Onto Innovation Inc. $ONTO Shares Sold by Russell Investments Group Ltd.

Russell Investments Group Ltd. trimmed its position in Onto Innovation Inc. (NYSE:ONTO - Free Report) by 82.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,348 shares of the semiconductor company's stock after selling 11,274 shares during the quarter. Russell Investments Group Ltd.'s holdings in Onto Innovation were worth $285,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. HighTower Advisors LLC raised its stake in Onto Innovation by 33.7% during the 1st quarter. HighTower Advisors LLC now owns 14,153 shares of the semiconductor company's stock worth $1,717,000 after acquiring an additional 3,566 shares in the last quarter. Nuveen LLC acquired a new stake in Onto Innovation during the 1st quarter worth $25,853,000. Cynosure Group LLC raised its stake in Onto Innovation by 39.3% during the 1st quarter. Cynosure Group LLC now owns 2,492 shares of the semiconductor company's stock worth $302,000 after acquiring an additional 703 shares in the last quarter. Zions Bancorporation National Association UT acquired a new stake in Onto Innovation during the 1st quarter worth $2,638,000. Finally, CenterBook Partners LP raised its stake in Onto Innovation by 83.5% during the 1st quarter. CenterBook Partners LP now owns 7,016 shares of the semiconductor company's stock worth $851,000 after acquiring an additional 3,192 shares in the last quarter. 98.35% of the stock is currently owned by institutional investors and hedge funds.

Onto Innovation Trading Down 0.6%

Shares of Onto Innovation stock traded down $0.57 on Thursday, reaching $102.09. 1,371,776 shares of the stock were exchanged, compared to its average volume of 1,240,483. Onto Innovation Inc. has a 1-year low of $85.88 and a 1-year high of $228.42. The business has a fifty day moving average price of $102.08 and a two-hundred day moving average price of $112.87. The firm has a market capitalization of $5.00 billion, a PE ratio of 25.27, a PEG ratio of 0.71 and a beta of 1.58.

Onto Innovation (NYSE:ONTO - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The semiconductor company reported $1.25 earnings per share (EPS) 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 analyst estimates of $250.56 million. During the same quarter last year, the firm earned $1.32 earnings per share. The company's revenue 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. Research analysts expect that Onto Innovation Inc. will post 6.26 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages recently commented on ONTO. Needham & Company LLC cut their price target on shares of Onto Innovation from $230.00 to $150.00 and set a "buy" rating on the stock in a research note on Friday, May 9th. Benchmark cut their price target on shares of Onto Innovation from $190.00 to $160.00 and set a "buy" rating on the stock 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 note on Friday, May 9th. B. Riley dropped their price objective on shares of Onto Innovation from $160.00 to $145.00 and set a "buy" rating on the stock in a research note on Friday, August 8th. Finally, Wall Street Zen upgraded shares of Onto Innovation from a "sell" rating to a "hold" rating in a research note on Saturday, May 17th. Five analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $137.86.

Onto Innovation Company 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.