Onto Innovation (NYSE:ONTO) Rating Increased to Strong-Buy at Zacks Research

Zacks Research upgraded shares of Onto Innovation (NYSE:ONTO) from a hold rating to a strong-buy rating in a research note published on Tuesday morning,Zacks.com reports. Zacks Research also issued estimates for Onto Innovation’s FY2028 earnings at $9.44 EPS.

Several other equities research analysts have also commented on the company. Morgan Stanley assumed coverage on Onto Innovation in a research note on Sunday, June 14th. They issued an “overweight” rating and a $371.00 price objective for the company. Oppenheimer lifted their target price on Onto Innovation from $370.00 to $450.00 and gave the company an “outperform” rating in a research report on Monday, June 22nd. Evercore restated an “outperform” rating and issued a $315.00 price target on shares of Onto Innovation in a research report on Friday, April 17th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $350.00 price objective on shares of Onto Innovation in a research note on Wednesday, May 6th. Finally, Cantor Fitzgerald lifted their price objective on Onto Innovation from $350.00 to $410.00 and gave the company an “overweight” rating in a research report on Monday, June 29th. Two analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, Onto Innovation has an average rating of “Buy” and a consensus target price of $339.60.

Onto Innovation Trading Down 4.5%

ONTO opened at $305.02 on Tuesday. The company’s 50 day moving average is $295.44 and its 200 day moving average is $245.67. The company has a market cap of $15.17 billion, a price-to-earnings ratio of 142.54, a PEG ratio of 1.30 and a beta of 1.55. Onto Innovation has a 12-month low of $89.40 and a 12-month high of $386.46.

Onto Innovation (NYSE:ONTO) last announced its earnings results on Tuesday, May 5th. The semiconductor company reported $1.42 EPS for the quarter, beating analysts’ consensus estimates of $1.38 by $0.04. Onto Innovation had a net margin of 10.32% and a return on equity of 11.68%. The business had revenue of $291.95 million during the quarter, compared to analysts’ expectations of $292.00 million. During the same period in the prior year, the company earned $1.51 earnings per share. The firm’s revenue was up 9.5% on a year-over-year basis. As a group, analysts predict that Onto Innovation will post 7.14 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Parallel Advisors LLC raised its stake in Onto Innovation by 16.5% during the 1st quarter. Parallel Advisors LLC now owns 395 shares of the semiconductor company’s stock valued at $81,000 after purchasing an additional 56 shares during the period. Kestra Advisory Services LLC boosted its stake in Onto Innovation by 4.9% in the 1st quarter. Kestra Advisory Services LLC now owns 1,368 shares of the semiconductor company’s stock worth $281,000 after purchasing an additional 64 shares during the period. Root Financial Partners LLC boosted its stake in Onto Innovation by 71.2% in the 4th quarter. Root Financial Partners LLC now owns 178 shares of the semiconductor company’s stock worth $28,000 after purchasing an additional 74 shares during the period. Smartleaf Asset Management LLC grew its holdings in Onto Innovation by 8.6% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,165 shares of the semiconductor company’s stock valued at $186,000 after buying an additional 92 shares in the last quarter. Finally, Millstone Evans Group LLC grew its holdings in Onto Innovation by 147.8% during the 1st quarter. Millstone Evans Group LLC now owns 166 shares of the semiconductor company’s stock valued at $34,000 after buying an additional 99 shares in the last quarter. 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.