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

The Goldman Sachs Group upgraded shares of Onto Innovation (NYSE:ONTO) to a strong-buy rating in a report published on Monday,Zacks.com reports.

Several other research analysts have also commented on ONTO. Evercore reaffirmed an “outperform” rating and set a $390.00 price target on shares of Onto Innovation in a research report on Friday, August 7th. Weiss Ratings downgraded shares of Onto Innovation from a “hold (c)” rating to a “hold (c-)” rating in a research report on Friday, August 7th. Deutsche Bank Aktiengesellschaft started coverage on shares of Onto Innovation in a research report on Friday, June 5th. They set a “buy” rating and a $350.00 price objective on the stock. Needham & Company LLC upped their target price on shares of Onto Innovation from $330.00 to $360.00 and gave the company a “buy” rating in a report on Friday, August 7th. Finally, Wall Street Zen upgraded shares of Onto Innovation from a “hold” rating to a “buy” rating in a research note on Sunday, August 9th. Three analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $380.30.

Onto Innovation Price Performance

Shares of ONTO 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. Onto Innovation has a 1-year low of $101.00 and a 1-year high of $386.46. The stock has a market cap of $17.27 billion, a PE ratio of 132.30, a price-to-earnings-growth ratio of 1.11 and a beta of 1.59. The firm has a fifty day moving average price of $304.23 and a 200 day moving average price of $261.22.

Onto Innovation (NYSE:ONTO) last issued its quarterly earnings data on Thursday, August 6th. The semiconductor company reported $1.93 earnings per share (EPS) for the quarter, topping 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 company had revenue of $343.13 million for the quarter, compared to analyst estimates of $325.29 million. During the same quarter last year, the company posted $1.25 earnings per share. The business’s quarterly revenue was up 35.3% compared to the same quarter last year. Onto Innovation has set its Q3 2026 guidance at 2.180-2.380 EPS. As a group, sell-side analysts anticipate that Onto Innovation will post 7.88 EPS for the current year.

Institutional Investors Weigh In On Onto Innovation

Institutional investors have recently made changes to their positions in the stock. Fiduciary Financial Advisors acquired a new position in shares of Onto Innovation during the 2nd quarter worth $25,000. Root Financial Partners LLC lifted its stake in shares of Onto Innovation by 71.2% in the fourth quarter. Root Financial Partners LLC now owns 178 shares of the semiconductor company’s stock valued at $28,000 after purchasing an additional 74 shares during the period. Transamerica Financial Advisors LLC boosted its holdings in Onto Innovation by 188.5% during the fourth quarter. Transamerica Financial Advisors LLC now owns 176 shares of the semiconductor company’s stock worth $28,000 after buying an additional 115 shares in the last quarter. Millstone Evans Group LLC grew its position in Onto Innovation by 147.8% during the first quarter. Millstone Evans Group LLC now owns 166 shares of the semiconductor company’s stock worth $34,000 after buying an additional 99 shares during the period. Finally, CoreCap Advisors LLC purchased a new position in Onto Innovation in the second quarter valued at about $38,000. 98.35% of the stock is currently owned by hedge funds and other 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.