Northwestern Mutual Wealth Management Co. Takes Position in Onto Innovation Inc. $ONTO

Key Points

• Northwestern Mutual Wealth Management purchased 178,938 shares of Onto Innovation in the second quarter, valued at approximately $67.7 million and representing a 0.36% stake. Institutional investors collectively own 98.35% of the company.
• Analysts remain bullish, with a consensus “Buy” rating and an average price target of $380.30. Recent targets range as high as $450, including upgrades from Needham and Oppenheimer.
• Onto Innovation reported quarterly EPS of $1.93, beating estimates of $1.69, while revenue rose 35.3% year over year to $343.13 million. Shares opened at $293.68, compared with a 52-week range of $101.00 to $386.46.

Northwestern Mutual Wealth Management Co. purchased a new stake in shares of Onto Innovation Inc. (NYSE:ONTO - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 178,938 shares of the semiconductor company's stock, valued at approximately $67,719,000. Northwestern Mutual Wealth Management Co. owned 0.36% of Onto Innovation at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the business. Root Financial Partners LLC grew its stake in Onto Innovation by 71.2% during the 4th quarter. Root Financial Partners LLC now owns 178 shares of the semiconductor company's stock valued at $28,000 after acquiring an additional 74 shares in the last quarter. Transamerica Financial Advisors LLC increased its stake in Onto Innovation by 188.5% in the 4th quarter. Transamerica Financial Advisors LLC now owns 176 shares of the semiconductor company's stock valued at $28,000 after buying an additional 115 shares during the period. Millstone Evans Group LLC lifted its position in Onto Innovation by 147.8% in the 1st quarter. Millstone Evans Group LLC now owns 166 shares of the semiconductor company's stock worth $34,000 after buying an additional 99 shares in the last quarter. CoreCap Advisors LLC purchased a new stake in Onto Innovation in the 2nd quarter worth approximately $38,000. Finally, CIBC Private Wealth Group LLC grew its holdings in shares of Onto Innovation by 109.4% during the 4th quarter. CIBC Private Wealth Group LLC now owns 245 shares of the semiconductor company's stock valued at $39,000 after acquiring an additional 128 shares in the last quarter. 98.35% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the stock. Needham & Company LLC upped their price target on shares of Onto Innovation from $330.00 to $360.00 and gave the stock a "buy" rating in a research note on Friday, August 7th. Wall Street Zen upgraded Onto Innovation from a "hold" rating to a "buy" rating in a research note on Sunday, August 9th. Zacks Research raised Onto Innovation from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, July 14th. Oppenheimer raised their price target on Onto Innovation from $370.00 to $450.00 and gave the stock an "outperform" rating in a research note on Monday, June 22nd. Finally, Evercore reiterated an "outperform" rating and set a $390.00 price target on shares of Onto Innovation in a report on Friday, August 7th. Two investment analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of "Buy" and an average target price of $380.30.

Onto Innovation Stock Performance

Shares of ONTO opened at $293.68 on Friday. The firm has a market cap of $14.41 billion, a price-to-earnings ratio of 110.41, a price-to-earnings-growth ratio of 0.98 and a beta of 1.59. The company's fifty day moving average is $304.92 and its 200-day moving average is $263.43. The company has a quick ratio of 8.33, a current ratio of 9.73 and a debt-to-equity ratio of 0.77. Onto Innovation Inc. has a 12 month low of $101.00 and a 12 month high of $386.46.

Onto Innovation (NYSE:ONTO - Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The semiconductor company reported $1.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.69 by $0.24. The business had revenue of $343.13 million during the quarter, compared to analyst estimates 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 previous year, the business earned $1.25 EPS. Onto Innovation has set its Q3 2026 guidance at 2.180-2.380 EPS. Equities analysts expect that Onto Innovation Inc. will post 7.88 EPS for the current fiscal year.

Onto Innovation 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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