Onto Innovation Inc. $ONTO Shares Sold by Public Employees Retirement System of Ohio

Key Points

• The Public Employees Retirement System of Ohio has significantly reduced its stake in Onto Innovation Inc. by 59.9%, now holding 15,346 shares worth approximately $1.5 million.
• Several institutional investors, including Massachusetts Financial Services and Goldman Sachs, have recently increased their positions in Onto Innovation, contributing to a high institutional ownership of 98.35%.
• Equities analysts have varied price targets for Onto Innovation's stock, with B. Riley and Benchmark lowering their targets, while Jefferies Financial Group has upgraded their rating, indicating a consensus rating of "Moderate Buy" with a target of $146.43.

Public Employees Retirement System of Ohio cut its stake in Onto Innovation Inc. (NYSE:ONTO - Free Report) by 59.9% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,346 shares of the semiconductor company's stock after selling 22,923 shares during the period. Public Employees Retirement System of Ohio's holdings in Onto Innovation were worth $1,549,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of the stock. Massachusetts Financial Services Co. MA boosted its stake in Onto Innovation by 48.4% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 1,291,415 shares of the semiconductor company's stock worth $156,700,000 after purchasing an additional 421,165 shares in the last quarter. Geneva Capital Management LLC boosted its stake in Onto Innovation by 0.5% in the 1st quarter. Geneva Capital Management LLC now owns 1,015,323 shares of the semiconductor company's stock worth $123,199,000 after purchasing an additional 4,632 shares in the last quarter. Situational Awareness LP purchased a new position in Onto Innovation during the 1st quarter worth approximately $71,192,000. Wellington Management Group LLP raised its position in Onto Innovation by 12.6% during the 1st quarter. Wellington Management Group LLP now owns 489,413 shares of the semiconductor company's stock worth $59,385,000 after buying an additional 54,607 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its position in Onto Innovation by 76.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 482,256 shares of the semiconductor company's stock worth $58,517,000 after buying an additional 208,907 shares during the last quarter. 98.35% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on ONTO shares. Weiss Ratings reissued a "hold (c)" rating on shares of Onto Innovation in a research report on Saturday, September 27th. 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 research report on Friday, August 8th. B. Riley reduced their price target on shares of Onto Innovation from $160.00 to $145.00 and set a "buy" rating for the company in a research report on Friday, August 8th. Cantor Fitzgerald reduced their price target on shares of Onto Innovation from $110.00 to $90.00 and set a "neutral" rating for the company in a research report on Tuesday, June 24th. Finally, Jefferies Financial Group raised shares of Onto Innovation from a "hold" rating to a "buy" rating and raised their price target for the stock from $100.00 to $170.00 in a research report on Tuesday, September 23rd. Six research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, Onto Innovation currently has an average rating of "Moderate Buy" and a consensus price target of $146.43.

Onto Innovation Stock Performance

Shares of NYSE ONTO opened at $144.10 on Friday. The firm has a market cap of $7.06 billion, a PE ratio of 35.67, a PEG ratio of 0.95 and a beta of 1.61. The firm has a fifty day moving average of $111.53 and a 200 day moving average of $109.18. Onto Innovation Inc. has a one year low of $85.88 and a one year high of $228.42.

Onto Innovation (NYSE:ONTO - Get Free Report) last issued its quarterly 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 company had revenue of $253.60 million during the quarter, compared to analysts' expectations 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 was up 4.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.32 EPS. Onto Innovation has set its Q3 2025 guidance at 0.750-0.950 EPS. On average, equities analysts predict that Onto Innovation Inc. will post 6.26 EPS for the current fiscal year.

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.

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