Legal & General Group Plc Takes Position in Onto Innovation Inc. $ONTO

Key Points

• Legal & General Group Plc acquired 69,700 shares of Onto Innovation in the second quarter, valued at approximately $26.4 million, while institutional investors collectively own 98.35% of the company.
• Analysts maintain a broadly positive outlook, with a consensus “Buy” rating and an average price target of $380.30; recent coverage includes buy ratings from Goldman Sachs and Deutsche Bank.
• Onto Innovation reported stronger-than-expected quarterly results, with EPS of $1.93 and revenue of $343.13 million, up 35.3% year over year. Shares opened at $270.85, down 7.4%, while a director separately sold 1,000 shares under a pre-arranged trading plan.

Legal & General Group Plc bought a new position in Onto Innovation Inc. (NYSE:ONTO - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 69,700 shares of the semiconductor company's stock, valued at approximately $26,378,000. Legal & General Group Plc owned approximately 0.14% of Onto Innovation as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. NewEdge Advisors LLC lifted its position in shares of Onto Innovation by 312.5% during the 1st quarter. NewEdge Advisors LLC now owns 4,121 shares of the semiconductor company's stock valued at $500,000 after acquiring an additional 3,122 shares during the period. Goldman Sachs Group Inc. grew its holdings in Onto Innovation by 76.4% in the first quarter. Goldman Sachs Group Inc. now owns 482,256 shares of the semiconductor company's stock worth $58,517,000 after purchasing an additional 208,907 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Onto Innovation by 8.8% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 163,259 shares of the semiconductor company's stock valued at $19,810,000 after purchasing an additional 13,175 shares in the last quarter. Cetera Investment Advisers increased its stake in Onto Innovation by 6.3% in the second quarter. Cetera Investment Advisers now owns 4,017 shares of the semiconductor company's stock valued at $405,000 after purchasing an additional 238 shares in the last quarter. Finally, Russell Investments Group Ltd. raised its holdings in shares of Onto Innovation by 182.4% during the second quarter. Russell Investments Group Ltd. now owns 6,631 shares of the semiconductor company's stock valued at $666,000 after purchasing an additional 4,283 shares during the period. 98.35% of the stock is currently owned by institutional investors.

Insider Activity at Onto Innovation

In related news, Director Susan D. Lynch sold 1,000 shares of the firm's stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $302.30, for a total transaction of $302,300.00. Following the transaction, the director directly owned 2,684 shares of the company's stock, valued at $811,373.20. This trade represents a 27.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.51% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. The Goldman Sachs Group initiated coverage on Onto Innovation in a research note on Monday, August 17th. They issued a "buy" rating and a $400.00 target price for the company. Weiss Ratings upgraded Onto Innovation from a "hold (c-)" rating to a "hold (c)" rating in a report on Friday, August 21st. Deutsche Bank Aktiengesellschaft began coverage on Onto Innovation in a research note on Friday, June 5th. They issued a "buy" rating and a $350.00 price objective for the company. Wall Street Zen raised Onto Innovation from a "hold" rating to a "buy" rating in a research report on Sunday, August 9th. Finally, Morgan Stanley reiterated an "overweight" rating and issued a $383.00 target price on shares of Onto Innovation in a report on Friday, August 7th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Buy" and an average price target of $380.30.

Onto Innovation Stock Down 7.4%

Shares of NYSE:ONTO opened at $270.85 on Friday. The stock has a market cap of $13.29 billion, a price-to-earnings ratio of 101.82, a PEG ratio of 0.90 and a beta of 1.59. The company has a quick ratio of 8.33, a current ratio of 9.73 and a debt-to-equity ratio of 0.77. Onto Innovation Inc. has a 12-month low of $101.00 and a 12-month high of $386.46. The business's 50 day moving average is $300.77 and its 200 day moving average is $266.53.

Onto Innovation (NYSE:ONTO - Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The semiconductor company reported $1.93 EPS for the quarter, beating analysts' consensus estimates of $1.69 by $0.24. Onto Innovation had a return on equity of 13.44% and a net margin of 11.84%.The business had revenue of $343.13 million during the quarter, compared to analyst estimates of $325.29 million. During the same period in the prior year, the firm posted $1.25 EPS. Onto Innovation's quarterly revenue was up 35.3% compared to the same quarter last year. Onto Innovation has set its Q3 2026 guidance at 2.180-2.380 EPS. On average, sell-side analysts forecast that Onto Innovation Inc. will post 7.88 earnings per share for the current fiscal year.

Onto Innovation Profile

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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