United Services Automobile Association Makes New $388,000 Investment in Onto Innovation Inc. $ONTO

Key Points

• United Services Automobile Association has acquired a new stake in Onto Innovation, purchasing 3,182 shares valued at approximately $388,000.
• Onto Innovation reported a quarterly earnings per share (EPS) of $1.25, slightly missing the consensus estimate of $1.27, while year-over-year revenue increased by 4.7% to $253.60 million.
• Hedge funds and institutional investors own a significant majority of Onto Innovation, with institutional holdings at 98.35% of the company's stock.

United Services Automobile Association bought a new position in Onto Innovation Inc. (NYSE:ONTO - Free Report) in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 3,182 shares of the semiconductor company's stock, valued at approximately $388,000.

A number of other large investors have also bought and sold shares of ONTO. Jennison Associates LLC grew its stake in Onto Innovation by 2.9% in the first quarter. Jennison Associates LLC now owns 3,142 shares of the semiconductor company's stock worth $381,000 after purchasing an additional 90 shares during the period. Crossmark Global Holdings Inc. lifted its holdings in Onto Innovation by 2.6% in the first 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 period. Peterson Wealth Services raised its stake in shares of Onto Innovation by 2.2% in the first quarter. Peterson Wealth Services now owns 4,585 shares of the semiconductor company's stock worth $556,000 after buying an additional 98 shares during the period. State of Michigan Retirement System raised its stake in shares of 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 worth $1,432,000 after buying an additional 100 shares during the period. Finally, Berbice Capital Management LLC grew its position in shares of Onto Innovation by 33.3% during the first quarter. Berbice Capital Management LLC now owns 400 shares of the semiconductor company's stock worth $49,000 after purchasing an additional 100 shares in the last quarter. 98.35% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. B. Riley dropped their price objective on Onto Innovation from $160.00 to $145.00 and set a "buy" rating for the company in a report on Friday, August 8th. Jefferies Financial Group set a $110.00 price objective on Onto Innovation and gave the company a "hold" rating in a report on Tuesday, May 20th. Benchmark lowered their target price on Onto Innovation from $190.00 to $160.00 and set a "buy" rating on the stock in a research note on Friday, August 8th. Finally, Cantor Fitzgerald decreased their target price on Onto Innovation from $110.00 to $90.00 and set a "neutral" rating on the stock in a research report on Tuesday, June 24th. Five analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $137.86.

Onto Innovation Price Performance

NYSE:ONTO traded down $5.28 during mid-day trading on Wednesday, reaching $115.30. The stock had a trading volume of 271,934 shares, compared to its average volume of 1,241,656. The company has a market capitalization of $5.65 billion, a price-to-earnings ratio of 28.56, a price-to-earnings-growth ratio of 0.79 and a beta of 1.58. The stock's 50 day simple moving average is $103.42 and its two-hundred day simple moving average is $109.31. Onto Innovation Inc. has a 1-year low of $85.88 and a 1-year high of $228.42.

Onto Innovation (NYSE:ONTO - Get Free Report) last issued 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). 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 analyst estimates of $250.56 million. During the same quarter in the prior year, the firm posted $1.32 earnings per share. The business's quarterly revenue was up 4.7% on a year-over-year basis. Onto Innovation has set its Q3 2025 guidance at 0.750-0.950 EPS. Sell-side analysts anticipate 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.