VIRGINIA RETIREMENT SYSTEMS ET Al Purchases Shares of 16,850 Onto Innovation Inc. $ONTO

Key Points

• Virginia Retirement Systems purchased 16,850 shares of Onto Innovation worth approximately $6.4 million in the second quarter. Institutional investors collectively own 98.35% of the company.
• Onto Innovation reported better-than-expected quarterly results, with EPS of $1.93 versus the $1.69 consensus and revenue of $343.1 million, up 35.3% year over year. The company guided for third-quarter EPS of $2.18–$2.38.
• Wall Street maintains a favorable view, with an average “Buy” rating and a $378 price target, although Morgan Stanley recently lowered its target to $360. The stock opened at $281.54, while a director separately sold 1,000 shares under a pre-arranged trading plan.

VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in Onto Innovation Inc. (NYSE:ONTO - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 16,850 shares of the semiconductor company's stock, valued at approximately $6,377,000.

Other large investors also recently made changes to their positions in the company. NewEdge Advisors LLC boosted its stake in Onto Innovation by 312.5% in the 1st quarter. NewEdge Advisors LLC now owns 4,121 shares of the semiconductor company's stock worth $500,000 after purchasing an additional 3,122 shares during the period. Goldman Sachs Group Inc. raised its stake in shares of Onto Innovation by 76.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 482,256 shares of the semiconductor company's stock valued at $58,517,000 after purchasing an additional 208,907 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Onto Innovation by 8.8% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 163,259 shares of the semiconductor company's stock valued at $19,810,000 after purchasing an additional 13,175 shares in the last quarter. Cetera Investment Advisers lifted its holdings in shares of Onto Innovation by 6.3% in the second quarter. Cetera Investment Advisers now owns 4,017 shares of the semiconductor company's stock valued at $405,000 after purchasing an additional 238 shares in the last quarter. Finally, Russell Investments Group Ltd. boosted its position in shares of Onto Innovation by 182.4% during the second quarter. Russell Investments Group Ltd. now owns 6,631 shares of the semiconductor company's stock worth $666,000 after buying an additional 4,283 shares during the period. Institutional investors own 98.35% of the company's stock.

Onto Innovation Stock Up 5.0%

Onto Innovation stock opened at $281.54 on Wednesday. The company has a debt-to-equity ratio of 0.77, a current ratio of 9.73 and a quick ratio of 8.33. The company's 50-day moving average is $290.08 and its 200-day moving average is $269.14. The firm has a market capitalization of $13.81 billion, a PE ratio of 105.84, a P/E/G ratio of 0.88 and a beta of 1.59. Onto Innovation Inc. has a fifty-two week low of $102.91 and a fifty-two week high of $386.46.

Onto Innovation (NYSE:ONTO - Get Free Report) last issued its earnings results on Thursday, August 6th. The semiconductor company reported $1.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.69 by $0.24. The business had revenue of $343.13 million during the quarter, compared to the consensus estimate of $325.29 million. Onto Innovation had a net margin of 11.84% and a return on equity of 13.44%. Onto Innovation's revenue was up 35.3% on a year-over-year basis. During the same period last year, the business posted $1.25 EPS. Onto Innovation has set its Q3 2026 guidance at 2.180-2.380 EPS. Sell-side analysts anticipate that Onto Innovation Inc. will post 8.04 earnings per share for the current year.

Insider Activity at Onto Innovation

In related news, Director Susan Lynch sold 1,000 shares of the business's stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $302.30, for a total transaction of $302,300.00. Following the transaction, the director directly owned 2,684 shares of the company's stock, valued at approximately $811,373.20. The trade was a 27.14% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.51% of the company's stock.

Wall Street Analyst Weigh In

ONTO has been the topic of several research reports. Morgan Stanley cut their target price on Onto Innovation from $383.00 to $360.00 and set an "overweight" rating on the stock in a research note on Tuesday. Freedom Capital upgraded shares of Onto Innovation to a "strong-buy" rating in a report on Wednesday, June 17th. Jefferies Financial Group increased their price objective on shares of Onto Innovation from $350.00 to $400.00 and gave the stock a "buy" rating in a research note on Friday, August 7th. Weiss Ratings raised Onto Innovation from a "hold (c-)" rating to a "hold (c)" rating in a research report on Friday, August 21st. Finally, The Goldman Sachs Group assumed coverage on Onto Innovation in a research note on Monday, August 17th. They issued a "buy" rating and a $400.00 price target for the company. Two analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the company has an average rating of "Buy" and an average price target of $378.00.

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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