Onto Innovation (NYSE:ONTO) Shares Climb 6.9% – What’s Next?

Onto Innovation Inc. (NYSE:ONTO)’s stock price rose 6.9% during trading on Friday. The company traded as high as $338.35 and last traded at $336.5220. Approximately 120,401 shares changed hands during trading, a decline of 88% from the average session volume of 1,044,836 shares. The stock had previously closed at $314.88.

Analyst Ratings Changes

ONTO has been the topic of several analyst reports. Oppenheimer lifted their price target on shares of Onto Innovation from $370.00 to $450.00 and gave the stock an “outperform” rating in a report on Monday, June 22nd. Wall Street Zen raised Onto Innovation from a “hold” rating to a “buy” rating in a research report on Sunday, August 9th. Evercore restated an “outperform” rating and set a $390.00 target price on shares of Onto Innovation in a research note on Friday, August 7th. Weiss Ratings raised Onto Innovation from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, August 21st. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on Onto Innovation in a research note on Friday, June 5th. They issued a “buy” rating and a $350.00 price target for the company. Two investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $380.00.

Onto Innovation Price Performance

The company has a debt-to-equity ratio of 0.77, a quick ratio of 8.33 and a current ratio of 9.73. The firm has a market cap of $16.37 billion, a price-to-earnings ratio of 125.00, a price-to-earnings-growth ratio of 1.01 and a beta of 1.58. The stock’s 50 day simple moving average is $281.52 and its 200-day simple moving average is $277.65.

Onto Innovation (NYSE:ONTO) last posted its quarterly earnings data on Thursday, August 6th. The semiconductor company reported $1.93 EPS for the quarter, topping the consensus estimate of $1.69 by $0.24. The business had revenue of $343.13 million during the quarter, compared to the consensus estimate of $325.29 million. Onto Innovation had a net margin of 11.84% and a return on equity of 13.44%. The business’s revenue for the quarter was up 35.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.25 earnings per share. Onto Innovation has set its Q3 2026 guidance at 2.180-2.380 EPS. Equities research analysts anticipate that Onto Innovation Inc. will post 8.04 EPS for the current fiscal year.

Insider Activity

In other news, Director David Miller sold 2,000 shares of the stock in a transaction on Tuesday, September 29th. The shares were sold at an average price of $300.00, for a total value of $600,000.00. Following the sale, the director owned 10,692 shares in the company, valued at $3,207,600. This represents a 15.76% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through 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 firm’s stock in a transaction on Friday, August 21st. The stock was sold at an average price of $302.30, for a total transaction of $302,300.00. Following the transaction, the director directly owned 2,684 shares of the company’s stock, valued at approximately $811,373.20. This trade represents a 27.14% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.51% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Onto Innovation

Several institutional investors and hedge funds have recently modified their holdings of ONTO. Versant Capital Management Inc boosted its position in Onto Innovation by 27.4% in the 3rd quarter. Versant Capital Management Inc now owns 469 shares of the semiconductor company’s stock worth $144,000 after purchasing an additional 101 shares in the last quarter. QRG Capital Management Inc. grew its stake in shares of Onto Innovation by 21.9% during the 2nd quarter. QRG Capital Management Inc. now owns 1,202 shares of the semiconductor company’s stock worth $455,000 after purchasing an additional 216 shares during the period. Sequoia Financial Advisors LLC increased its holdings in shares of Onto Innovation by 14.1% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 21,878 shares of the semiconductor company’s stock valued at $8,280,000 after purchasing an additional 2,702 shares in the last quarter. Baird Financial Group Inc. increased its holdings in shares of Onto Innovation by 8.5% during the 2nd quarter. Baird Financial Group Inc. now owns 66,489 shares of the semiconductor company’s stock valued at $25,163,000 after purchasing an additional 5,227 shares in the last quarter. Finally, Allworth Financial LP lifted its stake in shares of Onto Innovation by 3.9% in the 2nd quarter. Allworth Financial LP now owns 987 shares of the semiconductor company’s stock valued at $374,000 after purchasing an additional 37 shares during the period. Institutional investors and hedge funds own 98.35% of the company’s stock.

About Onto Innovation

Onto Innovation Inc (NYSE: ONTO) develops process control, inspection, metrology and lithography solutions for the semiconductor and advanced packaging industries. Its technologies help chip manufacturers monitor and control production processes, identify defects and improve yields during the fabrication of integrated circuits and other electronic components.

The company’s product portfolio includes optical and materials metrology systems, wafer and macro-defect inspection equipment, lithography systems, software and data-analysis tools, and solutions for semiconductor packaging and related applications.