Onto Innovation (NYSE:ONTO) Shares Gap Up - Still a Buy?

Key Points

• Onto Innovation shares gapped up from a previous close of $116.00 to an opening price of $122.88, currently trading at $125.59 with a significant volume of 244,593 shares.
• Analysts show a mixed outlook with a consensus rating of "Moderate Buy" and an average price target of $137.86, despite recent price target reductions from firms like Benchmark and Cantor Fitzgerald.
• The company reported Q2 earnings of $1.25 per share, missing estimates slightly, but showed a revenue increase of 4.7% year-over-year and set Q3 2025 guidance between $0.750 and $0.950 EPS.

Onto Innovation Inc. (NYSE:ONTO - Get Free Report) shares gapped up before the market opened on Thursday . The stock had previously closed at $116.00, but opened at $122.88. Onto Innovation shares last traded at $125.59, with a volume of 244,593 shares changing hands.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on ONTO shares. Benchmark dropped their price target on shares of Onto Innovation from $190.00 to $160.00 and set a "buy" rating on the stock in a research report on Friday, August 8th. Cantor Fitzgerald dropped their price target on shares of Onto Innovation from $110.00 to $90.00 and set a "neutral" rating on the stock in a research report on Tuesday, June 24th. Finally, B. Riley lowered their price objective on shares of Onto Innovation from $160.00 to $145.00 and set a "buy" rating on the stock in a research report on Friday, August 8th. Five analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $137.86.

Onto Innovation Price Performance

The stock has a market cap of $6.09 billion, a PE ratio of 30.67, a P/E/G ratio of 0.82 and a beta of 1.58. The firm's 50 day moving average price is $103.69 and its two-hundred day moving average price is $109.36.

Onto Innovation (NYSE:ONTO - Get Free Report) last posted its earnings results on Thursday, August 7th. The semiconductor company reported $1.25 earnings per share for the quarter, missing analysts' consensus estimates of $1.27 by ($0.02). The firm had revenue of $253.60 million for the quarter, compared to the consensus estimate of $250.56 million. Onto Innovation had a return on equity of 14.38% and a net margin of 19.29%.The business's revenue was up 4.7% on a year-over-year basis. During the same period last year, the company posted $1.32 EPS. Onto Innovation has set its Q3 2025 guidance at 0.750-0.950 EPS. Analysts anticipate that Onto Innovation Inc. will post 6.26 earnings per share for the current year.

Institutional Trading of Onto Innovation

A number of hedge funds and other institutional investors have recently bought and sold shares of ONTO. MassMutual Private Wealth & Trust FSB grew its stake in Onto Innovation by 177.6% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 236 shares of the semiconductor company's stock worth $29,000 after buying an additional 151 shares in the last quarter. Banque Cantonale Vaudoise purchased a new position in Onto Innovation in the 1st quarter worth approximately $29,000. Migdal Insurance & Financial Holdings Ltd. grew its stake in Onto Innovation by 79.4% in the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 244 shares of the semiconductor company's stock worth $30,000 after buying an additional 108 shares in the last quarter. Larson Financial Group LLC grew its stake in Onto Innovation by 3,700.0% in the 1st quarter. Larson Financial Group LLC now owns 266 shares of the semiconductor company's stock worth $32,000 after buying an additional 259 shares in the last quarter. Finally, Berbice Capital Management LLC grew its stake in Onto Innovation by 33.3% in the 1st quarter. Berbice Capital Management LLC now owns 400 shares of the semiconductor company's stock worth $49,000 after buying an additional 100 shares in the last quarter. Institutional investors own 98.35% of the company's stock.

Onto Innovation Company Profile

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.

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