HighTower Advisors LLC Increases Stock Holdings in Onto Innovation Inc. $ONTO

Key Points

• HighTower Advisors LLC increased its holdings in Onto Innovation Inc. by 33.7% during the first quarter, owning a total of 14,153 shares worth approximately $1.72 million.
• Several hedge funds also made significant changes, with MassMutual Private Wealth & Trust FSB boosting its holdings by 177.6%, reflecting strong institutional interest in the company.
• Onto Innovation reported $1.25 earnings per share for the quarter, falling slightly short of analysts' estimates, while its revenue increased by 4.7% year-over-year to $253.60 million.

HighTower Advisors LLC raised its position in shares of Onto Innovation Inc. (NYSE:ONTO - Free Report) by 33.7% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,153 shares of the semiconductor company's stock after acquiring an additional 3,566 shares during the period. HighTower Advisors LLC's holdings in Onto Innovation were worth $1,717,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the business. Massachusetts Financial Services Co. MA raised its stake in shares of Onto Innovation by 48.4% during the first 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 during the last quarter. Geneva Capital Management LLC boosted its holdings in Onto Innovation by 0.5% during the first quarter. Geneva Capital Management LLC now owns 1,015,323 shares of the semiconductor company's stock worth $123,199,000 after purchasing an additional 4,632 shares during the last quarter. Royal Bank of Canada boosted its holdings in Onto Innovation by 32.0% during the fourth quarter. Royal Bank of Canada now owns 485,408 shares of the semiconductor company's stock worth $80,903,000 after purchasing an additional 117,798 shares during the last quarter. Northern Trust Corp boosted its holdings in Onto Innovation by 21.7% during the fourth quarter. Northern Trust Corp now owns 479,478 shares of the semiconductor company's stock worth $79,915,000 after purchasing an additional 85,492 shares during the last quarter. Finally, Lazard Asset Management LLC lifted its stake in Onto Innovation by 80.9% in the fourth quarter. Lazard Asset Management LLC now owns 412,720 shares of the semiconductor company's stock valued at $68,786,000 after acquiring an additional 184,612 shares during the last quarter. 98.35% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on ONTO. Jefferies Financial Group set a $110.00 target price on shares of Onto Innovation and gave the stock a "hold" rating in a research note on Tuesday, May 20th. Needham & Company LLC lowered their price target on shares of Onto Innovation from $230.00 to $150.00 and set a "buy" rating on the stock in a research report on Friday, May 9th. Wall Street Zen raised shares of Onto Innovation from a "sell" rating to a "hold" rating in a report on Saturday, May 17th. Benchmark reduced 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. Finally, B. Riley reduced 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 research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $137.86.

Onto Innovation Stock Down 3.7%

ONTO stock traded down $4.04 during midday trading on Friday, reaching $105.26. 420,176 shares of the company's stock traded hands, compared to its average volume of 1,240,405. The company has a market cap of $5.16 billion, a price-to-earnings ratio of 26.08, a P/E/G ratio of 0.72 and a beta of 1.44. The firm's fifty day moving average price is $101.39 and its 200-day moving average price is $114.78. Onto Innovation Inc. has a 52 week low of $85.88 and a 52 week 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). The business had revenue of $253.60 million for the quarter, compared to analysts' expectations of $250.56 million. Onto Innovation had a net margin of 19.29% and a return on equity of 14.38%. Onto Innovation's revenue for the quarter was up 4.7% compared to the same quarter last year. During the same period last year, the company earned $1.32 earnings per share. Onto Innovation has set its Q3 2025 guidance at 0.750-0.950 EPS. Analysts forecast that Onto Innovation Inc. will post 6.26 earnings per share for the current year.

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.