Trexquant Investment LP Buys New Position in Onto Innovation Inc. $ONTO

Key Points

• Trexquant Investment LP acquired a new stake in Onto Innovation Inc., purchasing 76,829 shares valued at approximately $9.3 million, representing about 0.16% ownership.
• Institutional investors own approximately 98.35% of Onto Innovation's stock, with notable increases from firms like Stifel Financial and Comerica Bank in the last quarter.
• A number of analysts have recently downgraded their price targets for Onto Innovation, with the average target now at $137.86 and a consensus rating of "Moderate Buy."

Trexquant Investment LP bought a new position in shares of Onto Innovation Inc. (NYSE:ONTO - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 76,829 shares of the semiconductor company's stock, valued at approximately $9,322,000. Trexquant Investment LP owned about 0.16% of Onto Innovation at the end of the most recent quarter.

A number of other large investors have also modified their holdings of ONTO. Massachusetts Financial Services Co. MA lifted its position in Onto Innovation by 48.4% in the first quarter. Massachusetts Financial Services Co. MA now owns 1,291,415 shares of the semiconductor company's stock valued at $156,700,000 after buying an additional 421,165 shares during the last quarter. Geneva Capital Management LLC lifted its stake in shares of Onto Innovation by 0.5% during the first quarter. Geneva Capital Management LLC now owns 1,015,323 shares of the semiconductor company's stock valued at $123,199,000 after buying an additional 4,632 shares during the period. Wellington Management Group LLP increased its holdings in shares of Onto Innovation by 12.6% during the 1st quarter. Wellington Management Group LLP now owns 489,413 shares of the semiconductor company's stock worth $59,385,000 after buying an additional 54,607 shares during the last quarter. Royal Bank of Canada boosted its position in Onto Innovation by 32.0% during the 4th quarter. Royal Bank of Canada now owns 485,408 shares of the semiconductor company's stock worth $80,903,000 after purchasing an additional 117,798 shares during the period. Finally, Northern Trust Corp boosted its stake in Onto Innovation by 21.7% during the 4th quarter. Northern Trust Corp now owns 479,478 shares of the semiconductor company's stock valued at $79,915,000 after acquiring an additional 85,492 shares during the last quarter. Hedge funds and other institutional investors own 98.35% of the company's stock.

Wall Street Analysts Forecast Growth

ONTO has been the topic of several analyst reports. Wall Street Zen upgraded shares of Onto Innovation from a "sell" rating to a "hold" rating in a research note on Saturday, May 17th. Benchmark decreased their target price on shares of Onto Innovation from $190.00 to $160.00 and set a "buy" rating for the company in a research note on Friday, August 8th. Jefferies Financial Group set a $110.00 price target on Onto Innovation and gave the stock a "hold" rating in a research note on Tuesday, May 20th. Needham & Company LLC lowered their price objective 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. Finally, Cantor Fitzgerald cut their target price on Onto Innovation from $110.00 to $90.00 and set a "neutral" rating for the company in a research note on Tuesday, June 24th. Five investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat.com, Onto Innovation has a consensus rating of "Moderate Buy" and a consensus price target of $137.86.

Onto Innovation Stock Up 0.7%

Shares of NYSE:ONTO traded up $0.76 during midday trading on Thursday, reaching $103.42. The company had a trading volume of 256,982 shares, compared to its average volume of 1,233,866. 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 $5.07 billion, a PE ratio of 25.64, a P/E/G ratio of 0.71 and a beta of 1.58. The business's 50 day moving average price is $102.08 and its 200 day moving average price is $112.87.

Onto Innovation (NYSE:ONTO - Get Free Report) last issued its earnings results on Thursday, August 7th. The semiconductor company reported $1.25 EPS for the quarter, missing the consensus estimate of $1.27 by ($0.02). Onto Innovation had a return on equity of 14.38% and a net margin of 19.29%.The business had revenue of $253.60 million for the quarter, compared to the consensus estimate of $250.56 million. During the same quarter in the prior year, the firm posted $1.32 earnings per share. The business'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. On average, research analysts expect that Onto Innovation Inc. will post 6.26 earnings per share for the current fiscal year.

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.