Panagora Asset Management Inc. Purchases Shares of 171,780 Onto Innovation Inc. $ONTO

Key Points

• Panagora Asset Management Inc. purchased 171,780 shares of Onto Innovation Inc., valued at approximately $20.84 million, marking a 0.35% ownership stake in the company.
• Analysts have issued mixed price target revisions for Onto Innovation, with B. Riley lowering their target from $160.00 to $145.00 and Needham & Company reducing it from $230.00 to $150.00, while maintaining a "buy" rating.
• Onto Innovation recently reported earnings of $1.25 EPS, missing estimates, while revenue showed a 4.7% year-over-year increase to $253.60 million.

Panagora Asset Management Inc. purchased a new position in Onto Innovation Inc. (NYSE:ONTO - Free Report) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 171,780 shares of the semiconductor company's stock, valued at approximately $20,844,000. Panagora Asset Management Inc. owned approximately 0.35% of Onto Innovation as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. Concurrent Investment Advisors LLC acquired a new stake in Onto Innovation in the first quarter worth approximately $217,000. GAMMA Investing LLC increased its position in Onto Innovation by 75.0% during the first quarter. GAMMA Investing LLC now owns 1,069 shares of the semiconductor company's stock worth $130,000 after buying an additional 458 shares during the last quarter. Oppenheimer & Co. Inc. acquired a new position in Onto Innovation during the first quarter worth $420,000. Oppenheimer Asset Management Inc. grew its position in shares of Onto Innovation by 16.3% in the first quarter. Oppenheimer Asset Management Inc. now owns 7,211 shares of the semiconductor company's stock valued at $875,000 after purchasing an additional 1,013 shares during the last quarter. Finally, State of Alaska Department of Revenue grew its position in shares of Onto Innovation by 2.7% in the first quarter. State of Alaska Department of Revenue now owns 5,785 shares of the semiconductor company's stock valued at $701,000 after purchasing an additional 150 shares during the last quarter. 98.35% of the stock is owned by institutional investors.

Onto Innovation Price Performance

Shares of NYSE ONTO traded down $1.28 during mid-day trading on Wednesday, reaching $102.62. 795,790 shares of the company's stock traded hands, compared to its average volume of 1,239,865. The stock has a market cap of $5.03 billion, a P/E ratio of 25.40, a PEG ratio of 0.71 and a beta of 1.58. The business has a 50-day simple moving average of $102.08 and a 200 day simple moving average of $112.87. Onto Innovation Inc. has a 1-year low of $85.88 and a 1-year high of $228.42.

Onto Innovation (NYSE:ONTO - Get Free Report) last released its earnings results on Thursday, August 7th. The semiconductor company reported $1.25 earnings per share for the quarter, missing analysts' consensus estimates 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 net margin of 19.29% and a return on equity of 14.38%. The firm's revenue was up 4.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.32 earnings per share. Onto Innovation has set its Q3 2025 guidance at 0.750-0.950 EPS. Equities research analysts anticipate that Onto Innovation Inc. will post 6.26 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on ONTO shares. Cantor Fitzgerald decreased their price objective on Onto Innovation from $110.00 to $90.00 and set a "neutral" rating on the stock in a report on Tuesday, June 24th. Needham & Company LLC decreased their price target on shares of Onto Innovation from $230.00 to $150.00 and set a "buy" rating for the company in a report on Friday, May 9th. Benchmark reduced 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 note on Friday, August 8th. Oppenheimer cut their price target on shares of Onto Innovation from $150.00 to $130.00 and set an "outperform" rating on the stock in a research report on Friday, May 9th. Finally, B. Riley cut their price objective 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. Five equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average 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.