Onto Innovation (NYSE:ONTO) Upgraded to Strong-Buy at The Goldman Sachs Group

Key Points

• Goldman Sachs upgraded Onto Innovation to “strong buy,” joining a broadly bullish analyst consensus of “Buy” with a $380.30 average price target.
• Onto Innovation reported quarterly EPS of $1.93, beating estimates of $1.69, while revenue rose 35.3% year over year to $343.13 million. The company guided for third-quarter 2026 EPS of $2.18–$2.38.
• Shares traded up 6.1% to $351.91, giving the company a $17.27 billion market capitalization; hedge funds and other institutional investors own 98.35% of the stock.

Onto Innovation (NYSE:ONTO - Get Free Report) was upgraded by stock analysts at The Goldman Sachs Group to a "strong-buy" rating in a note issued to investors on Monday,Zacks.com reports.

Other research analysts have also issued research reports about the company. Morgan Stanley reiterated an "overweight" rating and set a $383.00 price target on shares of Onto Innovation in a report on Friday, August 7th. Jefferies Financial Group raised their price objective on shares of Onto Innovation from $350.00 to $400.00 and gave the stock a "buy" rating in a research report on Friday, August 7th. B. Riley Financial reaffirmed a "buy" rating on shares of Onto Innovation in a research note on Friday, August 7th. Cantor Fitzgerald boosted their target price on shares of Onto Innovation from $350.00 to $410.00 and gave the company an "overweight" rating in a report on Monday, June 29th. Finally, Zacks Research upgraded shares of Onto Innovation from a "hold" rating to a "strong-buy" rating in a report on Tuesday, July 14th. Three equities research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus target price of $380.30.

Onto Innovation Trading Up 6.1%

Shares of Onto Innovation stock opened at $351.91 on Monday. The company has a debt-to-equity ratio of 0.77, a current ratio of 9.73 and a quick ratio of 8.33. The stock's 50 day simple moving average is $304.23 and its 200-day simple moving average is $261.22. The stock has a market cap of $17.27 billion, a P/E ratio of 132.30, a P/E/G ratio of 1.11 and a beta of 1.59. Onto Innovation has a 1-year low of $101.00 and a 1-year high of $386.46.

Onto Innovation (NYSE:ONTO - Get Free Report) last posted its quarterly earnings results on Thursday, August 6th. The semiconductor company reported $1.93 EPS for the quarter, beating the consensus estimate of $1.69 by $0.24. Onto Innovation had a return on equity of 13.44% and a net margin of 11.84%.The firm had revenue of $343.13 million during the quarter, compared to analysts' expectations of $325.29 million. During the same quarter last year, the firm earned $1.25 earnings per share. The business's revenue for the quarter was up 35.3% on a year-over-year basis. Onto Innovation has set its Q3 2026 guidance at 2.180-2.380 EPS. Analysts predict that Onto Innovation will post 7.88 EPS for the current fiscal year.

Hedge Funds Weigh In On Onto Innovation

A number of hedge funds have recently modified their holdings of the business. Andar Capital Management HK Ltd acquired a new stake in shares of Onto Innovation during the 2nd quarter worth about $69,000,000. BlackRock Inc. purchased a new position in Onto Innovation during the second quarter worth about $2,083,436,000. Wellington Management Group LLP boosted its stake 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. Franklin Resources Inc. increased its position in shares of Onto Innovation by 21.4% during the fourth quarter. Franklin Resources Inc. now owns 1,353,001 shares of the semiconductor company's stock valued at $213,585,000 after acquiring an additional 238,500 shares during the last quarter. Finally, Geode Capital Management LLC increased its position in shares of Onto Innovation by 45.4% during the fourth quarter. Geode Capital Management LLC now owns 1,127,532 shares of the semiconductor company's stock valued at $178,024,000 after acquiring an additional 352,316 shares during the last quarter. 98.35% of the stock is currently owned by hedge funds and other institutional investors.

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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