Onto Innovation (NYSE:ONTO) Shares Gap Up – Time to Buy?

Shares of Onto Innovation Inc. (NYSE:ONTO) gapped up prior to trading on Thursday . The stock had previously closed at $258.90, but opened at $288.00. Onto Innovation shares last traded at $270.8510, with a volume of 279,408 shares trading hands.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on ONTO. B. Riley Financial lifted their target price on Onto Innovation from $275.00 to $310.00 and gave the company a “buy” rating in a research note on Monday. Weiss Ratings reiterated a “hold (c)” rating on shares of Onto Innovation in a research report on Thursday, January 22nd. Stifel Nicolaus set a $220.00 price objective on Onto Innovation in a report on Friday, February 20th. Cantor Fitzgerald increased their price objective on Onto Innovation from $275.00 to $300.00 and gave the stock an “overweight” rating in a report on Monday, April 6th. Finally, Needham & Company LLC increased their price objective on Onto Innovation from $260.00 to $275.00 and gave the stock a “buy” rating in a report on Friday, February 20th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Onto Innovation has an average rating of “Moderate Buy” and a consensus price target of $260.00.

Onto Innovation Stock Performance

The firm has a market capitalization of $13.33 billion, a P/E ratio of 96.73, a price-to-earnings-growth ratio of 1.36 and a beta of 1.47. The business has a fifty day moving average of $213.91 and a 200-day moving average of $177.14.

Onto Innovation (NYSE:ONTO) last issued its quarterly earnings data on Thursday, February 19th. The semiconductor company reported $1.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.28 by ($0.02). Onto Innovation had a return on equity of 12.20% and a net margin of 13.60%.The business had revenue of $266.87 million during the quarter, compared to the consensus estimate of $265.78 million. During the same period last year, the company earned $1.51 earnings per share. The business’s quarterly revenue was up 1.1% compared to the same quarter last year. Onto Innovation has set its Q1 2026 guidance at 1.260-1.360 EPS. On average, equities research analysts forecast that Onto Innovation Inc. will post 6.26 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Onto Innovation

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ONTO. Wellington Management Group LLP raised its holdings in Onto Innovation by 1,217.0% during the third quarter. Wellington Management Group LLP now owns 1,398,995 shares of the semiconductor company’s stock worth $180,778,000 after purchasing an additional 1,292,772 shares in the last quarter. William Blair Investment Management LLC raised its holdings in Onto Innovation by 80.3% during the third quarter. William Blair Investment Management LLC now owns 1,981,761 shares of the semiconductor company’s stock worth $256,083,000 after purchasing an additional 882,901 shares in the last quarter. Voya Investment Management LLC raised its holdings in Onto Innovation by 4,494.6% during the third quarter. Voya Investment Management LLC now owns 868,607 shares of the semiconductor company’s stock worth $111,974,000 after purchasing an additional 849,702 shares in the last quarter. Norges Bank bought a new stake in Onto Innovation during the fourth quarter worth approximately $104,938,000. Finally, Jennison Associates LLC raised its holdings in Onto Innovation by 1,293.5% during the fourth quarter. Jennison Associates LLC now owns 680,822 shares of the semiconductor company’s stock worth $107,475,000 after purchasing an additional 631,965 shares in the last quarter. Institutional investors 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.