Situational Awareness LP Acquires Shares of 586,717 Onto Innovation Inc. $ONTO

Key Points

• Situational Awareness LP has acquired a significant stake in Onto Innovation Inc., purchasing 586,717 shares valued at approximately $71.2 million, making it the fund's third largest position.
• Onto Innovation reported quarterly earnings of $1.25 per share, missing analysts' expectations, while its revenue increased by 4.7% year-over-year to $253.60 million.
• Several analysts have revised their price targets for Onto Innovation, with consensus ratings indicating a "Moderate Buy" and an average price target of $137.86.

Situational Awareness LP purchased a new stake in shares of 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 586,717 shares of the semiconductor company's stock, valued at approximately $71,192,000. Onto Innovation comprises 7.1% of Situational Awareness LP's portfolio, making the stock its 3rd largest position. Situational Awareness LP owned approximately 1.20% of Onto Innovation as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. Jennison Associates LLC grew its holdings in shares of Onto Innovation by 2.9% in the first quarter. Jennison Associates LLC now owns 3,142 shares of the semiconductor company's stock valued at $381,000 after purchasing an additional 90 shares in the last quarter. Crossmark Global Holdings Inc. grew its holdings in Onto Innovation by 2.6% during the 1st quarter. Crossmark Global Holdings Inc. now owns 3,860 shares of the semiconductor company's stock worth $468,000 after acquiring an additional 98 shares in the last quarter. Peterson Wealth Services grew its holdings in Onto Innovation by 2.2% during the 1st quarter. Peterson Wealth Services now owns 4,585 shares of the semiconductor company's stock worth $556,000 after acquiring an additional 98 shares in the last quarter. State of Michigan Retirement System grew its holdings in Onto Innovation by 0.9% during the 1st quarter. State of Michigan Retirement System now owns 11,800 shares of the semiconductor company's stock worth $1,432,000 after acquiring an additional 100 shares in the last quarter. Finally, Berbice Capital Management LLC grew its holdings in Onto Innovation by 33.3% during the 1st quarter. Berbice Capital Management LLC now owns 400 shares of the semiconductor company's stock worth $49,000 after acquiring an additional 100 shares in the last quarter. 98.35% of the stock is currently owned by institutional investors and hedge funds.

Onto Innovation Trading Down 3.2%

ONTO stock traded down $3.47 on Friday, hitting $105.83. The company's stock had a trading volume of 1,081,161 shares, compared to its average volume of 1,413,422. The firm has a 50 day moving average of $101.59 and a two-hundred day moving average of $113.50. Onto Innovation Inc. has a 1 year low of $85.88 and a 1 year high of $228.42. The stock has a market cap of $5.19 billion, a price-to-earnings ratio of 26.20, a price-to-earnings-growth ratio of 0.71 and a beta of 1.58.

Onto Innovation (NYSE:ONTO - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The semiconductor company reported $1.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.27 by ($0.02). The firm had revenue of $253.60 million during the quarter, compared to analyst estimates of $250.56 million. Onto Innovation had a net margin of 19.29% and a return on equity of 14.38%. The business's quarterly revenue was up 4.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.32 earnings per share. Onto Innovation has set its Q3 2025 guidance at 0.750-0.950 EPS. As a group, equities analysts forecast that Onto Innovation Inc. will post 6.26 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Jefferies Financial Group set a $110.00 price target on shares of Onto Innovation and gave the stock a "hold" rating in a report on Tuesday, May 20th. B. Riley lowered their price target on shares of Onto Innovation from $160.00 to $145.00 and set a "buy" rating for the company in a report on Friday, August 8th. Benchmark lowered their price target 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 report on Tuesday, June 24th. Finally, Needham & Company LLC lowered 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. Five investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the stock 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.