The Manufacturers Life Insurance Company Buys Shares of 220,852 Onto Innovation Inc. $ONTO

Key Points

• The Manufacturers Life Insurance Company acquired 220,852 shares of Onto Innovation worth approximately $83.6 million, representing about 0.45% of the semiconductor equipment maker. Institutional investors collectively own 98.35% of the company.
• Onto Innovation exceeded quarterly expectations, reporting $1.93 in earnings per share versus the $1.69 consensus estimate and $343.1 million in revenue, up 35.3% year over year. The company issued third-quarter 2026 EPS guidance of $2.18 to $2.38.
• Analysts maintain a favorable outlook, with the stock carrying an overall “Buy” rating and an average price target of $380.30, while recent targets rose as high as $450.

The Manufacturers Life Insurance Company purchased a new stake in Onto Innovation Inc. (NYSE:ONTO - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 220,852 shares of the semiconductor company's stock, valued at approximately $83,581,000. The Manufacturers Life Insurance Company owned about 0.45% of Onto Innovation as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of ONTO. Fiduciary Financial Advisors bought a new position in Onto Innovation in the second quarter valued at about $25,000. CoreCap Advisors LLC bought a new position in shares of Onto Innovation in the second quarter worth about $38,000. Rakuten Securities Inc. bought a new position in shares of Onto Innovation in the second quarter worth about $40,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in shares of Onto Innovation in the 2nd quarter valued at approximately $42,000. Finally, Harbor Investment Advisory LLC acquired a new stake in shares of Onto Innovation in the 2nd quarter valued at approximately $47,000. Institutional investors and hedge funds own 98.35% of the company's stock.

Insiders Place Their Bets

In other Onto Innovation news, Director Susan D. Lynch sold 1,000 shares of the stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $302.30, for a total transaction of $302,300.00. Following the completion of the sale, the director owned 2,684 shares of the company's stock, valued at approximately $811,373.20. This represents a 27.14% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.51% of the company's stock.

Onto Innovation Stock Performance

NYSE ONTO opened at $292.38 on Wednesday. The company has a market capitalization of $14.35 billion, a price-to-earnings ratio of 109.92, a PEG ratio of 0.94 and a beta of 1.59. Onto Innovation Inc. has a twelve month low of $101.00 and a twelve month high of $386.46. The stock has a fifty day simple moving average of $303.38 and a 200 day simple moving average of $265.18. The company has a quick ratio of 8.33, a current ratio of 9.73 and a debt-to-equity ratio of 0.77.

Onto Innovation (NYSE:ONTO - Get Free Report) last announced its earnings results on Thursday, August 6th. The semiconductor company reported $1.93 EPS for the quarter, topping the consensus estimate of $1.69 by $0.24. The firm had revenue of $343.13 million for the quarter, compared to the consensus estimate of $325.29 million. Onto Innovation had a return on equity of 13.44% and a net margin of 11.84%.The business's quarterly revenue was up 35.3% compared to the same quarter last year. During the same period in the previous year, the business earned $1.25 EPS. Onto Innovation has set its Q3 2026 guidance at 2.180-2.380 EPS. Sell-side analysts expect that Onto Innovation Inc. will post 7.88 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on ONTO shares. Freedom Capital upgraded shares of Onto Innovation to a "strong-buy" rating in a research report on Wednesday, June 17th. Oppenheimer raised their target price on shares of Onto Innovation from $370.00 to $450.00 and gave the company an "outperform" rating in a research report on Monday, June 22nd. Weiss Ratings upgraded shares of Onto Innovation from a "hold (c-)" rating to a "hold (c)" rating in a report on Friday. Needham & Company LLC increased their price target on Onto Innovation from $330.00 to $360.00 and gave the company a "buy" rating in a research note on Friday, August 7th. Finally, Zacks Research raised Onto Innovation from a "hold" rating to a "strong-buy" rating in a report on Tuesday, July 14th. Two analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of "Buy" and an average price target of $380.30.

Onto Innovation Profile

Onto Innovation NYSE: ONTO is a global supplier of advanced process control and inspection systems for semiconductor and electronics manufacturers. The company's solutions span metrology, inspection, defect review and lithography mask repair, helping customers optimize yield, reduce costs and improve device performance. By integrating high-resolution optical and e-beam tools with sophisticated software analytics, Onto Innovation enables wafer, mask and advanced packaging producers to maintain tight process control across leading-edge nodes and specialty applications.

Key products include high-throughput wafer metrology systems, optical and e-beam defect inspection platforms, mask inspection and repair tools, and data-driven software for yield management and process optimization.

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