T. Rowe Price Investment Management Inc. Sells 118,816 Shares of Onto Innovation Inc. $ONTO

Key Points

• T. Rowe Price Investment Management Inc. reduced its stake in Onto Innovation by 88.6% in the first quarter, leaving it with 15,345 shares valued at approximately $1.86 million.
• Other institutional investors also changed their positions in Onto Innovation, with Capital Fund Management S.A. increasing its stake by 22.2%, now holding 81,752 shares valued at about $9.92 million.
• Analysts have cut target prices for Onto Innovation, with Benchmark lowering its target from $190 to $160, and the average rating sitting at "Moderate Buy" with an average target price of $137.86.

T. Rowe Price Investment Management Inc. reduced its holdings in Onto Innovation Inc. (NYSE:ONTO - Free Report) by 88.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,345 shares of the semiconductor company's stock after selling 118,816 shares during the quarter. T. Rowe Price Investment Management Inc.'s holdings in Onto Innovation were worth $1,862,000 at the end of the most recent reporting period.

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

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Benchmark decreased their target price on Onto Innovation from $190.00 to $160.00 and set a "buy" rating for the company in a research note on Friday, August 8th. Needham & Company LLC cut their target price on Onto Innovation from $230.00 to $150.00 and set a "buy" rating on the stock in a research note on Friday, May 9th. Cantor Fitzgerald reduced their price target on Onto Innovation from $110.00 to $90.00 and set a "neutral" rating for the company in a research report on Tuesday, June 24th. 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 report 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 investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $137.86.

Onto Innovation Stock Performance

Onto Innovation stock traded down $3.47 during midday trading on Friday, reaching $105.83. 1,081,161 shares of the company's stock were exchanged, compared to its average volume of 1,429,511. The stock's 50-day simple moving average is $101.59 and its 200 day simple moving average is $113.92. The firm has a market cap of $5.19 billion, a price-to-earnings ratio of 26.20, a P/E/G ratio of 0.71 and a beta of 1.44. Onto Innovation Inc. has a 52 week low of $85.88 and a 52 week high of $228.42.

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

About Onto Innovation

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.