Onto Innovation Inc. $ONTO Shares Sold by Great Lakes Advisors LLC

Key Points

• Great Lakes Advisors LLC significantly reduced its stake in Onto Innovation Inc. by 97.8%, selling 87,868 shares and retaining only 1,996 shares, valued at $242,000.
• Onto Innovation reported earnings of $1.25 per share for the last quarter, slightly missing analysts' consensus estimate of $1.27, while its revenue increased by 4.7% year-over-year.
• Analysts have mixed views on the stock, with five giving a Buy rating and two a Hold rating, and a consensus price target set at $137.86.

Great Lakes Advisors LLC lowered its holdings in Onto Innovation Inc. (NYSE:ONTO - Free Report) by 97.8% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,996 shares of the semiconductor company's stock after selling 87,868 shares during the quarter. Great Lakes Advisors LLC's holdings in Onto Innovation were worth $242,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the business. Fred Alger Management LLC lifted its stake in shares of Onto Innovation by 121.6% during the 1st quarter. Fred Alger Management LLC now owns 16,253 shares of the semiconductor company's stock worth $1,972,000 after purchasing an additional 8,919 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in Onto Innovation by 76.4% in the first quarter. Goldman Sachs Group Inc. now owns 482,256 shares of the semiconductor company's stock worth $58,517,000 after purchasing an additional 208,907 shares in the last quarter. Nissay Asset Management Corp Japan ADV lifted its position in shares of Onto Innovation by 9.6% during the first quarter. Nissay Asset Management Corp Japan ADV now owns 11,601 shares of the semiconductor company's stock valued at $1,408,000 after buying an additional 1,017 shares during the last quarter. NewEdge Advisors LLC grew its position in shares of Onto Innovation by 312.5% in the 1st quarter. NewEdge Advisors LLC now owns 4,121 shares of the semiconductor company's stock worth $500,000 after buying an additional 3,122 shares during the last quarter. Finally, Granahan Investment Management LLC grew its position in shares of Onto Innovation by 113.8% in the 1st quarter. Granahan Investment Management LLC now owns 57,101 shares of the semiconductor company's stock worth $6,929,000 after buying an additional 30,397 shares during the last quarter. Hedge funds and other institutional investors own 98.35% of the company's stock.

Onto Innovation Stock Performance

NYSE ONTO traded up $5.26 on Monday, reaching $116.24. 1,896,577 shares of the company's stock traded hands, compared to its average volume of 925,568. Onto Innovation Inc. has a fifty-two week low of $85.88 and a fifty-two week high of $228.42. The firm has a market cap of $5.70 billion, a price-to-earnings ratio of 28.77, a P/E/G ratio of 0.75 and a beta of 1.58. The stock has a 50 day moving average price of $103.08 and a 200-day moving average price of $109.23.

Onto Innovation (NYSE:ONTO - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The semiconductor company reported $1.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.27 by ($0.02). Onto Innovation had a net margin of 19.29% and a return on equity of 14.38%. The company had revenue of $253.60 million during the quarter, compared to analyst estimates of $250.56 million. During the same period last year, the firm earned $1.32 EPS. The business's quarterly revenue was up 4.7% compared to the same quarter last year. Onto Innovation has set its Q3 2025 guidance at 0.750-0.950 EPS. As a group, equities research analysts anticipate that Onto Innovation Inc. will post 6.26 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. Benchmark decreased their target price on shares of Onto Innovation from $190.00 to $160.00 and set a "buy" rating for the company in a research report on Friday, August 8th. B. Riley dropped their target price on Onto Innovation from $160.00 to $145.00 and set a "buy" rating on the stock in a research note on Friday, August 8th. Cantor Fitzgerald decreased their price target on Onto Innovation from $110.00 to $90.00 and set a "neutral" rating for the company in a research note on Tuesday, June 24th. Finally, Jefferies Financial Group set a $110.00 price target on shares of Onto Innovation and gave the company a "hold" rating in a research note on Tuesday, May 20th. Five analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, Onto Innovation presently has a consensus rating of "Moderate Buy" and a consensus target price of $137.86.

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.