Moody National Bank Trust Division Sells 4,842 Shares of Onto Innovation Inc. $ONTO

Key Points

• Moody National Bank Trust Division reduced its Onto Innovation stake by 69.6% in the third quarter, selling 4,842 shares and retaining 2,113 shares worth approximately $650,000.
• Institutional investors and hedge funds own 98.35% of Onto Innovation, while company insiders own just 0.51%; two directors also sold shares under pre-arranged Rule 10b5-1 plans.
• Onto Innovation reported stronger-than-expected quarterly results, with $1.93 EPS and $343.13 million in revenue, up 35.3% year over year. Analysts maintain a consensus “Buy” rating with a $380 price target.

Moody National Bank Trust Division trimmed its holdings in shares of Onto Innovation Inc. (NYSE:ONTO - Free Report) by 69.6% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,113 shares of the semiconductor company's stock after selling 4,842 shares during the period. Moody National Bank Trust Division's holdings in Onto Innovation were worth $650,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also made changes to their positions in the company. BlackRock Inc. purchased a new stake in Onto Innovation during the second quarter worth approximately $2,083,436,000. Paradigm Capital Management Inc. NY purchased a new position in Onto Innovation in the second quarter valued at approximately $416,839,000. William Blair Investment Management LLC acquired a new stake in Onto Innovation during the second quarter worth approximately $251,812,000. Franklin Resources Inc. lifted its position in shares of Onto Innovation by 21.4% during the 4th quarter. Franklin Resources Inc. now owns 1,353,001 shares of the semiconductor company's stock worth $213,585,000 after buying an additional 238,500 shares during the last quarter. Finally, Bank of New York Mellon Corp acquired a new position in shares of Onto Innovation in the 2nd quarter valued at $162,052,000. 98.35% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director David Miller sold 2,000 shares of Onto Innovation stock in a transaction dated Tuesday, September 29th. The stock was sold at an average price of $300.00, for a total transaction of $600,000.00. Following the completion of the sale, the director owned 10,692 shares in the company, valued at approximately $3,207,600. This trade represents a 15.76% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Susan D. Lynch sold 1,000 shares of Onto Innovation stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $302.30, for a total transaction of $302,300.00. Following the completion of the sale, the director directly owned 2,684 shares of the company's stock, valued at $811,373.20. The trade was a 27.14% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.51% of the company's stock.

Onto Innovation Stock Performance

Shares of Onto Innovation stock opened at $304.35 on Thursday. The firm's fifty day simple moving average is $287.10 and its 200-day simple moving average is $280.96. The stock has a market capitalization of $14.93 billion, a price-to-earnings ratio of 114.42, a PEG ratio of 1.03 and a beta of 1.58. Onto Innovation Inc. has a 12 month low of $118.97 and a 12 month high of $386.46. The company has a debt-to-equity ratio of 0.77, a current ratio of 9.73 and a quick ratio of 8.33.

Onto Innovation (NYSE:ONTO - Get Free Report) last issued its quarterly earnings results on Thursday, August 6th. The semiconductor company reported $1.93 earnings per share for the quarter, topping analysts' consensus estimates of $1.69 by $0.24. The firm had revenue of $343.13 million during the quarter, compared to analysts' expectations of $325.29 million. Onto Innovation had a net margin of 11.84% and a return on equity of 13.44%. Onto Innovation's quarterly revenue was up 35.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.25 EPS. Onto Innovation has set its Q3 2026 guidance at 2.180-2.380 EPS. As a group, equities analysts forecast that Onto Innovation Inc. will post 8.04 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages recently commented on ONTO. The Goldman Sachs Group initiated coverage on shares of Onto Innovation in a research note on Monday, August 17th. They set a "buy" rating and a $400.00 price target on the stock. Zacks Research upgraded shares of Onto Innovation from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, July 14th. Wall Street Zen raised Onto Innovation from a "hold" rating to a "buy" rating in a report on Sunday, August 9th. B. Riley Financial reiterated a "buy" rating on shares of Onto Innovation in a research report on Friday, August 7th. Finally, Needham & Company LLC boosted their target price on Onto Innovation from $330.00 to $360.00 and gave the company a "buy" rating in a report on Friday, August 7th. Two research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Buy" and a consensus price target of $380.00.

About Onto Innovation

Onto Innovation Inc NYSE: ONTO develops process control, inspection, metrology and lithography solutions for the semiconductor and advanced packaging industries. Its technologies help chip manufacturers monitor and control production processes, identify defects and improve yields during the fabrication of integrated circuits and other electronic components.

The company's product portfolio includes optical and materials metrology systems, wafer and macro-defect inspection equipment, lithography systems, software and data-analysis tools, and solutions for semiconductor packaging and related applications.

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