Onto Innovation Inc. $ONTO Shares Sold by Engineers Gate Manager LP

Engineers Gate Manager LP lessened its stake in shares of Onto Innovation Inc. (NYSE:ONTO - Free Report) by 71.3% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 3,611 shares of the semiconductor company's stock after selling 8,991 shares during the period. Engineers Gate Manager LP's holdings in Onto Innovation were worth $1,367,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. BlackRock Inc. purchased a new stake in shares of Onto Innovation during the second quarter valued at $2,083,436,000. Paradigm Capital Management Inc. NY acquired a new position in shares of Onto Innovation in the second quarter valued at about $416,839,000. William Blair Investment Management LLC purchased a new position in shares of Onto Innovation in the second quarter worth about $251,812,000. Franklin Resources Inc. raised its stake in shares of Onto Innovation by 21.4% in the fourth quarter. Franklin Resources Inc. now owns 1,353,001 shares of the semiconductor company's stock worth $213,585,000 after purchasing an additional 238,500 shares during the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of Onto Innovation by 45.4% during the fourth quarter. Geode Capital Management LLC now owns 1,127,532 shares of the semiconductor company's stock worth $178,024,000 after purchasing an additional 352,316 shares during the period. Institutional investors and hedge funds own 98.35% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Needham & Company LLC upped their target price on Onto Innovation from $330.00 to $360.00 and gave the company a "buy" rating in a research report on Friday, August 7th. Evercore reissued an "outperform" rating and set a $390.00 price target on shares of Onto Innovation in a research report on Friday, August 7th. Weiss Ratings upgraded shares of Onto Innovation from a "hold (c-)" rating to a "hold (c)" rating in a research note on Friday, August 21st. Jefferies Financial Group upped their price objective on shares of Onto Innovation from $350.00 to $400.00 and gave the company a "buy" rating in a report on Friday, August 7th. Finally, The Goldman Sachs Group began coverage on shares of Onto Innovation in a research note on Monday, August 17th. They issued a "buy" rating and a $400.00 price objective on the stock. Two investment analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, Onto Innovation has an average rating of "Buy" and a consensus price target of $378.00.

Onto Innovation Trading Up 2.8%

Shares of NYSE:ONTO opened at $250.45 on Friday. Onto Innovation Inc. has a 12-month low of $118.97 and a 12-month high of $386.46. The company has a market capitalization of $12.29 billion, a PE ratio of 94.15, a PEG ratio of 0.80 and a beta of 1.59. The business has a 50 day moving average of $283.22 and a two-hundred day moving average of $271.12. The company has a current ratio of 9.73, a quick ratio of 8.33 and a debt-to-equity ratio of 0.77.

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

Insider Buying and Selling

In other Onto Innovation news, Director Susan Lynch sold 1,000 shares of the company's stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $302.30, for a total value of $302,300.00. Following the completion of the transaction, the director owned 2,684 shares in the company, valued at approximately $811,373.20. This represents a 27.14% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 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 Company Profile

Onto Innovation Inc NYSE: ONTO develops process control, inspection, metrology and lithography systems used in the semiconductor and advanced packaging industries. Its technologies help chip manufacturers monitor and improve processes throughout wafer fabrication, packaging and other stages of production.

The company's products include optical metrology systems, wafer and macro-defect inspection tools, three-dimensional metrology solutions, lithography systems and process-control software.

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