Persistent Asset Partners Ltd Takes $2.25 Million Position in Onto Innovation Inc. $ONTO

Key Points

• Persistent Asset Partners Ltd. initiated a $2.25 million position in Onto Innovation during the second quarter by purchasing 5,947 shares, representing 0.7% of its portfolio.
• Institutional ownership is substantial, with investors holding 98.35% of Onto Innovation’s shares; several institutions, including Bank of New York Mellon and Andar Capital Management, also established new positions.
• Onto Innovation exceeded quarterly earnings and revenue expectations, reporting $1.93 in EPS and $343.13 million in revenue, while analysts maintain a consensus “Buy” rating with an average price target of $378.11.

Persistent Asset Partners Ltd purchased a new position in Onto Innovation Inc. (NYSE:ONTO - Free Report) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 5,947 shares of the semiconductor company's stock, valued at approximately $2,251,000. Onto Innovation makes up 0.7% of Persistent Asset Partners Ltd's portfolio, making the stock its 27th biggest holding.

Other institutional investors also recently modified their holdings of the company. OneDigital Investment Advisors LLC purchased a new position in Onto Innovation during the 2nd quarter valued at about $208,000. Andar Capital Management HK Ltd purchased a new stake in Onto Innovation in the second quarter worth about $26,113,000. Global Retirement Partners LLC purchased a new stake in Onto Innovation in the second quarter worth about $2,535,000. Bank of New York Mellon Corp bought a new position in shares of Onto Innovation during the second quarter valued at approximately $162,052,000. Finally, Focus Partners Advisor Solutions LLC bought a new position in shares of Onto Innovation during the second quarter valued at approximately $311,000. 98.35% of the stock is currently owned by institutional investors.

Onto Innovation Price Performance

Shares of Onto Innovation stock opened at $331.94 on Monday. The stock has a market cap of $16.29 billion, a P/E ratio of 124.79, a P/E/G ratio of 1.11 and a beta of 1.59. The company has a debt-to-equity ratio of 0.77, a quick ratio of 8.33 and a current ratio of 9.73. The stock's fifty day moving average is $302.57 and its 200 day moving average is $260.21. Onto Innovation Inc. has a one year low of $101.00 and a one year high of $386.46.

Onto Innovation (NYSE:ONTO - Get Free Report) last issued its quarterly earnings results 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 return on equity of 13.44% and a net margin of 11.84%.The business had revenue of $343.13 million during the quarter, compared to analysts' expectations of $325.29 million. During the same quarter in the prior year, the business posted $1.25 earnings per share. The business's quarterly 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. Sell-side analysts anticipate that Onto Innovation Inc. will post 7.88 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on ONTO. Deutsche Bank Aktiengesellschaft initiated coverage on Onto Innovation in a research report on Friday, June 5th. They issued a "buy" rating and a $350.00 price target on the stock. Oppenheimer lifted their price objective on Onto Innovation from $370.00 to $450.00 and gave the company an "outperform" rating in a research note on Monday, June 22nd. Cantor Fitzgerald boosted their target price on Onto Innovation from $350.00 to $410.00 and gave the stock an "overweight" rating in a report on Monday, June 29th. Weiss Ratings cut Onto Innovation from a "hold (c)" rating to a "hold (c-)" rating in a research note on Friday, August 7th. Finally, Freedom Capital upgraded Onto Innovation to a "strong-buy" rating in a report on Wednesday, June 17th. Two analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of "Buy" and an average target price of $378.11.

Onto Innovation Profile

Onto Innovation NYSE: ONTO is a global supplier of advanced process control and inspection systems for semiconductor and electronics manufacturers. The company's solutions span metrology, inspection, defect review and lithography mask repair, helping customers optimize yield, reduce costs and improve device performance. By integrating high-resolution optical and e-beam tools with sophisticated software analytics, Onto Innovation enables wafer, mask and advanced packaging producers to maintain tight process control across leading-edge nodes and specialty applications.

Key products include high-throughput wafer metrology systems, optical and e-beam defect inspection platforms, mask inspection and repair tools, and data-driven software for yield management and process optimization.

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