Jennison Associates LLC Acquires 631,965 Shares of Onto Innovation Inc. $ONTO

Key Points

• Jennison Associates boosted its stake by 1,293.5% in Q4, buying 631,965 shares to hold 680,822 shares (about 1.39% of Onto) valued at roughly $107.5 million, while institutional investors own 98.35% of the stock.
• Analysts are broadly positive: Onto has a consensus Buy rating with a $300.63 average price target, and several firms recently lifted targets into the $315–$350 range.
• Financials and valuation: Q4 EPS was $1.26 (missed by $0.02) on $266.9M revenue, Q1 2026 guidance is $1.260–$1.360, and the shares trade near $295 with a $14.67B market cap and a P/E around 106.5.

Jennison Associates LLC raised its holdings in shares of Onto Innovation Inc. (NYSE:ONTO - Free Report) by 1,293.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 680,822 shares of the semiconductor company's stock after acquiring an additional 631,965 shares during the quarter. Jennison Associates LLC owned about 1.39% of Onto Innovation worth $107,475,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Canandaigua National Bank & Trust Co. bought a new stake in Onto Innovation during the 4th quarter valued at $202,000. Keybank National Association OH bought a new position in shares of Onto Innovation in the fourth quarter worth $627,000. Torren Management LLC bought a new position in shares of Onto Innovation in the fourth quarter worth $49,000. M&T Bank Corp increased its holdings in shares of Onto Innovation by 107.6% in the fourth quarter. M&T Bank Corp now owns 6,251 shares of the semiconductor company's stock worth $987,000 after purchasing an additional 3,240 shares during the period. Finally, Pictet Asset Management Holding SA increased its holdings in shares of Onto Innovation by 4.9% in the fourth quarter. Pictet Asset Management Holding SA now owns 7,600 shares of the semiconductor company's stock worth $1,200,000 after purchasing an additional 356 shares during the period. Institutional investors own 98.35% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on ONTO. Evercore reaffirmed an "outperform" rating and issued a $315.00 price target on shares of Onto Innovation in a report on Friday, April 17th. Oppenheimer upped their price target on shares of Onto Innovation from $265.00 to $350.00 and gave the stock an "outperform" rating in a report on Friday, April 17th. Stifel Nicolaus set a $350.00 price target on shares of Onto Innovation and gave the stock a "buy" rating in a report on Friday, April 17th. Weiss Ratings raised shares of Onto Innovation from a "hold (c-)" rating to a "hold (c)" rating in a report on Monday. Finally, Jefferies Financial Group reaffirmed a "buy" rating and issued a $300.00 price target on shares of Onto Innovation in a report on Friday, February 20th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, Onto Innovation presently has a consensus rating of "Buy" and a consensus price target of $300.63.

Onto Innovation Stock Up 3.7%

ONTO opened at $294.98 on Friday. The stock has a market cap of $14.67 billion, a PE ratio of 106.49, a P/E/G ratio of 1.41 and a beta of 1.47. Onto Innovation Inc. has a 52 week low of $85.88 and a 52 week high of $316.00. The business's fifty day simple moving average is $230.54 and its 200 day simple moving average is $188.68.

Onto Innovation (NYSE:ONTO - Get Free Report) last released its earnings results on Thursday, February 19th. The semiconductor company reported $1.26 EPS for the quarter, missing analysts' consensus estimates of $1.28 by ($0.02). The firm had revenue of $266.87 million during the quarter, compared to the consensus estimate of $265.78 million. Onto Innovation had a net margin of 13.60% and a return on equity of 12.20%. The firm's revenue was up 1.1% compared to the same quarter last year. During the same period in the prior year, the company earned $1.51 EPS. Onto Innovation has set its Q1 2026 guidance at 1.260-1.360 EPS. As a group, equities analysts anticipate that Onto Innovation Inc. will post 6.72 earnings per share for the current year.

About Onto Innovation

Onto Innovation NYSE: ONTO is a global supplier of advanced process control and inspection systems for semiconductor and electronics manufacturers. The company's solutions span metrology, inspection, defect review and lithography mask repair, helping customers optimize yield, reduce costs and improve device performance. By integrating high-resolution optical and e-beam tools with sophisticated software analytics, Onto Innovation enables wafer, mask and advanced packaging producers to maintain tight process control across leading-edge nodes and specialty applications.

Key products include high-throughput wafer metrology systems, optical and e-beam defect inspection platforms, mask inspection and repair tools, and data-driven software for yield management and process optimization.

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