Onto Innovation (NYSE:ONTO) Trading Up 6.7% - Here's What Happened

Key Points

• Onto Innovation shares rose 6.7% to $353.83, although trading volume was 32% below the average daily level.
• Analysts remain broadly bullish: the stock carries a consensus “Buy” rating and a $380.30 average price target, with Oppenheimer raising its target to $450.
• The company beat quarterly expectations with $1.93 in EPS versus $1.69 forecast and $343.13 million in revenue, up 35.3% year over year; institutional investors own 98.35% of the stock.

Onto Innovation Inc. (NYSE:ONTO - Get Free Report)'s share price shot up 6.7% on Monday . The company traded as high as $353.84 and last traded at $353.83. 739,316 shares changed hands during trading, a decline of 32% from the average daily volume of 1,088,478 shares. The stock had previously closed at $331.71.

Wall Street Analysts Forecast Growth

ONTO has been the topic of several research reports. B. Riley Financial reissued a "buy" rating on shares of Onto Innovation in a research report on Friday, August 7th. Oppenheimer increased their target price on Onto Innovation from $370.00 to $450.00 and gave the company an "outperform" rating in a research note on Monday, June 22nd. Morgan Stanley reiterated an "overweight" rating and set a $383.00 target price on shares of Onto Innovation in a report on Friday, August 7th. Wall Street Zen raised Onto Innovation from a "hold" rating to a "buy" rating in a research report on Sunday, August 9th. Finally, Zacks Research upgraded Onto Innovation from a "hold" rating to a "strong-buy" rating in a report on Tuesday, July 14th. Two research 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, the stock presently has an average rating of "Buy" and a consensus price target of $380.30.

Onto Innovation Price Performance

The stock has a market cap of $17.25 billion, a PE ratio of 132.16, a P/E/G ratio of 1.11 and a beta of 1.59. The company has a current ratio of 9.73, a quick ratio of 8.33 and a debt-to-equity ratio of 0.77. The company's 50 day moving average is $302.57 and its 200-day moving average is $260.21.

Onto Innovation (NYSE:ONTO - Get Free Report) last issued its quarterly earnings data on Thursday, August 6th. The semiconductor company reported $1.93 EPS for the quarter, topping analysts' consensus estimates of $1.69 by $0.24. The firm had revenue of $343.13 million for the quarter, compared to analyst estimates of $325.29 million. Onto Innovation had a net margin of 11.84% and a return on equity of 13.44%. The firm's revenue was up 35.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.25 EPS. Onto Innovation has set its Q3 2026 guidance at 2.180-2.380 EPS. As a group, sell-side analysts predict that Onto Innovation Inc. will post 7.88 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Andar Capital Management HK Ltd purchased a new position in shares of Onto Innovation during the 2nd quarter valued at approximately $69,000,000. BlackRock Inc. bought a new stake in shares of Onto Innovation in the second quarter worth $2,083,436,000. Wellington Management Group LLP increased its stake in shares of Onto Innovation by 1,217.0% in 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 last quarter. Paradigm Capital Management Inc. NY acquired a new stake in Onto Innovation in the second quarter valued at $416,839,000. Finally, William Blair Investment Management LLC acquired a new stake in Onto Innovation in the second quarter valued at $251,812,000. Hedge funds and other institutional investors own 98.35% of the company's stock.

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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