Onto Innovation (NYSE:ONTO) Trading 6.7% Higher – Still a Buy?

Onto Innovation Inc. (NYSE:ONTO) shares were up 6.7% on Monday . The stock traded as high as $353.84 and last traded at $353.83. 739,316 shares changed hands during mid-day 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

A number of equities research analysts have recently issued reports on ONTO shares. Morgan Stanley restated an “overweight” rating and issued a $383.00 target price on shares of Onto Innovation in a research note on Friday, August 7th. Freedom Capital upgraded Onto Innovation to a “strong-buy” rating in a research note on Wednesday, June 17th. Deutsche Bank Aktiengesellschaft began coverage on Onto Innovation in a report on Friday, June 5th. They issued a “buy” rating and a $350.00 price objective for the company. B. Riley Financial restated a “buy” rating on shares of Onto Innovation in a research note on Friday, August 7th. Finally, Jefferies Financial Group increased their target price on Onto Innovation from $350.00 to $400.00 and gave the stock a “buy” rating in a report on Friday, August 7th. Two research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $380.30.

Onto Innovation Trading Up 6.0%

The stock has a market cap of $17.25 billion, a P/E ratio of 132.16, a price-to-earnings-growth ratio of 1.11 and a beta of 1.59. The firm’s 50 day simple moving average is $302.57 and its two-hundred day simple moving average is $260.21. The company has a quick ratio of 8.33, a current ratio of 9.73 and a debt-to-equity ratio of 0.77.

Onto Innovation (NYSE:ONTO) 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. Onto Innovation had a net margin of 11.84% and a return on equity of 13.44%. The firm had revenue of $343.13 million during the quarter, compared to analysts’ expectations of $325.29 million. During the same quarter in the prior year, the firm earned $1.25 EPS. Onto Innovation’s quarterly revenue was up 35.3% on a year-over-year basis. Onto Innovation has set its Q3 2026 guidance at 2.180-2.380 EPS. As a group, equities research analysts predict that Onto Innovation Inc. will post 7.88 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Onto Innovation

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ONTO. CWM LLC boosted its stake in Onto Innovation by 361.2% in the fourth quarter. CWM LLC now owns 20,068 shares of the semiconductor company’s stock valued at $3,168,000 after acquiring an additional 15,717 shares during the last quarter. Entropy Technologies LP bought a new stake in Onto Innovation in the first quarter valued at about $2,877,000. Cetera Investment Advisers raised its position in shares of Onto Innovation by 15.6% in the 1st quarter. Cetera Investment Advisers now owns 13,266 shares of the semiconductor company’s stock valued at $2,720,000 after acquiring an additional 1,793 shares during the period. M&T Bank Corp raised its holdings in Onto Innovation by 11,228.9% in 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. Finally, Andar Capital Management HK Ltd acquired a new stake in Onto Innovation during the 2nd quarter worth $69,000,000. 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.