Mirae Asset Global Investments Co. Ltd. Acquires 3,999 Shares of Onto Innovation Inc. $ONTO

Key Points

• Mirae Asset Global Investments increased its stake in Onto Innovation Inc. by 5.7%, acquiring an additional 3,999 shares, bringing its total to 74,293 shares worth approximately $7.5 million.
• Onto Innovation recently reported earnings per share of $1.25 for the quarter, slightly missing analysts' expectations while showing a year-over-year revenue increase of 4.7% to $253.6 million.
• Institutional investors own 98.35% of Onto Innovation, with Goldman Sachs Group increasing its position by an impressive 76.4% in the first quarter.

Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Onto Innovation Inc. (NYSE:ONTO - Free Report) by 5.7% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 74,293 shares of the semiconductor company's stock after acquiring an additional 3,999 shares during the quarter. Mirae Asset Global Investments Co. Ltd. owned approximately 0.15% of Onto Innovation worth $7,498,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in ONTO. Massachusetts Financial Services Co. MA lifted its position in shares of Onto Innovation by 48.4% in 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 purchasing an additional 421,165 shares during the period. Geneva Capital Management LLC lifted its holdings in Onto Innovation by 0.5% in the first quarter. Geneva Capital Management LLC now owns 1,015,323 shares of the semiconductor company's stock worth $123,199,000 after buying an additional 4,632 shares during the period. Situational Awareness LP bought a new stake in Onto Innovation during the 1st quarter valued at approximately $71,192,000. Wellington Management Group LLP grew its holdings in shares of Onto Innovation by 12.6% during the 1st quarter. Wellington Management Group LLP now owns 489,413 shares of the semiconductor company's stock worth $59,385,000 after acquiring an additional 54,607 shares during the period. Finally, Goldman Sachs Group Inc. raised its position in shares of Onto Innovation by 76.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 482,256 shares of the semiconductor company's stock worth $58,517,000 after acquiring an additional 208,907 shares in the last quarter. Institutional investors own 98.35% of the company's stock.

Onto Innovation Stock Up 3.1%

NYSE:ONTO opened at $144.10 on Monday. The stock has a market cap of $7.06 billion, a price-to-earnings ratio of 35.67, a PEG ratio of 0.97 and a beta of 1.61. The company's 50 day moving average price is $111.53 and its 200-day moving average price is $108.78. 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 announced its quarterly earnings data 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). Onto Innovation had a return on equity of 14.38% and a net margin of 19.29%.The firm had revenue of $253.60 million during the quarter, compared to analysts' expectations of $250.56 million. During the same quarter in the previous year, the firm earned $1.32 earnings per share. 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. As a group, sell-side analysts anticipate that Onto Innovation Inc. will post 6.26 earnings per share for the current year.

Analyst Upgrades and Downgrades

ONTO has been the topic of several research reports. Cantor Fitzgerald dropped their price target on Onto Innovation from $110.00 to $90.00 and set a "neutral" rating on the stock in a research report on Tuesday, June 24th. Weiss Ratings restated a "hold (c)" rating on shares of Onto Innovation in a report on Saturday, September 27th. 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 research report on Friday, August 8th. B. Riley lowered their price target on shares of Onto Innovation from $160.00 to $145.00 and set a "buy" rating for the company in a research report on Friday, August 8th. Finally, Jefferies Financial Group raised shares of Onto Innovation from a "hold" rating to a "buy" rating and boosted their price objective for the stock from $100.00 to $170.00 in a research note on Tuesday, September 23rd. Six investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $146.43.

Onto Innovation 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.

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