US Bancorp DE Decreases Stake in Onto Innovation Inc. $ONTO

Key Points

• US Bancorp DE reduced its stake in Onto Innovation Inc. by 36.7% during the second quarter, owning 6,044 shares worth approximately $610,000 after selling 3,503 shares.
• Several large investors, including Massachusetts Financial Services Co. and Goldman Sachs Group Inc., significantly increased their holdings in Onto Innovation in the first quarter, reflecting strong institutional interest in the company.
• Analysts have mixed views on the stock, with B. Riley raising its price target to $170 and Goldman Sachs to $180, while Benchmark lowered its target to $160, indicating varied expectations on its future performance.

US Bancorp DE lowered its position in Onto Innovation Inc. (NYSE:ONTO - Free Report) by 36.7% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 6,044 shares of the semiconductor company's stock after selling 3,503 shares during the quarter. US Bancorp DE's holdings in Onto Innovation were worth $610,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in ONTO. Situational Awareness LP purchased a new stake in Onto Innovation in the 1st quarter worth about $71,192,000. Massachusetts Financial Services Co. MA increased its holdings in Onto Innovation by 48.4% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 1,291,415 shares of the semiconductor company's stock worth $156,700,000 after acquiring an additional 421,165 shares during the last quarter. Amundi increased its holdings in Onto Innovation by 199.2% in the 1st quarter. Amundi now owns 347,900 shares of the semiconductor company's stock worth $42,214,000 after acquiring an additional 231,629 shares during the last quarter. Nuveen LLC purchased a new stake in Onto Innovation in the 1st quarter worth about $25,853,000. Finally, Goldman Sachs Group Inc. increased its holdings in Onto Innovation by 76.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 482,256 shares of the semiconductor company's stock worth $58,517,000 after acquiring an additional 208,907 shares during the last quarter. Hedge funds and other institutional investors own 98.35% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on ONTO shares. B. Riley lifted their price objective on Onto Innovation from $145.00 to $170.00 and gave the stock a "buy" rating in a report on Friday, October 10th. Benchmark cut 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. Weiss Ratings restated a "hold (c)" rating on shares of Onto Innovation in a research note on Wednesday, October 8th. Oppenheimer raised their target price on Onto Innovation from $130.00 to $180.00 and gave the stock an "outperform" rating in a research note on Tuesday, October 14th. Finally, Stifel Nicolaus raised their target price on Onto Innovation from $110.00 to $120.00 and gave the stock a "hold" rating in a research note on Monday, October 13th. Five investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Onto Innovation currently has an average rating of "Moderate Buy" and an average target price of $148.57.

Onto Innovation Trading Down 0.9%

Shares of ONTO opened at $134.36 on Monday. The company has a market cap of $6.58 billion, a PE ratio of 33.26, a price-to-earnings-growth ratio of 0.91 and a beta of 1.61. The stock has a 50-day moving average price of $118.94 and a 200-day moving average price of $109.22. Onto Innovation Inc. has a 12-month low of $85.88 and a 12-month high of $228.42.

Onto Innovation (NYSE:ONTO - Get Free Report) last issued its quarterly 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 business had revenue of $253.60 million for 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%. The business's revenue was up 4.7% compared to the same quarter last year. During the same quarter last year, the business posted $1.32 EPS. Onto Innovation has set its Q3 2025 guidance at 0.750-0.950 EPS. As a group, analysts predict that Onto Innovation Inc. will post 6.26 earnings per share for the current 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.

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