Envestnet Asset Management Inc. Decreases Stake in Onto Innovation Inc. $ONTO

Envestnet Asset Management Inc. decreased its holdings in Onto Innovation Inc. (NYSE:ONTO) by 42.9% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 47,377 shares of the semiconductor company’s stock after selling 35,660 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Onto Innovation were worth $4,782,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Banque Cantonale Vaudoise acquired a new stake in shares of Onto Innovation in the first quarter worth $29,000. Migdal Insurance & Financial Holdings Ltd. boosted its position in Onto Innovation by 79.4% during the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 244 shares of the semiconductor company’s stock worth $30,000 after purchasing an additional 108 shares during the period. Larson Financial Group LLC increased its holdings in Onto Innovation by 3,700.0% in the 1st 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. Brooklyn Investment Group raised its position in Onto Innovation by 3,690.9% in the first quarter. Brooklyn Investment Group now owns 417 shares of the semiconductor company’s stock valued at $51,000 after purchasing an additional 406 shares during the period. Finally, Smartleaf Asset Management LLC lifted its stake in shares of Onto Innovation by 27.2% during the first quarter. Smartleaf Asset Management LLC now owns 697 shares of the semiconductor company’s stock worth $85,000 after purchasing an additional 149 shares in the last quarter. 98.35% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on ONTO shares. Jefferies Financial Group upgraded Onto Innovation from a “hold” rating to a “buy” rating and increased their target price for the company from $100.00 to $170.00 in a research note on Tuesday, September 23rd. B. Riley increased their price objective on shares of Onto Innovation from $145.00 to $170.00 and gave the company a “buy” rating in a research report on Friday, October 10th. Benchmark dropped their price objective on shares of Onto Innovation from $190.00 to $160.00 and set a “buy” rating on the stock in a research note on Friday, August 8th. Evercore ISI upped their target price on shares of Onto Innovation from $115.00 to $160.00 and gave the company an “outperform” rating in a research note on Tuesday, November 4th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Onto Innovation in a report on Wednesday, October 8th. Six investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, Onto Innovation has an average rating of “Moderate Buy” and a consensus target price of $150.00.

Onto Innovation Stock Down 4.2%

Shares of ONTO opened at $129.81 on Friday. The firm has a market cap of $6.36 billion, a price-to-earnings ratio of 32.13, a PEG ratio of 0.94 and a beta of 1.64. The business’s 50 day moving average is $129.11 and its two-hundred day moving average is $111.46. Onto Innovation Inc. has a 52-week low of $85.88 and a 52-week high of $228.42.

Onto Innovation (NYSE:ONTO) last released its quarterly earnings results on Thursday, November 6th. The semiconductor company reported $0.92 earnings per share for the quarter, topping analysts’ consensus estimates of $0.89 by $0.03. The business had revenue of $218.19 million during the quarter, compared to the consensus estimate of $220.23 million. Onto Innovation had a net margin of 19.29% and a return on equity of 14.38%. The business’s quarterly revenue was down 13.5% compared to the same quarter last year. During the same quarter last year, the company earned $1.34 earnings per share. Onto Innovation has set its Q4 2025 guidance at 1.180-1.330 EPS. On average, equities analysts expect 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.