Northern Trust Corp Has $57.22 Million Stock Holdings in Onto Innovation Inc. $ONTO

Key Points

• Northern Trust Corp reduced its stake in Onto Innovation Inc. by 1.7%, now owning 471,540 shares valued at approximately $57.2 million.
• Several hedge funds increased their stakes in Onto Innovation, with Massachusetts Financial Services Co. MA leading with a 48.4% increase in the first quarter.
• Onto Innovation reported earnings per share of $1.25, falling short of analyst expectations of $1.27, while its revenue of $253.6 million exceeded estimates of $250.56 million, indicating a 4.7% year-over-year revenue growth.

Northern Trust Corp decreased its holdings in Onto Innovation Inc. (NYSE:ONTO - Free Report) by 1.7% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 471,540 shares of the semiconductor company's stock after selling 7,938 shares during the period. Northern Trust Corp owned about 0.97% of Onto Innovation worth $57,217,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Johnson Financial Group Inc. bought a new stake in Onto Innovation in the fourth quarter valued at approximately $38,000. Banque Cantonale Vaudoise bought a new position in shares of Onto Innovation during the first quarter worth approximately $29,000. MassMutual Private Wealth & Trust FSB increased its stake in shares of Onto Innovation by 177.6% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 236 shares of the semiconductor company's stock worth $29,000 after purchasing an additional 151 shares during the period. Migdal Insurance & Financial Holdings Ltd. increased its stake in shares of Onto Innovation by 79.4% during the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 244 shares of the semiconductor company's stock worth $30,000 after purchasing an additional 108 shares during the period. Finally, Larson Financial Group LLC increased its stake in shares of Onto Innovation by 3,700.0% during the first quarter. Larson Financial Group LLC now owns 266 shares of the semiconductor company's stock worth $32,000 after purchasing an additional 259 shares during the period. Institutional investors own 98.35% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on ONTO. Needham & Company LLC lowered their target price on Onto Innovation from $230.00 to $150.00 and set a "buy" rating on the stock in a research note on Friday, May 9th. Wall Street Zen upgraded Onto Innovation from a "sell" rating to a "hold" rating in a research note on Saturday, May 17th. Jefferies Financial Group set a $110.00 price target on Onto Innovation and gave the stock a "hold" rating in a research report on Tuesday, May 20th. B. Riley reduced their price target on Onto Innovation from $160.00 to $145.00 and set a "buy" rating on the stock in a research report on Friday, August 8th. Finally, Oppenheimer reduced their price target on Onto Innovation from $150.00 to $130.00 and set an "outperform" rating on the stock in a research report on Friday, May 9th. Five analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $137.86.

Onto Innovation Stock Down 3.2%

Shares of ONTO stock traded down $3.47 during trading hours on Monday, reaching $105.83. The company's stock had a trading volume of 1,081,161 shares, compared to its average volume of 1,413,422. The firm's 50 day simple moving average is $101.83 and its 200-day simple moving average is $113.00. The company has a market capitalization of $5.19 billion, a price-to-earnings ratio of 26.20, a PEG ratio of 0.71 and a beta of 1.58. Onto Innovation Inc. has a fifty-two week low of $85.88 and a fifty-two week high of $228.42.

Onto Innovation (NYSE:ONTO - Get Free Report) last issued its earnings results 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). The business had revenue of $253.60 million during the quarter, compared to analyst estimates of $250.56 million. Onto Innovation had a net margin of 19.29% and a return on equity of 14.38%. The company's revenue for the quarter was up 4.7% compared to the same quarter last year. During the same period in the prior year, the business posted $1.32 EPS. Onto Innovation has set its Q3 2025 guidance at 0.750-0.950 EPS. Sell-side analysts predict that Onto Innovation Inc. will post 6.26 earnings per share for the current year.

Onto Innovation Company 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.