Onto Innovation Inc. $ONTO Stock Position Raised by Artemis Investment Management LLP

Key Points

• Artemis Investment Management increased its Onto Innovation stake by 32.7% in the third quarter to 246,262 shares valued at approximately $75.8 million. Institutional investors collectively own 98.35% of the company.
• Analysts maintain a bullish outlook, with Onto Innovation receiving a consensus “Buy” rating and an average price target of $380. Goldman Sachs and Evercore set targets of $400 and $390, respectively.
• ONTO shares fell 4.0% to $292.18, despite the company exceeding quarterly earnings and revenue estimates. Quarterly revenue rose 35.3% year over year to $343.13 million, while adjusted EPS reached $1.93 versus the $1.69 consensus estimate.

Artemis Investment Management LLP raised its holdings in Onto Innovation Inc. (NYSE:ONTO - Free Report) by 32.7% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 246,262 shares of the semiconductor company's stock after purchasing an additional 60,648 shares during the period. Artemis Investment Management LLP owned about 0.50% of Onto Innovation worth $75,804,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Andar Capital Management HK Ltd acquired a new stake in shares of Onto Innovation during the 2nd quarter valued at approximately $69,000,000. BlackRock Inc. bought a new stake in Onto Innovation during the second quarter valued at $2,083,436,000. Franklin Resources Inc. raised its holdings in shares of Onto Innovation by 21.4% during 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 period. Paradigm Capital Management Inc. NY acquired a new stake in shares of Onto Innovation during the second quarter worth $416,839,000. Finally, Dimensional Fund Advisors LP lifted its position in shares of Onto Innovation by 4.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 677,502 shares of the semiconductor company's stock worth $138,898,000 after buying an additional 28,137 shares during the last quarter. Institutional investors own 98.35% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently commented on ONTO shares. Zacks Research raised Onto Innovation from a "hold" rating to a "strong-buy" rating in a report on Tuesday, July 14th. Freedom Capital raised Onto Innovation to a "strong-buy" rating in a research report on Wednesday, June 17th. The Goldman Sachs Group initiated coverage on shares of Onto Innovation in a report on Monday, August 17th. They set a "buy" rating and a $400.00 price target for the company. Evercore restated an "outperform" rating and set a $390.00 price target on shares of Onto Innovation in a research report on Friday, August 7th. Finally, Weiss Ratings upgraded Onto Innovation from a "hold (c-)" rating to a "hold (c)" rating in a research report on Friday, August 21st. Two investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat.com, Onto Innovation currently has a consensus rating of "Buy" and a consensus target price of $380.00.

Insider Buying and Selling at Onto Innovation

In related news, Director Susan D. Lynch sold 1,000 shares of the company's stock in a transaction on Friday, August 21st. The shares were sold at an average price of $302.30, for a total transaction of $302,300.00. Following the completion of the transaction, the director directly owned 2,684 shares in the company, valued at $811,373.20. This represents a 27.14% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director David Miller sold 2,000 shares of the stock in a transaction dated Tuesday, September 29th. The shares were sold at an average price of $300.00, for a total transaction of $600,000.00. Following the completion of the sale, the director owned 10,692 shares of the company's stock, valued at approximately $3,207,600. The trade was a 15.76% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.51% of the company's stock.

Onto Innovation Stock Down 4.0%

NYSE:ONTO traded down $12.22 during trading hours on Thursday, hitting $292.18. 290,806 shares of the stock traded hands, compared to its average volume of 1,044,102. The firm has a 50 day moving average price of $287.10 and a 200 day moving average price of $280.96. The firm has a market cap of $14.34 billion, a price-to-earnings ratio of 110.02, a PEG ratio of 1.03 and a beta of 1.58. 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 Inc. has a fifty-two week low of $118.97 and a fifty-two week high of $386.46.

Onto Innovation (NYSE:ONTO - Get Free Report) last issued its earnings results on Thursday, August 6th. The semiconductor company reported $1.93 earnings per share (EPS) for the quarter, beating 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 company had revenue of $343.13 million during the quarter, compared to analyst estimates of $325.29 million. During the same quarter last year, the business posted $1.25 EPS. The company's revenue for the quarter was up 35.3% on a year-over-year basis. Onto Innovation has set its Q3 2026 guidance at 2.180-2.380 EPS. Equities research analysts anticipate that Onto Innovation Inc. will post 8.04 earnings per share for the current year.

Onto Innovation Profile

Onto Innovation Inc NYSE: ONTO develops process control, inspection, metrology and lithography solutions for the semiconductor and advanced packaging industries. Its technologies help chip manufacturers monitor and control production processes, identify defects and improve yields during the fabrication of integrated circuits and other electronic components.

The company's product portfolio includes optical and materials metrology systems, wafer and macro-defect inspection equipment, lithography systems, software and data-analysis tools, and solutions for semiconductor packaging and related applications.

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