Magnetar Financial LLC Cuts Stock Position in Onto Innovation Inc. $ONTO

Magnetar Financial LLC lessened its position in shares of Onto Innovation Inc. (NYSE:ONTO) by 30.0% in the 2nd quarter, HoldingsChannel reports. The fund owned 43,193 shares of the semiconductor company’s stock after selling 18,505 shares during the period. Magnetar Financial LLC’s holdings in Onto Innovation were worth $4,359,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Onto Innovation during the first quarter worth $2,815,000. HB Wealth Management LLC increased its position in Onto Innovation by 45.7% during the 1st quarter. HB Wealth Management LLC now owns 1,899 shares of the semiconductor company’s stock valued at $230,000 after buying an additional 596 shares in the last quarter. FourThought Financial Partners LLC purchased a new stake in Onto Innovation in the first quarter valued at about $201,000. LPL Financial LLC boosted its holdings in Onto Innovation by 20.1% in the first quarter. LPL Financial LLC now owns 42,849 shares of the semiconductor company’s stock worth $4,989,000 after acquiring an additional 7,177 shares in the last quarter. Finally, First National Advisers LLC purchased a new stake in shares of Onto Innovation during the first quarter worth about $336,000. 98.35% of the stock is currently owned by institutional investors and hedge funds.

Onto Innovation Trading Up 1.5%

Shares of NYSE ONTO opened at $127.17 on Friday. The company has a 50 day simple moving average of $131.63 and a two-hundred day simple moving average of $111.61. The stock has a market cap of $6.23 billion, a price-to-earnings ratio of 31.48, a PEG ratio of 0.94 and a beta of 1.64. Onto Innovation Inc. has a 12 month low of $85.88 and a 12 month high of $228.42.

Onto Innovation (NYSE:ONTO) last issued its 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 firm had revenue of $218.19 million during the quarter, compared to analysts’ expectations of $220.23 million. During the same quarter last year, the company posted $1.34 earnings per share. The firm’s revenue was down 13.5% compared to the same quarter last year. Onto Innovation has set its Q4 2025 guidance at 1.180-1.330 EPS. Analysts forecast that Onto Innovation Inc. will post 6.26 EPS for the current year.

Analyst Upgrades and Downgrades

ONTO has been the subject of several research analyst reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Onto Innovation in a research report on Wednesday, October 8th. 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. 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. Needham & Company LLC reissued a “buy” rating and set a $150.00 price objective on shares of Onto Innovation in a report on Tuesday. Finally, Jefferies Financial Group upgraded Onto Innovation from a “hold” rating to a “buy” rating and raised their target price for the stock from $100.00 to $170.00 in a research note on Tuesday, September 23rd. Six research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus 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.