Future Fund LLC Takes Position in Onto Innovation Inc. $ONTO

Key Points

• Future Fund LLC opened a new position in Onto Innovation in the fourth quarter, buying 14,727 shares worth about $2.3 million.
• Onto Innovation reported better-than-expected quarterly earnings, with EPS of $1.42 versus the $1.38 estimate, while revenue rose 9.5% year over year to $291.95 million.
• Wall Street sentiment remains bullish: several firms raised price targets, and the stock now has a consensus Buy rating with an average target price of $310.63.

Future Fund LLC purchased a new position in shares of Onto Innovation Inc. (NYSE:ONTO - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 14,727 shares of the semiconductor company's stock, valued at approximately $2,325,000.

Other hedge funds have also made changes to their positions in the company. Westside Investment Management Inc. grew its position in shares of Onto Innovation by 100.0% during the third quarter. Westside Investment Management Inc. now owns 198 shares of the semiconductor company's stock worth $27,000 after buying an additional 99 shares in the last quarter. Danske Bank A S acquired a new stake in shares of Onto Innovation during the third quarter worth approximately $39,000. Covestor Ltd grew its position in shares of Onto Innovation by 224.5% during the fourth quarter. Covestor Ltd now owns 305 shares of the semiconductor company's stock worth $48,000 after buying an additional 211 shares in the last quarter. Torren Management LLC acquired a new stake in shares of Onto Innovation during the fourth quarter worth approximately $49,000. Finally, EverSource Wealth Advisors LLC grew its position in shares of Onto Innovation by 206.9% during the second quarter. EverSource Wealth Advisors LLC now owns 577 shares of the semiconductor company's stock worth $58,000 after buying an additional 389 shares in the last quarter. Institutional investors and hedge funds own 98.35% of the company's stock.

Onto Innovation Price Performance

Onto Innovation stock opened at $257.99 on Friday. The company has a market cap of $12.83 billion, a PE ratio of 120.56, a P/E/G ratio of 1.22 and a beta of 1.70. The company has a fifty day moving average price of $256.42 and a two-hundred day moving average price of $207.42. Onto Innovation Inc. has a 12 month low of $89.40 and a 12 month high of $316.00.

Onto Innovation (NYSE:ONTO - Get Free Report) last released its quarterly earnings data on Tuesday, May 5th. The semiconductor company reported $1.42 EPS for the quarter, topping analysts' consensus estimates of $1.38 by $0.04. The firm had revenue of $291.95 million during the quarter, compared to the consensus estimate of $292.00 million. Onto Innovation had a net margin of 10.32% and a return on equity of 11.68%. The firm's revenue was up 9.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.51 earnings per share. Equities research analysts anticipate that Onto Innovation Inc. will post 7.05 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Oppenheimer set a $370.00 price target on shares of Onto Innovation in a research report on Wednesday, May 6th. Wall Street Zen raised shares of Onto Innovation from a "hold" rating to a "buy" rating in a research report on Saturday, May 9th. B. Riley Financial raised their price target on shares of Onto Innovation from $275.00 to $310.00 and gave the stock a "buy" rating in a research report on Monday, April 13th. Jefferies Financial Group reissued a "buy" rating and set a $350.00 price target on shares of Onto Innovation in a research report on Wednesday, May 6th. Finally, Stifel Nicolaus set a $350.00 price objective on shares of Onto Innovation and gave the stock a "buy" rating in a report on Friday, April 17th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat.com, Onto Innovation presently has an average rating of "Buy" and a consensus target price of $310.63.

Onto Innovation News Summary

Here are the key news stories impacting Onto Innovation this week:

• Positive Sentiment: Zacks Research raised its earnings forecasts for Onto Innovation across several periods, including FY2026 and FY2027, signaling confidence in the company’s growth outlook and future profit potential.
• Positive Sentiment: Needham recently increased its price target on Onto Innovation to $330 from $320 while keeping a Buy rating, reinforcing the bullish analyst backdrop for the shares.
• Neutral Sentiment: Market commentary highlighted Onto Innovation as one of several semiconductor and tech names benefiting from investor interest in AI-related chip and memory themes, which may keep sentiment constructive but is not company-specific. Here’s What the Street is Thinking About Onto Innovation Inc. (ONTO)
• Neutral Sentiment: Broader sector coverage also continues to list Onto Innovation among strong-buy semiconductor stocks, adding to the positive tone around the name. Why Onto Innovation Inc. (ONTO) Price Target Was Increased to $330 By Needham?

Onto Innovation Company Profile

Onto Innovation NYSE: ONTO is a global supplier of advanced process control and inspection systems for semiconductor and electronics manufacturers. The company's solutions span metrology, inspection, defect review and lithography mask repair, helping customers optimize yield, reduce costs and improve device performance. By integrating high-resolution optical and e-beam tools with sophisticated software analytics, Onto Innovation enables wafer, mask and advanced packaging producers to maintain tight process control across leading-edge nodes and specialty applications.

Key products include high-throughput wafer metrology systems, optical and e-beam defect inspection platforms, mask inspection and repair tools, and data-driven software for yield management and process optimization.

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