Raymond James Financial Inc. Raises Stock Position in Onto Innovation Inc. $ONTO

Key Points

• Raymond James Financial Inc. increased its stake in Onto Innovation Inc. by 10.3% during the first quarter, owning 290,441 shares valued at approximately $35.2 million.
• Onto Innovation's recent earnings report revealed $1.25 EPS, missing analyst estimates by 2 cents, despite a year-over-year revenue growth of 4.7%.
• Analysts have a consensus rating of "Moderate Buy" for Onto Innovation, with an average price target of $137.86.

Raymond James Financial Inc. lifted its stake in shares of Onto Innovation Inc. (NYSE:ONTO - Free Report) by 10.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 290,441 shares of the semiconductor company's stock after buying an additional 27,094 shares during the quarter. Raymond James Financial Inc. owned about 0.59% of Onto Innovation worth $35,242,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of ONTO. Massachusetts Financial Services Co. MA raised its position 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 valued at $156,700,000 after purchasing an additional 421,165 shares during the last quarter. Vaughan Nelson Investment Management L.P. purchased a new stake in Onto Innovation in the 1st quarter valued at $31,175,000. D. E. Shaw & Co. Inc. raised its position in Onto Innovation by 8,504.1% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 222,330 shares of the semiconductor company's stock valued at $37,056,000 after purchasing an additional 219,746 shares during the last quarter. Nuveen LLC purchased a new stake in Onto Innovation in the 1st quarter valued at $25,853,000. Finally, Lazard Asset Management LLC raised its position in Onto Innovation by 80.9% in the 4th quarter. Lazard Asset Management LLC now owns 412,720 shares of the semiconductor company's stock valued at $68,786,000 after purchasing an additional 184,612 shares during the last quarter. Hedge funds and other institutional investors own 98.35% of the company's stock.

Onto Innovation Stock Performance

ONTO stock opened at $108.5460 on Friday. Onto Innovation Inc. has a one year low of $85.88 and a one year high of $228.42. The stock has a market capitalization of $5.32 billion, a PE ratio of 26.87, a price-to-earnings-growth ratio of 0.73 and a beta of 1.44. The company has a fifty day moving average of $100.49 and a 200-day moving average of $116.60.

Onto Innovation (NYSE:ONTO - Get Free Report) last posted its quarterly 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). Onto Innovation had a return on equity of 14.38% and a net margin of 19.29%.The company had revenue of $253.60 million for the quarter, compared to analyst estimates of $250.56 million. During the same period last year, the company earned $1.32 earnings per share. The business's revenue for the quarter 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. Equities analysts forecast that Onto Innovation Inc. will post 6.26 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms recently commented on ONTO. 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. Wall Street Zen upgraded shares of Onto Innovation from a "sell" rating to a "hold" rating in a research report on Saturday, May 17th. Jefferies Financial Group set a $110.00 price objective on shares of Onto Innovation and gave the stock a "hold" rating in a research report on Tuesday, May 20th. Needham & Company LLC reduced their target price on shares of Onto Innovation from $230.00 to $150.00 and set a "buy" rating for the company in a research note on Friday, May 9th. Finally, B. Riley reduced their target price on shares of Onto Innovation from $160.00 to $145.00 and set a "buy" rating for the company in a research note on Friday, August 8th. Five investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $137.86.

Onto Innovation Profile

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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