Magnetar Financial LLC Purchases 42,701 Shares of Onto Innovation Inc. $ONTO

Key Points

• Magnetar Financial LLC increased its stake in Onto Innovation Inc. by 224.8%, now holding 61,698 shares worth approximately $7.5 million.
• According to analysts, Onto Innovation received a mix of rating adjustments, with a consensus price target of $137.86 and an average recommendation of "Moderate Buy."
• In its most recent quarter, Onto Innovation reported earnings per share of $1.25, slightly missing the consensus estimate, but its revenue of $253.60 million surpassed expectations.

Magnetar Financial LLC increased its stake in Onto Innovation Inc. (NYSE:ONTO - Free Report) by 224.8% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 61,698 shares of the semiconductor company's stock after purchasing an additional 42,701 shares during the quarter. Magnetar Financial LLC owned 0.13% of Onto Innovation worth $7,486,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. MassMutual Private Wealth & Trust FSB grew its stake in Onto Innovation by 177.6% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 236 shares of the semiconductor company's stock valued at $29,000 after acquiring an additional 151 shares during the last quarter. Banque Cantonale Vaudoise acquired a new position in shares of Onto Innovation in the 1st quarter valued at $29,000. Migdal Insurance & Financial Holdings Ltd. boosted its holdings in shares of Onto Innovation by 79.4% in the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 244 shares of the semiconductor company's stock valued at $30,000 after purchasing an additional 108 shares during the last quarter. Larson Financial Group LLC raised its holdings in Onto Innovation by 3,700.0% in the first quarter. Larson Financial Group LLC now owns 266 shares of the semiconductor company's stock valued at $32,000 after buying an additional 259 shares during the period. Finally, Berbice Capital Management LLC raised its holdings in Onto Innovation by 33.3% in the first quarter. Berbice Capital Management LLC now owns 400 shares of the semiconductor company's stock valued at $49,000 after buying an additional 100 shares during the period. Hedge funds and other institutional investors own 98.35% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. B. Riley dropped their price objective 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 for the company in a report on Friday, August 8th. Wall Street Zen raised shares of Onto Innovation from a "sell" rating to a "hold" rating in a report on Saturday, May 17th. Cantor Fitzgerald dropped 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. Finally, Needham & Company LLC cut their price objective on Onto Innovation from $230.00 to $150.00 and set a "buy" rating on the stock in a report on Friday, May 9th. Five analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $137.86.

Onto Innovation Price Performance

Shares of NYSE ONTO traded down $0.92 during trading hours on Wednesday, reaching $102.98. The stock had a trading volume of 136,610 shares, compared to its average volume of 1,235,855. The business's fifty day moving average is $101.98 and its two-hundred day moving average is $112.94. The company has a market cap of $5.05 billion, a price-to-earnings ratio of 25.50, a PEG ratio of 0.71 and a beta of 1.58. Onto Innovation Inc. has a twelve month low of $85.88 and a twelve month high of $228.42.

Onto Innovation (NYSE:ONTO - Get Free Report) last announced its 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 for the quarter, compared to the consensus estimate of $250.56 million. Onto Innovation had a return on equity of 14.38% and a net margin of 19.29%.Onto Innovation's revenue for the quarter was up 4.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.32 EPS. Onto Innovation has set its Q3 2025 guidance at 0.750-0.950 EPS. Sell-side analysts forecast that Onto Innovation Inc. will post 6.26 earnings per share for the current fiscal year.

Onto Innovation 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.