Onto Innovation Inc. (NYSE:ONTO) Sees Significant Drop in Short Interest

Onto Innovation Inc. (NYSE:ONTO) saw a large decline in short interest during the month of December. As of December 31st, there was short interest totaling 1,295,151 shares, a decline of 23.8% from the December 15th total of 1,698,806 shares. Approximately 2.7% of the company’s shares are sold short. Based on an average daily volume of 605,527 shares, the days-to-cover ratio is currently 2.1 days. Based on an average daily volume of 605,527 shares, the days-to-cover ratio is currently 2.1 days. Approximately 2.7% of the company’s shares are sold short.

Analyst Ratings Changes

A number of analysts have recently issued reports on ONTO shares. Needham & Company LLC raised their price target on shares of Onto Innovation from $150.00 to $200.00 and gave the stock a “buy” rating in a report on Tuesday, January 6th. Evercore ISI increased their price objective on Onto Innovation from $115.00 to $160.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 4th. B. Riley raised their target price on Onto Innovation from $180.00 to $240.00 and gave the stock a “buy” rating in a research note on Thursday. Cantor Fitzgerald restated a “neutral” rating and issued a $170.00 target price on shares of Onto Innovation in a research report on Tuesday, December 16th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Onto Innovation in a research note on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have given a Hold rating to the company. According to MarketBeat, Onto Innovation currently has a consensus rating of “Moderate Buy” and a consensus target price of $186.25.

Onto Innovation Stock Up 1.2%

NYSE ONTO traded up $2.59 on Monday, reaching $220.44. The stock had a trading volume of 930,891 shares, compared to its average volume of 653,550. The stock has a fifty day moving average price of $159.57 and a two-hundred day moving average price of $131.24. Onto Innovation has a 12-month low of $85.88 and a 12-month high of $228.42. The firm has a market capitalization of $10.80 billion, a price-to-earnings ratio of 62.27, a P/E/G ratio of 1.22 and a beta of 1.46.

Onto Innovation (NYSE:ONTO) last released its quarterly earnings results on Thursday, November 6th. The semiconductor company reported $0.92 EPS for the quarter, topping the consensus estimate of $0.89 by $0.03. The business had revenue of $218.19 million during the quarter, compared to analyst estimates of $220.23 million. Onto Innovation had a return on equity of 13.11% and a net margin of 17.46%.The company’s quarterly revenue was down 13.5% on a year-over-year basis. During the same period last year, the business posted $1.34 earnings per share. Onto Innovation has set its Q4 2025 guidance at 1.180-1.330 EPS. Sell-side analysts forecast that Onto Innovation will post 6.26 earnings per share for the current fiscal year.

Institutional Trading of Onto Innovation

Hedge funds have recently made changes to their positions in the business. Westside Investment Management Inc. boosted its stake in shares of Onto Innovation by 100.0% in the third quarter. Westside Investment Management Inc. now owns 198 shares of the semiconductor company’s stock valued at $27,000 after purchasing an additional 99 shares during the period. Blue Trust Inc. lifted its holdings in Onto Innovation by 2,061.5% during the 3rd quarter. Blue Trust Inc. now owns 281 shares of the semiconductor company’s stock worth $36,000 after buying an additional 268 shares in the last quarter. Harbor Investment Advisory LLC purchased a new position in Onto Innovation in the 3rd quarter valued at approximately $37,000. Danske Bank A S purchased a new position in Onto Innovation in the 3rd quarter valued at approximately $39,000. Finally, Farther Finance Advisors LLC grew its stake in shares of Onto Innovation by 76.8% in the third quarter. Farther Finance Advisors LLC now owns 320 shares of the semiconductor company’s stock worth $41,000 after acquiring an additional 139 shares in the last quarter. Institutional investors and hedge funds own 98.35% of the company’s stock.

About Onto Innovation

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.