Panagora Asset Management Inc. Buys 58,209 Shares of Onto Innovation Inc. $ONTO

Panagora Asset Management Inc. lifted its position in Onto Innovation Inc. (NYSE:ONTO) by 33.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 229,989 shares of the semiconductor company’s stock after buying an additional 58,209 shares during the quarter. Panagora Asset Management Inc.’s holdings in Onto Innovation were worth $23,213,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. William Blair Investment Management LLC lifted its stake in Onto Innovation by 650.4% in the second quarter. William Blair Investment Management LLC now owns 1,098,860 shares of the semiconductor company’s stock valued at $110,908,000 after acquiring an additional 952,419 shares during the last quarter. Geneva Capital Management LLC grew its holdings in Onto Innovation by 6.5% during the second quarter. Geneva Capital Management LLC now owns 1,081,662 shares of the semiconductor company’s stock worth $109,172,000 after purchasing an additional 66,339 shares during the period. Norges Bank acquired a new position in Onto Innovation during the second quarter worth approximately $71,961,000. Situational Awareness LP bought a new stake in Onto Innovation in the first quarter valued at approximately $71,192,000. Finally, Wellington Management Group LLP lifted its position in shares of Onto Innovation by 12.6% in the first quarter. Wellington Management Group LLP now owns 489,413 shares of the semiconductor company’s stock valued at $59,385,000 after buying an additional 54,607 shares during the last quarter. 98.35% of the stock is owned by institutional investors.

Onto Innovation Stock Up 2.6%

ONTO opened at $146.90 on Tuesday. The stock has a market capitalization of $7.20 billion, a price-to-earnings ratio of 36.36, a P/E/G ratio of 0.94 and a beta of 1.64. Onto Innovation Inc. has a twelve month low of $85.88 and a twelve month high of $228.42. The company has a 50-day simple moving average of $133.79 and a 200 day simple moving average of $113.04.

Onto Innovation (NYSE:ONTO) last posted its quarterly earnings results on Thursday, November 6th. The semiconductor company reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.89 by $0.03. Onto Innovation had a net margin of 19.29% and a return on equity of 14.38%. The business had revenue of $218.19 million for the quarter, compared to analyst estimates of $220.23 million. During the same quarter last year, the business posted $1.34 EPS. The firm’s revenue for the quarter was down 13.5% on a year-over-year basis. Onto Innovation has set its Q4 2025 guidance at 1.180-1.330 EPS. Sell-side analysts anticipate that Onto Innovation Inc. will post 6.26 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts recently weighed in on ONTO shares. B. Riley boosted their target price on Onto Innovation from $173.00 to $180.00 and gave the stock a “buy” rating in a report on Tuesday, November 18th. Evercore ISI upped their price objective on shares of Onto Innovation from $115.00 to $160.00 and gave the company an “outperform” rating in a report on Tuesday, November 4th. Stifel Nicolaus increased their price objective on shares of Onto Innovation from $110.00 to $120.00 and gave the company a “hold” rating in a research report on Monday, October 13th. Oppenheimer raised their target price on shares of Onto Innovation from $130.00 to $180.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 14th. Finally, Jefferies Financial Group raised shares of Onto Innovation from a “hold” rating to a “buy” rating and increased their price target for the company from $100.00 to $170.00 in a report on Tuesday, September 23rd. Six equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $151.25.

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.