Voya Investment Management LLC Sells 104,339 Shares of Onto Innovation Inc. $ONTO

Key Points

• Voya Investment Management LLC reduced its holdings in Onto Innovation Inc. by 50.9%, now owning 100,686 shares valued at approximately $12.22 million.
• Analysts have mixed ratings for Onto Innovation, with a consensus of "Moderate Buy" and an average price target of $137.86.
• Onto Innovation reported earnings of $1.25 per share for the last quarter, slightly missing estimates, but achieved revenue of $253.60 million, surpassing projections.

Voya Investment Management LLC reduced its position in Onto Innovation Inc. (NYSE:ONTO - Free Report) by 50.9% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 100,686 shares of the semiconductor company's stock after selling 104,339 shares during the quarter. Voya Investment Management LLC owned approximately 0.21% of Onto Innovation worth $12,217,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also bought and sold shares of the company. Banque Cantonale Vaudoise purchased a new stake in Onto Innovation in the first quarter worth $29,000. MassMutual Private Wealth & Trust FSB increased its position in Onto Innovation by 177.6% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 236 shares of the semiconductor company's stock worth $29,000 after buying an additional 151 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. grew its position in shares of Onto Innovation by 79.4% in the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 244 shares of the semiconductor company's stock valued at $30,000 after purchasing an additional 108 shares in the last quarter. Larson Financial Group LLC grew its position in shares of Onto Innovation by 3,700.0% in the first quarter. Larson Financial Group LLC now owns 266 shares of the semiconductor company's stock valued at $32,000 after purchasing an additional 259 shares in the last quarter. Finally, Berbice Capital Management LLC grew its position in shares of Onto Innovation by 33.3% in the first quarter. Berbice Capital Management LLC now owns 400 shares of the semiconductor company's stock valued at $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

Several brokerages have recently weighed in on ONTO. B. Riley reduced their price target on Onto Innovation from $160.00 to $145.00 and set a "buy" rating for the company in a research report on Friday, August 8th. Cantor Fitzgerald reduced their target price on Onto Innovation from $110.00 to $90.00 and set a "neutral" rating for the company in a research report on Tuesday, June 24th. Finally, Benchmark cut their price objective on Onto Innovation from $190.00 to $160.00 and set a "buy" rating for the company in a report on Friday, August 8th. Five investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $137.86.

Onto Innovation Stock Performance

Shares of NYSE ONTO traded down $0.83 during midday trading on Friday, hitting $122.51. 810,685 shares of the stock traded hands, compared to its average volume of 1,250,313. The firm has a 50-day moving average of $104.09 and a two-hundred day moving average of $109.27. The firm has a market capitalization of $6.00 billion, a P/E ratio of 30.32, a PEG ratio of 0.79 and a beta of 1.58. Onto Innovation Inc. has a one year low of $85.88 and a one year high of $228.42.

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