Onto Innovation (NYSE:ONTO) Issues Quarterly Earnings Results, Beats Expectations By $0.14 EPS

Posted by Brenda Bartman on Nov 10th, 2026

Onto Innovation (NYSE:ONTO – Get Free Report) released its earnings results on Monday. The semiconductor company reported $2.44 EPS for the quarter, topping the consensus estimate of $2.30 by $0.14, FiscalAI reports. The business had revenue of $409.75 million during the quarter, compared to analysts’ expectations of $392.08 million. Onto Innovation had a return on equity of 13.44% and a net margin of 11.84%. The firm’s revenue was up 87.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.92 earnings per share.

Here are the key takeaways from Onto Innovation’s conference call:

Onto reported Q3 revenue of $410 million, up 19% sequentially and nearly 90% year over year, with EPS of $2.44. Gross margin reached a record 57.6% and operating margin was 32.6%, both above the company’s guidance.
The company raised Q4 revenue guidance to $430 million–$450 million and expects more than 45% full-year growth. Record backlog of over $1.3 billion supports management’s outlook for sequential revenue growth through at least the first half of 2027.
Advanced packaging revenue is expected to grow more than 80% in 2026, with momentum across 2.5D and HBM. Dragonfly G5 has reached more than 10 customers, and 2027 orders already represent twice its expected 2026 revenue.
Advanced-node revenue is on pace to grow over 35% in 2026, with management expecting faster growth in 2027, particularly in logic and DRAM. The company cited rapid Atlas G6 adoption and rising demand for in-die metrology as drivers.
Management said component and supply-chain cost pressures, including memory pricing, are weighing on margins, though operational efficiencies are helping offset them. Onto also recorded an approximately $40 million unrealized loss on its Rigaku investment in Q3, which affects GAAP results but is excluded from non-GAAP results.

Onto Innovation Price Performance

ONTO stock opened at $194.15 on Tuesday. The company has a debt-to-equity ratio of 0.77, a current ratio of 9.73 and a quick ratio of 8.33. The company’s 50-day moving average is $252.12 and its 200-day moving average is $259.19. The stock has a market capitalization of $9.53 billion, a PE ratio of 72.99, a price-to-earnings-growth ratio of 0.60 and a beta of 1.66. Onto Innovation has a 1 year low of $121.57 and a 1 year high of $386.46.

Analyst Ratings Changes

Several brokerages have issued reports on ONTO. Royal Bank Of Canada assumed coverage on Onto Innovation in a research note on Friday, October 2nd. They issued an “outperform” rating and a $400.00 price target on the stock. Morgan Stanley reduced their price objective on shares of Onto Innovation from $383.00 to $360.00 and set an “overweight” rating for the company in a research report on Tuesday, September 8th. Weiss Ratings upgraded shares of Onto Innovation from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, August 21st. Evercore reiterated an “outperform” rating and set a $390.00 target price on shares of Onto Innovation in a research report on Friday, August 7th. Finally, Jefferies Financial Group boosted their target price on shares of Onto Innovation from $350.00 to $400.00 and gave the company a “buy” rating in a research report on Friday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, Onto Innovation has an average rating of “Moderate Buy” and a consensus target price of $370.91.

Check Out Our Latest Report on ONTO

More Onto Innovation News

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

Positive Sentiment: Q3 revenue reached a record $409.8 million, up 87.8% year over year, while EPS of $2.44 topped analyst estimates of about $2.30. Revenue, operating margin and EPS also exceeded the high end of the company’s prior guidance. Onto Innovation Reports 2026 Third Quarter Results
Positive Sentiment: Management forecast Q4 revenue of $430 million to $450 million, and the company’s backlog exceeded $1.3 billion—signals of continued demand and revenue visibility. Onto Innovation outlines Q4 outlook and backlog
Negative Sentiment: B. Riley lowered its price target to $285 from $340, indicating a more cautious valuation view, but kept its Buy rating. B. Riley adjusts price target and maintains Buy rating

Insider Transactions at Onto Innovation

In other Onto Innovation news, Director Susan D. Lynch sold 1,000 shares of the stock in a transaction that occurred on Friday, August 21st. The stock was 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 in the company, valued at approximately $811,373.20. This represents a 27.14% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director David Miller sold 2,000 shares of the stock in a transaction that occurred on Tuesday, September 29th. The stock was sold at an average price of $300.00, for a total value of $600,000.00. Following the completion of the transaction, the director owned 10,692 shares in the company, valued at approximately $3,207,600. The trade was a 15.76% 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. Insiders own 0.51% of the company’s stock.

About Onto Innovation

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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.

Onto Innovation was formed in 2019 through the merger of Nanometrics and Rudolph Technologies.