Onto Innovation (NYSE:ONTO) Hits New 12-Month High Following Analyst Upgrade

Key Points

• Shares of Onto Innovation hit a new 52-week high after B. Riley Financial raised its price target from $275 to $310 and kept a buy rating, while the MarketBeat consensus remains a Moderate Buy with an average target of $260.
• Major institutions have been adding size—Wellington, William Blair, Voya and Jennison materially increased stakes and Norges Bank opened a new position—leaving roughly 98.35% institutional ownership.
• Onto slightly missed quarterly EPS ($1.26 vs. $1.28) but beat revenue ($266.9M vs. $265.8M), provided Q1 2026 EPS guidance of 1.260–1.360, and currently trades at a high valuation (market cap ~$12.74B, P/E ~92.5).

Onto Innovation Inc. (NYSE:ONTO - Get Free Report)'s stock price hit a new 52-week high during trading on Tuesday after B. Riley Financial raised their price target on the stock from $275.00 to $310.00. B. Riley Financial currently has a buy rating on the stock. Onto Innovation traded as high as $259.00 and last traded at $254.6040, with a volume of 16905 shares trading hands. The stock had previously closed at $252.61.

Other research analysts have also issued reports about the stock. Evercore reiterated an "outperform" rating and set a $250.00 price target on shares of Onto Innovation in a research note on Thursday, February 19th. Oppenheimer reiterated an "outperform" rating and set a $265.00 price target on shares of Onto Innovation in a research note on Friday, February 20th. Zacks Research upgraded shares of Onto Innovation from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, December 31st. Weiss Ratings reiterated a "hold (c)" rating on shares of Onto Innovation in a research note on Thursday, January 22nd. Finally, Cantor Fitzgerald boosted their price target on shares of Onto Innovation from $275.00 to $300.00 and gave the stock an "overweight" rating in a research note on Monday, April 6th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $260.00.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in ONTO. Wellington Management Group LLP grew its position in Onto Innovation by 1,217.0% during the third quarter. Wellington Management Group LLP now owns 1,398,995 shares of the semiconductor company's stock worth $180,778,000 after buying an additional 1,292,772 shares during the period. William Blair Investment Management LLC grew its position in shares of Onto Innovation by 80.3% in the third quarter. William Blair Investment Management LLC now owns 1,981,761 shares of the semiconductor company's stock valued at $256,083,000 after purchasing an additional 882,901 shares during the last quarter. Voya Investment Management LLC grew its position in shares of Onto Innovation by 4,494.6% in the third quarter. Voya Investment Management LLC now owns 868,607 shares of the semiconductor company's stock valued at $111,974,000 after purchasing an additional 849,702 shares during the last quarter. Norges Bank acquired a new stake in shares of Onto Innovation in the fourth quarter valued at approximately $104,938,000. Finally, Jennison Associates LLC grew its position in shares of Onto Innovation by 1,293.5% in the fourth quarter. Jennison Associates LLC now owns 680,822 shares of the semiconductor company's stock valued at $107,475,000 after purchasing an additional 631,965 shares during the last quarter. 98.35% of the stock is currently owned by institutional investors and hedge funds.

Onto Innovation Price Performance

The firm's 50-day moving average price is $211.26 and its 200 day moving average price is $175.62. The firm has a market capitalization of $12.74 billion, a price-to-earnings ratio of 92.48, a price-to-earnings-growth ratio of 1.34 and a beta of 1.47.

Onto Innovation (NYSE:ONTO - Get Free Report) last released its quarterly earnings results on Thursday, February 19th. The semiconductor company reported $1.26 EPS for the quarter, missing the consensus estimate of $1.28 by ($0.02). The business had revenue of $266.87 million during the quarter, compared to analyst estimates of $265.78 million. Onto Innovation had a net margin of 13.60% and a return on equity of 12.20%. The firm's revenue for the quarter was up 1.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.51 earnings per share. Onto Innovation has set its Q1 2026 guidance at 1.260-1.360 EPS. On average, analysts predict that Onto Innovation Inc. will post 6.26 earnings per share for the current fiscal year.

About Onto Innovation

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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