Moody National Bank Trust Division Reduces Stock Position in Onto Innovation Inc. $ONTO

Key Points

• Moody National Bank Trust Division cut its Onto Innovation stake by 49.5% in the second quarter, selling 6,810 shares and retaining 6,955 shares valued at approximately $2.63 million.
• Onto Innovation reported quarterly earnings of $1.42 per share, exceeding analyst expectations of $1.38, while revenue rose 9.5% year over year to $291.95 million.
• Analysts maintain a generally positive outlook, with the stock carrying a consensus “Buy” rating and an average price target of $339.60, compared with a recent share price of $288.64.

Moody National Bank Trust Division lowered its stake in shares of Onto Innovation Inc. (NYSE:ONTO - Free Report) by 49.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,955 shares of the semiconductor company's stock after selling 6,810 shares during the period. Moody National Bank Trust Division's holdings in Onto Innovation were worth $2,632,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in ONTO. CWM LLC increased its position in shares of Onto Innovation by 361.2% during the fourth quarter. CWM LLC now owns 20,068 shares of the semiconductor company's stock valued at $3,168,000 after buying an additional 15,717 shares during the period. Entropy Technologies LP purchased a new stake in shares of Onto Innovation in the first quarter worth about $2,877,000. M&T Bank Corp boosted its position in shares of Onto Innovation by 11,228.9% in the fourth quarter. M&T Bank Corp now owns 341,112 shares of the semiconductor company's stock valued at $53,848,000 after acquiring an additional 338,101 shares during the period. Fideuram Asset Management Ireland dac bought a new position in shares of Onto Innovation in the fourth quarter valued at approximately $1,583,000. Finally, Ticino Wealth purchased a new position in Onto Innovation during the fourth quarter valued at approximately $3,286,000. 98.35% of the stock is owned by institutional investors.

Onto Innovation Trading Up 7.5%

Shares of NYSE ONTO opened at $288.64 on Wednesday. The business has a 50-day moving average of $295.61 and a 200-day moving average of $254.91. The firm has a market capitalization of $14.36 billion, a price-to-earnings ratio of 134.88, a PEG ratio of 1.10 and a beta of 1.59. Onto Innovation Inc. has a 12 month low of $89.40 and a 12 month high of $386.46.

Onto Innovation (NYSE:ONTO - Get Free Report) last announced its earnings results on Tuesday, May 5th. The semiconductor company reported $1.42 earnings per share for the quarter, beating analysts' consensus estimates of $1.38 by $0.04. Onto Innovation had a net margin of 10.32% and a return on equity of 11.68%. The business had revenue of $291.95 million for the quarter, compared to the consensus estimate of $292.00 million. During the same period last year, the firm posted $1.51 earnings per share. Onto Innovation's quarterly revenue was up 9.5% on a year-over-year basis. On average, analysts predict that Onto Innovation Inc. will post 7.14 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Stifel Nicolaus set a $350.00 target price on shares of Onto Innovation and gave the stock a "buy" rating in a report on Friday, April 17th. Weiss Ratings reissued a "hold (c)" rating on shares of Onto Innovation in a report on Friday, July 24th. Zacks Research upgraded shares of Onto Innovation from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, July 14th. Wall Street Zen cut shares of Onto Innovation from a "buy" rating to a "hold" rating in a report on Saturday. Finally, Deutsche Bank Aktiengesellschaft began coverage on Onto Innovation in a research report on Friday, June 5th. They issued a "buy" rating and a $350.00 price objective on the stock. Two 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 stock. According to data from MarketBeat.com, the company has a consensus rating of "Buy" and an average target price of $339.60.

Onto Innovation Company 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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