NorthCrest Asset Manangement LLC Decreases Position in Onto Innovation Inc. $ONTO

Key Points

• NorthCrest Asset Management LLC has reduced its holdings in Onto Innovation Inc. by 25.6%, selling 3,410 shares during Q2, leaving them with 9,885 shares valued at approximately $1,028,000.
• Analysts have adjusted their price targets for Onto Innovation, with B. Riley reducing it from $160.00 to $145.00, while Benchmark lowered theirs from $190.00 to $160.00, maintaining a "buy" rating.
• Onto Innovation reported quarterly earnings of $1.25 EPS, missing estimates of $1.27, but noted a 4.7% increase in revenue year-over-year, totaling $253.60 million.

NorthCrest Asset Manangement LLC trimmed its holdings in Onto Innovation Inc. (NYSE:ONTO - Free Report) by 25.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,885 shares of the semiconductor company's stock after selling 3,410 shares during the quarter. NorthCrest Asset Manangement LLC's holdings in Onto Innovation were worth $1,028,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of the business. Jennison Associates LLC lifted its stake in Onto Innovation by 2.9% in the 1st quarter. Jennison Associates LLC now owns 3,142 shares of the semiconductor company's stock worth $381,000 after purchasing an additional 90 shares in the last quarter. Crossmark Global Holdings Inc. lifted its stake in Onto Innovation by 2.6% in the 1st quarter. Crossmark Global Holdings Inc. now owns 3,860 shares of the semiconductor company's stock worth $468,000 after purchasing an additional 98 shares in the last quarter. Peterson Wealth Services lifted its stake in Onto Innovation by 2.2% in the 1st quarter. Peterson Wealth Services now owns 4,585 shares of the semiconductor company's stock worth $556,000 after purchasing an additional 98 shares in the last quarter. Berbice Capital Management LLC lifted its stake in Onto Innovation by 33.3% in the 1st quarter. Berbice Capital Management LLC now owns 400 shares of the semiconductor company's stock worth $49,000 after purchasing an additional 100 shares in the last quarter. Finally, State of Michigan Retirement System lifted its stake in Onto Innovation by 0.9% in the 1st quarter. State of Michigan Retirement System now owns 11,800 shares of the semiconductor company's stock worth $1,432,000 after purchasing an additional 100 shares in the last quarter. 98.35% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have weighed in on ONTO shares. B. Riley decreased their target price on shares of Onto Innovation from $160.00 to $145.00 and set a "buy" rating on the stock in a research note on Friday, August 8th. Benchmark reduced their price target 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. Finally, Cantor Fitzgerald reduced their price target on shares of Onto Innovation from $110.00 to $90.00 and set a "neutral" rating on the stock in a research report on Tuesday, June 24th. Five investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, Onto Innovation currently has a consensus rating of "Moderate Buy" and an average target price of $137.86.

Onto Innovation Stock Down 0.6%

NYSE:ONTO opened at $122.61 on Friday. The company has a fifty day simple moving average of $104.51 and a two-hundred day simple moving average of $109.18. The company has a market cap of $6.01 billion, a price-to-earnings ratio of 30.35, a price-to-earnings-growth ratio of 0.84 and a beta of 1.58. 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 posted its quarterly earnings results on Thursday, August 7th. The semiconductor company reported $1.25 EPS for the quarter, missing the consensus estimate of $1.27 by ($0.02). The business had revenue of $253.60 million during the quarter, compared to analyst estimates of $250.56 million. Onto Innovation had a return on equity of 14.38% and a net margin of 19.29%.The business's revenue was up 4.7% on a year-over-year basis. During the same quarter last year, the firm earned $1.32 EPS. Onto Innovation has set its Q3 2025 guidance at 0.750-0.950 EPS. On average, analysts expect that Onto Innovation Inc. will post 6.26 EPS for the current year.

About Onto Innovation

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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