Onto Innovation (NYSE:ONTO) Updates Q3 2026 Earnings Guidance

Onto Innovation (NYSE:ONTO) issued an update on its third quarter 2026 earnings guidance on Thursday. The company provided EPS guidance of 2.180-2.380 for the period, compared to the consensus estimate of 1.930. The company issued revenue guidance of $380.0 million-$400.0 million, compared to the consensus revenue estimate of $351.8 million.

Onto Innovation Stock Up 14.5%

ONTO stock opened at $307.78 on Friday. The company has a market capitalization of $15.31 billion, a P/E ratio of 115.71, a PEG ratio of 1.10 and a beta of 1.59. The company has a 50-day simple moving average of $297.04 and a 200 day simple moving average of $256.05. Onto Innovation has a fifty-two week low of $93.50 and a fifty-two week high of $386.46.

Onto Innovation (NYSE:ONTO) last released its earnings results on Thursday, August 6th. The semiconductor company reported $1.93 EPS for the quarter, beating the consensus estimate of $1.69 by $0.24. The firm had revenue of $343.13 million for the quarter, compared to analysts’ expectations of $325.29 million. Onto Innovation had a net margin of 11.84% and a return on equity of 13.19%. Onto Innovation’s quarterly revenue was up 35.3% on a year-over-year basis. During the same quarter last year, the company earned $1.25 EPS. Onto Innovation has set its Q3 2026 guidance at 2.180-2.380 EPS. Equities analysts anticipate that Onto Innovation will post 7.14 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts have issued reports on ONTO shares. B. Riley Financial reaffirmed a “buy” rating on shares of Onto Innovation in a research note on Friday. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Onto Innovation in a research note on Friday, July 24th. Stifel Nicolaus set a $350.00 price target on shares of Onto Innovation and gave the stock a “buy” rating in a research report on Friday, April 17th. Morgan Stanley restated an “overweight” rating and set a $383.00 price objective on shares of Onto Innovation in a research report on Friday. Finally, Wall Street Zen lowered shares of Onto Innovation from a “buy” rating to a “hold” rating in a research report on Saturday, August 1st. Two analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $378.11.

Key Stories Impacting Onto Innovation

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

• Positive Sentiment: Q2 results beat expectations: Onto reported adjusted earnings of $1.93 per share versus the $1.69 consensus estimate, while revenue reached a record $343.1 million, up 35.3% year over year and above the $325.3 million expected. Profitability also improved, with gross profit up 50.1% and operating profit nearly doubling. Onto Innovation earnings report
• Positive Sentiment: Raised outlook significantly: Third-quarter EPS guidance of $2.18-$2.38 and revenue guidance of $380 million-$400 million are well above Wall Street estimates of $1.93 and $351.8 million, respectively. The stronger forecast supports expectations for accelerating near-term growth. Onto Innovation second-quarter results
• Positive Sentiment: AI and advanced packaging demand remain strong: Management said backlog exceeded $1.1 billion, with orders extending into 2027. Demand for advanced packaging equipment tied to AI chip production is strengthening the company’s visibility and second-half outlook. ONTO Q2 earnings call highlights
• Positive Sentiment: Analyst confidence increased: Needham raised its price target from $330 to $360 and maintained a Buy rating, reinforcing the positive reaction to the earnings and guidance. Analyst price target update
• Positive Sentiment: Industrywide catalyst: A proposed Tesla-SpaceX “Terafab” chip-manufacturing buildout could increase long-term demand for semiconductor inspection and metrology equipment from Onto and other suppliers. Tesla-SpaceX Terafab chip equipment outlook

Institutional Investors Weigh In On Onto Innovation

Large investors have recently added to or reduced their stakes in the stock. UMB Bank n.a. increased its position in Onto Innovation by 48.5% in the 4th quarter. UMB Bank n.a. now owns 713 shares of the semiconductor company’s stock worth $113,000 after buying an additional 233 shares during the period. Smartleaf Asset Management LLC raised its stake 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 purchasing an additional 92 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its position in shares of Onto Innovation by 1,446.0% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 773 shares of the semiconductor company’s stock valued at $122,000 after buying an additional 723 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in Onto Innovation during the third quarter worth about $80,000. Finally, iSAM Funds UK Ltd acquired a new position in shares of Onto Innovation in the third quarter valued at $85,000. 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.