Westfield Capital Management Co. LP Buys 147,498 Shares of Onto Innovation Inc. $ONTO

Westfield Capital Management Co. LP grew its position in shares of Onto Innovation Inc. (NYSE:ONTO) by 72.5% in the 2nd quarter, Holdings Channel reports. The firm owned 351,064 shares of the semiconductor company’s stock after acquiring an additional 147,498 shares during the quarter. Westfield Capital Management Co. LP’s holdings in Onto Innovation were worth $35,433,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ONTO. William Blair Investment Management LLC increased its position in shares of Onto Innovation by 650.4% during the second quarter. William Blair Investment Management LLC now owns 1,098,860 shares of the semiconductor company’s stock worth $110,908,000 after buying an additional 952,419 shares during the period. Situational Awareness LP bought a new stake in Onto Innovation during the first quarter valued at $71,192,000. Amundi grew its holdings in Onto Innovation by 199.2% during the 1st quarter. Amundi now owns 347,900 shares of the semiconductor company’s stock worth $42,214,000 after acquiring an additional 231,629 shares during the period. Nuveen LLC acquired a new stake in Onto Innovation during the 1st quarter worth about $25,853,000. Finally, Goldman Sachs Group Inc. raised its position 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 worth $58,517,000 after acquiring an additional 208,907 shares in the last quarter. Institutional investors and hedge funds own 98.35% of the company’s stock.

Analyst Upgrades and Downgrades

ONTO has been the topic of several research analyst reports. Evercore ISI upped their target price on Onto Innovation from $115.00 to $160.00 and gave the company an “outperform” rating in a research report on Tuesday, November 4th. Jefferies Financial Group upgraded Onto Innovation from a “hold” rating to a “buy” rating and increased their price target for the stock from $100.00 to $170.00 in a report on Tuesday, September 23rd. Benchmark lowered their price objective on shares of Onto Innovation from $190.00 to $160.00 and set a “buy” rating for the company in a research note on Friday, August 8th. Oppenheimer boosted their target price on shares of Onto Innovation from $130.00 to $180.00 and gave the company an “outperform” rating in a research report on Tuesday, October 14th. Finally, Stifel Nicolaus raised their price target on shares of Onto Innovation from $110.00 to $120.00 and gave the stock a “hold” rating in a report on Monday, October 13th. Six research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Onto Innovation presently has an average rating of “Moderate Buy” and an average price target of $151.25.

Onto Innovation Stock Down 4.4%

Shares of NYSE:ONTO opened at $125.20 on Friday. Onto Innovation Inc. has a twelve month low of $85.88 and a twelve month high of $228.42. The stock’s 50 day moving average is $131.31 and its 200-day moving average is $111.59. The firm has a market capitalization of $6.14 billion, a price-to-earnings ratio of 30.99, a PEG ratio of 0.94 and a beta of 1.64.

Onto Innovation (NYSE:ONTO) last announced its quarterly earnings results on Thursday, November 6th. The semiconductor company reported $0.92 EPS for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $220.23 million. During the same quarter in the previous year, the business posted $1.34 EPS. Onto Innovation’s quarterly revenue was down 13.5% on a year-over-year basis. Onto Innovation has set its Q4 2025 guidance at 1.180-1.330 EPS. Equities research analysts anticipate 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.