Royal Bank Of Canada Begins Coverage on Onto Innovation (NYSE:ONTO)

Research analysts at Royal Bank Of Canada initiated coverage on shares of Onto Innovation (NYSE:ONTO) in a research report issued on Friday, Marketbeat Ratings reports. The firm set an “outperform” rating and a $400.00 price target on the semiconductor company’s stock. Royal Bank Of Canada’s target price would suggest a potential upside of 22.74% from the stock’s current price.

A number of other equities analysts have also recently weighed in on ONTO. Oppenheimer boosted their price target on Onto Innovation from $370.00 to $450.00 and gave the stock an “outperform” rating in a report on Monday, June 22nd. Needham & Company LLC upped their price objective on Onto Innovation from $330.00 to $360.00 and gave the stock a “buy” rating in a report on Friday, August 7th. Jefferies Financial Group raised their target price on Onto Innovation from $350.00 to $400.00 and gave the company a “buy” rating in a research note on Friday, August 7th. Wall Street Zen raised Onto Innovation from a “hold” rating to a “buy” rating in a report on Sunday, August 9th. Finally, Weiss Ratings upgraded shares of Onto Innovation from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, August 21st. Two research 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 company’s stock. According to MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $380.00.

Onto Innovation Price Performance

Onto Innovation stock traded down $1.87 during trading hours on Friday, hitting $325.90. The stock had a trading volume of 494,034 shares, compared to its average volume of 1,046,928. Onto Innovation has a 1-year low of $118.97 and a 1-year high of $386.46. The stock has a market capitalization of $15.99 billion, a price-to-earnings ratio of 122.52, a PEG ratio of 1.07 and a beta of 1.58. The stock’s fifty day moving average is $282.63 and its two-hundred day moving average is $278.59. The company has a debt-to-equity ratio of 0.77, a current ratio of 9.73 and a quick ratio of 8.33.

Onto Innovation (NYSE:ONTO) last released 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 for the quarter, compared to analyst estimates 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 earned $1.25 EPS. Onto Innovation has set its Q3 2026 guidance at 2.180-2.380 EPS. As a group, analysts predict that Onto Innovation will post 8.04 earnings per share for the current fiscal year.

Insider Activity at Onto Innovation

In related news, Director David Miller sold 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 29th. The shares were sold at an average price of $300.00, for a total transaction of $600,000.00. Following the completion of the sale, the director directly owned 10,692 shares in the company, valued at approximately $3,207,600. This trade represents a 15.76% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Susan Lynch sold 1,000 shares of Onto Innovation stock in a transaction that occurred 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 completion of the transaction, the director owned 2,684 shares in the company, 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 owned by corporate insiders.

Hedge Funds Weigh In On Onto Innovation

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ONTO. Andar Capital Management HK Ltd acquired a new stake in Onto Innovation during the 2nd quarter valued at $69,000,000. BlackRock Inc. acquired a new position in Onto Innovation during the second quarter valued at $2,083,436,000. Franklin Resources Inc. lifted its stake in Onto Innovation by 21.4% in the 4th quarter. Franklin Resources Inc. now owns 1,353,001 shares of the semiconductor company’s stock worth $213,585,000 after acquiring an additional 238,500 shares in the last quarter. Paradigm Capital Management Inc. NY acquired a new stake in Onto Innovation during the 2nd quarter worth about $416,839,000. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Onto Innovation by 4.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 677,502 shares of the semiconductor company’s stock valued at $138,898,000 after purchasing an additional 28,137 shares during the period. Institutional investors and hedge funds own 98.35% of the company’s stock.

Onto Innovation Company Profile

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.