in shares of Onto Innovation in the first quarter worth $217,000. GAMMA Investing LLC raised its holdings in shares of Onto Innovation by 75.0% in the first quarter. GAMMA Investing LLC now owns 1,069 shares of the semiconductor company's stock worth $130,000 after acquiring an additional 458 shares during the last quarter. Oppenheimer & Co. Inc. acquired a new position in shares of Onto Innovation in the first quarter worth $420,000. Oppenheimer Asset Management Inc. increased its stake in Onto Innovation by 16.3% in the first quarter. Oppenheimer Asset Management Inc. now owns 7,211 shares of the semiconductor company's stock valued at $875,000 after purchasing an additional 1,013 shares during the last quarter. Finally, State of Alaska Department of Revenue increased 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 valued at $701,000 after purchasing an additional 150 shares during the last quarter. 98.35% of the stock is owned by institutional investors and hedge funds.

Onto Innovation Price Performance

ONTO stock traded down $0.72 during trading on Friday, reaching $122.61. 5,037,302 shares of the stock traded hands, compared to its average volume of 1,144,949. The business's 50 day moving average price is $104.51 and its 200-day moving average price is $109.18. Onto Innovation Inc. has a 52-week low of $85.88 and a 52-week high of $228.42. The firm has a market capitalization of $6.01 billion, a PE ratio of 30.35, a P/E/G ratio of 0.84 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 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.27 by ($0.02). Onto Innovation had a net margin of 19.29% and a return on equity of 14.38%. The firm had revenue of $253.60 million for the quarter, compared to analysts' expectations of $250.56 million. During the same period last year, the firm posted $1.32 EPS. Onto Innovation's revenue was up 4.7% on a year-over-year basis. Onto Innovation has set its Q3 2025 guidance at 0.750-0.950 EPS. On average, equities research analysts predict that Onto Innovation Inc. will post 6.26 earnings per share for the current year.

Wall Street Analyst Weigh In

ONTO has been the subject of several analyst reports. Cantor Fitzgerald dropped their target price on Onto Innovation from $110.00 to $90.00 and set a "neutral" rating for the company in a research note on Tuesday, June 24th. Benchmark dropped their target price on Onto Innovation from $190.00 to $160.00 and set a "buy" rating for the company in a research note on Friday, August 8th. Finally, B. Riley dropped their target price on Onto Innovation from $160.00 to $145.00 and set a "buy" rating for the company in a research note on Friday, August 8th. Five equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, Onto Innovation currently 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.