The Manufacturers Life Insurance Company Acquires 2,715 Shares of Onto Innovation Inc. $ONTO

Key Points

• The Manufacturers Life Insurance Company increased its stake in Onto Innovation Inc. by 1.1% in the first quarter, holding approximately $30.3 million worth of shares.
• Onto Innovation reported a quarterly EPS of $1.25, which missed analysts' expectations, but its revenue increased by 4.7% from the same quarter last year.
• Currently, Onto Innovation has a consensus rating of "Moderate Buy" from analysts, with an average target price of $137.86.

The Manufacturers Life Insurance Company boosted its position in shares of Onto Innovation Inc. (NYSE:ONTO - Free Report) by 1.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 249,698 shares of the semiconductor company's stock after acquiring an additional 2,715 shares during the period. The Manufacturers Life Insurance Company owned 0.51% of Onto Innovation worth $30,298,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Concurrent Investment Advisors LLC acquired a new position in shares of Onto Innovation during the 1st quarter worth about $217,000. GAMMA Investing LLC increased its position in Onto Innovation by 75.0% in the 1st quarter. GAMMA Investing LLC now owns 1,069 shares of the semiconductor company's stock worth $130,000 after buying an additional 458 shares during the period. Oppenheimer & Co. Inc. bought a new position in Onto Innovation in the 1st quarter worth approximately $420,000. Oppenheimer Asset Management Inc. lifted its holdings in shares of Onto Innovation by 16.3% during the first quarter. Oppenheimer Asset Management Inc. now owns 7,211 shares of the semiconductor company's stock worth $875,000 after buying an additional 1,013 shares during the last quarter. Finally, State of Alaska Department of Revenue boosted its position in shares of Onto Innovation by 2.7% in the first quarter. State of Alaska Department of Revenue now owns 5,785 shares of the semiconductor company's stock valued at $701,000 after acquiring an additional 150 shares during the period. 98.35% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ONTO has been the topic of a number of research reports. Cantor Fitzgerald dropped their target price on shares of Onto Innovation from $110.00 to $90.00 and set a "neutral" rating on the stock in a research report on Tuesday, June 24th. Jefferies Financial Group set a $110.00 price target on shares of Onto Innovation and gave the stock a "hold" rating in a research report on Tuesday, May 20th. 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 report on Friday, August 8th. Wall Street Zen raised shares of Onto Innovation from a "sell" rating to a "hold" rating in a research report on Saturday, May 17th. Finally, Benchmark decreased their target price on Onto Innovation from $190.00 to $160.00 and set a "buy" rating on the stock in a research report on Friday, August 8th. Five analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $137.86.

Onto Innovation Stock Performance

NYSE ONTO traded up $1.96 during trading on Friday, reaching $103.91. 947,263 shares of the company traded hands, compared to its average volume of 1,050,931. Onto Innovation Inc. has a 1-year low of $85.88 and a 1-year high of $228.42. The company has a market cap of $5.09 billion, a price-to-earnings ratio of 25.72, a P/E/G ratio of 0.71 and a beta of 1.58. The stock's 50 day moving average price is $102.23 and its two-hundred day moving average price is $111.08.

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

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.