Royal Bank of Canada Trims Stock Position in Onto Innovation Inc. $ONTO

Key Points

• Royal Bank of Canada reduced its stake in Onto Innovation by 12.3% in Q1, holding 425,815 shares worth approximately $51.67 million as of its latest filing.
• Analysts have adjusted their target prices for Onto Innovation, with a range of $110.00 to $145.00, while maintaining a general rating of "Moderate Buy".
• Despite a slight earnings miss, Onto Innovation reported quarterly revenue of $253.6 million, reflecting a 4.7% increase from the previous year.

Royal Bank of Canada decreased its position in shares of Onto Innovation Inc. (NYSE:ONTO - Free Report) by 12.3% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 425,815 shares of the semiconductor company's stock after selling 59,593 shares during the period. Royal Bank of Canada owned approximately 0.87% of Onto Innovation worth $51,669,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. MassMutual Private Wealth & Trust FSB boosted its holdings in shares of Onto Innovation by 177.6% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 236 shares of the semiconductor company's stock worth $29,000 after purchasing an additional 151 shares in the last quarter. Banque Cantonale Vaudoise bought a new stake in Onto Innovation in the 1st quarter worth approximately $29,000. Migdal Insurance & Financial Holdings Ltd. lifted its position in Onto Innovation by 79.4% in the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 244 shares of the semiconductor company's stock worth $30,000 after buying an additional 108 shares during the last quarter. Larson Financial Group LLC boosted its stake in Onto Innovation by 3,700.0% in the first quarter. Larson Financial Group LLC now owns 266 shares of the semiconductor company's stock worth $32,000 after buying an additional 259 shares in the last quarter. Finally, Berbice Capital Management LLC grew its position in Onto Innovation by 33.3% during the first quarter. Berbice Capital Management LLC now owns 400 shares of the semiconductor company's stock valued at $49,000 after acquiring an additional 100 shares during the last quarter. Institutional investors own 98.35% of the company's stock.

Onto Innovation Price Performance

Onto Innovation stock traded up $2.02 during trading hours on Thursday, reaching $108.06. The stock had a trading volume of 1,264,362 shares, compared to its average volume of 917,480. The company has a fifty day simple moving average of $102.54 and a 200-day simple moving average of $110.27. Onto Innovation Inc. has a 52 week low of $85.88 and a 52 week high of $228.42. The stock has a market cap of $5.30 billion, a PE ratio of 26.75, a PEG ratio of 0.72 and a beta of 1.58.

Onto Innovation (NYSE:ONTO - Get Free Report) last posted 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). Onto Innovation had a return on equity of 14.38% and a net margin of 19.29%.The firm had revenue of $253.60 million for the quarter, compared to analysts' expectations of $250.56 million. During the same quarter in the prior year, the company posted $1.32 earnings per share. The business's revenue for the quarter was up 4.7% on a year-over-year basis. Onto Innovation has set its Q3 2025 guidance at 0.750-0.950 EPS. Research analysts predict that Onto Innovation Inc. will post 6.26 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on ONTO shares. Benchmark lowered their price objective on shares of Onto Innovation from $190.00 to $160.00 and set a "buy" rating for the company in a report on Friday, August 8th. Cantor Fitzgerald lowered 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 note on Tuesday, June 24th. Wall Street Zen raised Onto Innovation from a "sell" rating to a "hold" rating in a research note on Saturday, May 17th. B. Riley decreased their price objective on Onto Innovation from $160.00 to $145.00 and set a "buy" rating on the stock in a report on Friday, August 8th. Finally, Jefferies Financial Group set a $110.00 target price on Onto Innovation and gave the company a "hold" rating in a report on Tuesday, May 20th. Five analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, Onto Innovation currently has an average rating of "Moderate Buy" and an average target price 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.