Needham & Company LLC Forecasts Strong Price Appreciation for Onto Innovation (NYSE:ONTO) Stock

Key Points

• Needham raised its price target for Onto Innovation from $330 to $360 while maintaining a “Buy” rating, implying 16.2% upside from the prior close.
• Analyst sentiment is broadly positive, with Onto Innovation receiving an average “Buy” rating and a consensus price target of $347.60; Oppenheimer has the highest target at $450.
• Onto Innovation exceeded quarterly expectations, reporting $1.93 in EPS versus a $1.69 estimate and revenue of $343.13 million, up 35.3% year over year. Institutional investors own 98.35% of the company.

Onto Innovation (NYSE:ONTO - Get Free Report) had its price objective raised by analysts at Needham & Company LLC from $330.00 to $360.00 in a report issued on Friday,Benzinga reports. The firm presently has a "buy" rating on the semiconductor company's stock. Needham & Company LLC's price target indicates a potential upside of 16.20% from the company's previous close.

Several other research firms have also weighed in on ONTO. B. Riley Financial upped their target price on shares of Onto Innovation from $275.00 to $310.00 and gave the stock a "buy" rating in a report on Monday, April 13th. Freedom Capital upgraded shares of Onto Innovation to a "strong-buy" rating in a research report on Wednesday, June 17th. Zacks Research raised shares of Onto Innovation from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, July 14th. Oppenheimer raised their price objective on shares of Onto Innovation from $370.00 to $450.00 and gave the stock an "outperform" rating in a report on Monday, June 22nd. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of Onto Innovation in a research note on Friday, June 5th. They issued a "buy" rating and a $350.00 target price for the company. Two analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has given a Hold rating to the company. According to MarketBeat, Onto Innovation has an average rating of "Buy" and an average price target of $347.60.

Onto Innovation Trading Up 15.3%

ONTO stock opened at $309.82 on Friday. Onto Innovation has a 1-year low of $93.50 and a 1-year high of $386.46. The firm has a market cap of $15.41 billion, a P/E ratio of 142.91, a P/E/G ratio of 1.13 and a beta of 1.59. The business's 50 day moving average is $296.05 and its 200-day moving average is $255.68.

Onto Innovation (NYSE:ONTO - Get Free Report) last posted its earnings results on Thursday, August 6th. The semiconductor company reported $1.93 EPS for the quarter, topping the consensus estimate of $1.69 by $0.24. The business had revenue of $343.13 million during the quarter, compared to the consensus estimate of $325.29 million. Onto Innovation had a return on equity of 11.68% and a net margin of 10.32%.Onto Innovation's revenue was up 35.3% on a year-over-year basis. During the same quarter last year, the company earned $1.25 EPS. Onto Innovation has set its Q3 2026 guidance at 2.180-2.380 EPS. Sell-side analysts forecast that Onto Innovation will post 7.14 EPS for the current year.

Hedge Funds Weigh In On Onto Innovation

A number of institutional investors have recently modified their holdings of ONTO. CWM LLC lifted its stake in shares of Onto Innovation by 361.2% in the 4th quarter. CWM LLC now owns 20,068 shares of the semiconductor company's stock valued at $3,168,000 after purchasing an additional 15,717 shares during the period. Entropy Technologies LP acquired a new stake in shares of Onto Innovation during the first quarter worth $2,877,000. M&T Bank Corp grew its stake in shares of Onto Innovation by 11,228.9% during the fourth quarter. M&T Bank Corp now owns 341,112 shares of the semiconductor company's stock worth $53,848,000 after purchasing an additional 338,101 shares during the period. Fideuram Asset Management Ireland dac bought a new stake in Onto Innovation in the fourth quarter valued at about $1,583,000. Finally, California State Teachers Retirement System boosted its holdings in Onto Innovation by 22.1% during the first quarter. California State Teachers Retirement System now owns 56,775 shares of the semiconductor company's stock worth $11,643,000 after buying an additional 10,271 shares during the last quarter. 98.35% of the stock is owned by institutional investors.

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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