Onto Innovation (NYSE:ONTO) Now Covered by Analysts at Evercore

Evercore assumed coverage on shares of Onto Innovation (NYSE:ONTO) in a research report released on Tuesday,Zacks reports. The firm issued a strong-buy rating on the semiconductor company’s stock.

ONTO has been the subject of several other research reports. B. Riley Financial dropped their target price on shares of Onto Innovation from $340.00 to $285.00 and set a “buy” rating for the company in a report on Monday. Royal Bank Of Canada lowered their price objective on Onto Innovation from $400.00 to $350.00 and set an “outperform” rating on the stock in a research report on Tuesday. Weiss Ratings raised Onto Innovation from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, August 21st. The Goldman Sachs Group began coverage on Onto Innovation in a research note on Monday, August 17th. They issued a “buy” rating and a $400.00 price objective for the company. Finally, Morgan Stanley cut their target price on Onto Innovation from $360.00 to $325.00 and set an “overweight” rating for the company in a research report on Tuesday. Two equities research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, Onto Innovation currently has a consensus rating of “Buy” and a consensus price target of $354.55.

Onto Innovation Price Performance

NYSE ONTO opened at $197.41 on Tuesday. The company has a current ratio of 9.73, a quick ratio of 8.33 and a debt-to-equity ratio of 0.77. Onto Innovation has a 12 month low of $121.57 and a 12 month high of $386.46. The stock has a market cap of $9.69 billion, a price-to-earnings ratio of 64.94, a PEG ratio of 0.63 and a beta of 1.66. The company’s 50 day moving average is $250.73 and its two-hundred day moving average is $259.12.

Onto Innovation (NYSE:ONTO) last posted its quarterly earnings results on Monday, November 9th. The semiconductor company reported $2.44 earnings per share for the quarter, topping analysts’ consensus estimates of $2.30 by $0.14. The business had revenue of $409.75 million during the quarter, compared to analyst estimates of $392.08 million. Onto Innovation had a net margin of 11.53% and a return on equity of 17.03%. The company’s revenue was up 87.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.92 earnings per share. As a group, research analysts anticipate that Onto Innovation will post 8.04 earnings per share for the current year.

Insider Activity at Onto Innovation

In other news, Director David Miller sold 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 29th. The stock was sold at an average price of $300.00, for a total transaction of $600,000.00. Following the sale, the director directly owned 10,692 shares of the company’s stock, valued at $3,207,600. This represents a 15.76% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Susan D. Lynch sold 1,000 shares of the stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $302.30, for a total value of $302,300.00. Following the transaction, the director owned 2,684 shares of the company’s stock, valued at $811,373.20. This represents a 27.14% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.51% of the company’s stock.

Hedge Funds Weigh In On Onto Innovation

Institutional investors and hedge funds have recently made changes to their positions in the business. Private Advisor Group LLC raised its position in shares of Onto Innovation by 87.8% during the 3rd quarter. Private Advisor Group LLC now owns 1,632 shares of the semiconductor company’s stock valued at $502,000 after buying an additional 763 shares in the last quarter. Independent Advisor Alliance grew its position in Onto Innovation by 4.8% in the third quarter. Independent Advisor Alliance now owns 2,084 shares of the semiconductor company’s stock worth $613,000 after acquiring an additional 96 shares in the last quarter. Stephens Investment Management Group LLC grew its position in Onto Innovation by 12.6% in the third quarter. Stephens Investment Management Group LLC now owns 208,900 shares of the semiconductor company’s stock worth $64,304,000 after acquiring an additional 23,423 shares in the last quarter. Brilliance Asset Management Ltd. bought a new stake in Onto Innovation during the third quarter worth approximately $698,000. Finally, HighTower Advisors LLC increased its stake in Onto Innovation by 9.7% during the third quarter. HighTower Advisors LLC now owns 4,470 shares of the semiconductor company’s stock worth $1,376,000 after acquiring an additional 397 shares during the last quarter. 98.35% of the stock is owned by hedge funds and other institutional investors.

Key Headlines Impacting Onto Innovation

Here are the key news stories impacting Onto Innovation this week:

• Positive Sentiment: Onto reported record Q3 revenue of about $410 million, up 88% year over year, and earnings of $2.44 per share. Both exceeded analyst expectations, and revenue, operating margin and EPS topped the high end of the company’s prior guidance. Onto Innovation Reports 2026 Third Quarter Results
• Positive Sentiment: Q4 guidance also came in above consensus: Onto forecast revenue of $430 million–$450 million and EPS of $2.59–$2.79, versus estimates of about $409.5 million and $2.47, respectively. Reports cited AI-related demand and a backlog exceeding $1.3 billion as growth supports. Q4 outlook and backlog
• Negative Sentiment: Several firms cut price targets: Jefferies and RBC lowered theirs to $350, Morgan Stanley to $325, and B. Riley to $285. Each retained a bullish rating, but the reductions signal more cautious valuation assumptions and could weigh on sentiment. Jefferies rating information

About Onto Innovation

Onto Innovation develops process-control and inspection solutions used in semiconductor manufacturing. Its products include metrology and inspection systems, lithography equipment, and software that help manufacturers monitor production processes and identify defects. The company serves producers of semiconductor devices, advanced packaging, and specialty components. Its technologies support applications ranging from traditional wafer fabrication to newer packaging methods used in complex chips.