Wall Street Zen upgraded shares of Onto Innovation (NYSE:ONTO – Free Report) from a hold rating to a buy rating in a report released on Sunday morning.
Several other brokerages have also recently issued reports on ONTO. Zacks Research raised Onto Innovation from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 14th. Evercore reissued an “outperform” rating and issued a $390.00 target price on shares of Onto Innovation in a report on Friday. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Onto Innovation in a research report on Friday, June 5th. They issued a “buy” rating and a $350.00 price target on the stock. Jefferies Financial Group increased their price objective on shares of Onto Innovation from $350.00 to $400.00 and gave the company a “buy” rating in a research report on Friday. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Onto Innovation in a research note on Friday, July 24th. Two investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, Onto Innovation has a consensus rating of “Buy” and an average price target of $378.11.
Check Out Our Latest Report on ONTO
Onto Innovation Trading Down 0.2%
Onto Innovation (NYSE:ONTO – Get Free Report) last announced its quarterly earnings results on Thursday, August 6th. The semiconductor company reported $1.93 EPS for the quarter, beating analysts’ consensus estimates of $1.69 by $0.24. The company had revenue of $343.13 million during the quarter, compared to analyst estimates of $325.29 million. Onto Innovation had a return on equity of 13.44% and a net margin of 11.84%.The firm’s revenue was up 35.3% on a year-over-year basis. During the same period in the prior year, the company earned $1.25 earnings per share. Onto Innovation has set its Q3 2026 guidance at 2.180-2.380 EPS. Equities research analysts predict that Onto Innovation will post 7.13 EPS for the current fiscal year.
Institutional Trading of Onto Innovation
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. NewEdge Advisors LLC increased its position in Onto Innovation by 312.5% during the first quarter. NewEdge Advisors LLC now owns 4,121 shares of the semiconductor company’s stock valued at $500,000 after acquiring an additional 3,122 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of Onto Innovation by 76.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 482,256 shares of the semiconductor company’s stock worth $58,517,000 after acquiring an additional 208,907 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Onto Innovation by 8.8% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 163,259 shares of the semiconductor company’s stock worth $19,810,000 after acquiring an additional 13,175 shares during the last quarter. Cetera Investment Advisers boosted its stake in shares of Onto Innovation by 6.3% during the 2nd quarter. Cetera Investment Advisers now owns 4,017 shares of the semiconductor company’s stock worth $405,000 after purchasing an additional 238 shares during the period. Finally, Russell Investments Group Ltd. boosted its stake in shares of Onto Innovation by 182.4% during the 2nd quarter. Russell Investments Group Ltd. now owns 6,631 shares of the semiconductor company’s stock worth $666,000 after purchasing an additional 4,283 shares during the period. Hedge funds and other institutional investors own 98.35% of the company’s stock.
Key Onto Innovation News
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
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.
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