Wealth Enhancement Advisory Services LLC Purchases Shares of 2,480 Onto Innovation Inc. $ONTO

Key Points

• Wealth Enhancement Advisory Services LLC acquired 2,480 shares of Onto Innovation Inc. in the second quarter, valued at approximately $258,000.
• Several institutional investors, including Massachusetts Financial Services Co. and Goldman Sachs Group Inc., have significantly increased their stakes in Onto Innovation, indicating strong institutional interest.
• Onto Innovation's recent quarterly earnings report showed $1.25 EPS, missing estimates, while revenue increased by 4.7% year-over-year, highlighting mixed performance amid evolving market conditions.

Wealth Enhancement Advisory Services LLC purchased a new stake in Onto Innovation Inc. (NYSE:ONTO - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 2,480 shares of the semiconductor company's stock, valued at approximately $258,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Massachusetts Financial Services Co. MA grew 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 valued at $156,700,000 after buying an additional 421,165 shares during the period. Geneva Capital Management LLC grew its holdings in Onto Innovation by 0.5% in the 1st 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. Situational Awareness LP acquired a new stake in Onto Innovation during the first quarter worth about $71,192,000. Wellington Management Group LLP increased its stake in Onto Innovation by 12.6% during the first quarter. Wellington Management Group LLP now owns 489,413 shares of the semiconductor company's stock worth $59,385,000 after acquiring an additional 54,607 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its stake in Onto Innovation by 76.4% during the first 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 have commented on the company. B. Riley dropped their price target on Onto Innovation from $160.00 to $145.00 and set a "buy" rating for the company in a research note on Friday, August 8th. Benchmark dropped their price target 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. Jefferies Financial Group upgraded Onto Innovation from a "hold" rating to a "buy" rating and upped their price target for the stock from $100.00 to $170.00 in a research note on Tuesday, September 23rd. Finally, Cantor Fitzgerald dropped their price target 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. Six analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $146.43.

Onto Innovation Stock Performance

Shares of ONTO opened at $136.64 on Friday. The company has a market capitalization of $6.70 billion, a P/E ratio of 33.82, a P/E/G ratio of 0.94 and a beta of 1.61. Onto Innovation Inc. has a one year low of $85.88 and a one year high of $228.42. The stock has a 50-day moving average price of $114.67 and a 200 day moving average price of $109.21.

Onto Innovation (NYSE:ONTO - Get Free Report) last issued its quarterly 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). The business had revenue of $253.60 million during the quarter, compared to analysts' expectations of $250.56 million. Onto Innovation had a net margin of 19.29% and a return on equity of 14.38%. The company's revenue for the quarter was up 4.7% on a year-over-year basis. During the same period in the prior year, the company posted $1.32 EPS. Onto Innovation has set its Q3 2025 guidance at 0.750-0.950 EPS. As a group, equities research analysts forecast that Onto Innovation Inc. will post 6.26 earnings per share for the current fiscal year.

About Onto Innovation

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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