Onto Innovation Inc. $ONTO Holdings Boosted by Phoenix Financial Ltd.

Phoenix Financial Ltd. increased its position in Onto Innovation Inc. (NYSE:ONTO) by 12.0% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 450,163 shares of the semiconductor company’s stock after purchasing an additional 48,350 shares during the period. Phoenix Financial Ltd. owned approximately 0.92% of Onto Innovation worth $138,569,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the business. Highland Investment Advisors LLC acquired a new position in Onto Innovation during the second quarter worth $25,000. Fiduciary Financial Advisors acquired a new position in shares of Onto Innovation during the second quarter valued at about $25,000. Provenance Wealth Advisors LLC acquired a new position in shares of Onto Innovation during the third quarter valued at about $26,000. CoreCap Advisors LLC acquired a new position in shares of Onto Innovation during the second quarter valued at about $38,000. Finally, Rakuten Securities Inc. bought a new stake in shares of Onto Innovation during the second quarter worth about $40,000. Institutional investors and hedge funds own 98.35% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Zacks Research lowered shares of Onto Innovation from a “strong-buy” rating to a “hold” rating in a report on Friday, November 6th. Weiss Ratings upgraded Onto Innovation from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, August 21st. Morgan Stanley decreased their price objective on Onto Innovation from $360.00 to $325.00 and set an “overweight” rating for the company in a report on Tuesday, November 10th. Evercore assumed coverage on Onto Innovation in a research note on Tuesday, November 10th. They issued a “strong-buy” rating for the company. Finally, Needham & Company LLC dropped their target price on Onto Innovation from $360.00 to $285.00 and set a “buy” rating on the stock in a report on Tuesday, November 10th. Two analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, Onto Innovation currently has a consensus rating of “Buy” and an average price target of $352.08.

Onto Innovation Stock Down 2.9%

Shares of ONTO stock traded down $6.13 on Friday, hitting $203.54. The stock had a trading volume of 806,947 shares, compared to its average volume of 1,211,282. The business has a 50 day moving average of $248.06 and a 200 day moving average of $259.13. The stock has a market cap of $9.99 billion, a price-to-earnings ratio of 66.95, a price-to-earnings-growth ratio of 0.61 and a beta of 1.66. The company has a debt-to-equity ratio of 0.74, a current ratio of 6.78 and a quick ratio of 8.33. Onto Innovation Inc. has a 12-month low of $121.57 and a 12-month high of $386.46.

Onto Innovation (NYSE:ONTO) last released its quarterly earnings results on Monday, November 9th. The semiconductor company reported $2.44 earnings per share for the quarter, beating analysts’ consensus estimates of $2.30 by $0.14. Onto Innovation had a net margin of 11.53% and a return on equity of 17.18%. The company had revenue of $409.75 million for the quarter, compared to analyst estimates of $392.06 million. During the same period last year, the firm earned $0.92 earnings per share. The firm’s revenue was up 87.8% on a year-over-year basis. As a group, analysts expect that Onto Innovation Inc. will post 8.25 EPS for the current year.

Key Onto Innovation News

Investors following ONTO have been watching these news items:

• Positive Sentiment: Q3 operating cash flow reached $79 million, while reported gross-margin expansion and operational efficiencies support the profitability outlook. Article: Onto Innovation’s Q3 Cash Flow Hits $79M
• Neutral Sentiment: RBC lowered its price target to $350 from $400 but maintained an Outperform rating, reflecting a more cautious valuation view without changing its positive rating. Article: RBC Cuts Price Target, Keeps Outperform Rating
• Negative Sentiment: Several reports flag ONTO’s premium valuation, customer-concentration exposure and weaker capital-return profile as risks that could limit upside even as earnings and demand grow. A separate report describes a pessimistic Morgan Stanley outlook, while analyst target cuts—including from Jefferies—add to pressure on sentiment. Article: ONTO Falls as Growth Strength Collides With Valuation

Insider Activity at Onto Innovation

In other Onto Innovation news, Director David Miller sold 2,000 shares of Onto Innovation stock in a transaction that occurred on Tuesday, September 29th. The shares were sold at an average price of $300.00, for a total transaction of $600,000.00. Following the transaction, the director owned 10,692 shares of the company’s stock, valued at $3,207,600. This trade represents a 15.76% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Susan Lynch sold 1,000 shares of the business’s stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $302.30, for a total value of $302,300.00. Following the completion of the transaction, the director owned 2,684 shares in the company, valued at $811,373.20. The trade was a 27.14% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.51% of the stock is owned by company insiders.

Onto Innovation Company Profile

Onto Innovation develops process-control and inspection solutions used in semiconductor manufacturing. Its products include metrology and inspection systems, lithography equipment, and software that help manufacturers monitor production processes and identify defects. The company serves producers of semiconductor devices, advanced packaging, and specialty components. Its technologies support applications ranging from traditional wafer fabrication to newer packaging methods used in complex chips.