Onto Innovation (NYSE:ONTO) Raised to Buy at Wall Street Zen

Onto Innovation (NYSE:ONTO) was upgraded by equities researchers at Wall Street Zen from a “hold” rating to a “buy” rating in a note issued to investors on Sunday.

Other equities research analysts have also recently issued research reports about the company. Weiss Ratings restated a “hold (c)” rating on shares of Onto Innovation in a research note on Friday, July 24th. Jefferies Financial Group lifted their price objective on shares of Onto Innovation from $350.00 to $400.00 and gave the company a “buy” rating in a report on Friday. Cantor Fitzgerald lifted their price objective on shares of Onto Innovation from $350.00 to $410.00 and gave the company an “overweight” rating in a report on Monday, June 29th. Morgan Stanley reissued an “overweight” rating and issued a $383.00 price objective on shares of Onto Innovation in a research report on Friday. Finally, Stifel Nicolaus set a $350.00 target price on shares of Onto Innovation and gave the stock a “buy” rating in a report on Friday, April 17th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, Onto Innovation currently has an average rating of “Buy” and a consensus price target of $378.11.

Onto Innovation Price Performance

Shares of NYSE ONTO opened at $291.87 on Friday. The firm has a market cap of $14.32 billion, a PE ratio of 109.73, a PEG ratio of 1.26 and a beta of 1.59. The company has a current ratio of 9.73, a quick ratio of 8.33 and a debt-to-equity ratio of 0.77. Onto Innovation has a 1-year low of $101.00 and a 1-year high of $386.46. The company has a fifty day moving average price of $297.77 and a 200 day moving average price of $256.83.

Onto Innovation (NYSE:ONTO) last released its earnings results on Thursday, August 6th. The semiconductor company reported $1.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.69 by $0.24. Onto Innovation had a return on equity of 13.44% and a net margin of 11.84%.The firm had revenue of $343.13 million during the quarter, compared to analysts’ expectations of $325.29 million. During the same quarter in the prior year, the company earned $1.25 EPS. The company’s revenue was up 35.3% on a year-over-year basis. Onto Innovation has set its Q3 2026 guidance at 2.180-2.380 EPS. Research analysts predict that Onto Innovation will post 7.13 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Onto Innovation

Several large investors have recently made changes to their positions in ONTO. CoreCap Advisors LLC bought a new stake in Onto Innovation during the second quarter worth $38,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in shares of Onto Innovation in the second quarter valued at approximately $42,000. Harbor Investment Advisory LLC bought a new position in shares of Onto Innovation during the 2nd quarter worth approximately $47,000. Millstone Evans Group LLC boosted its stake in shares of Onto Innovation by 147.8% during the 1st quarter. Millstone Evans Group LLC now owns 166 shares of the semiconductor company’s stock worth $34,000 after acquiring an additional 99 shares during the period. Finally, Transamerica Financial Advisors LLC boosted its stake in shares of Onto Innovation by 188.5% during the 4th quarter. Transamerica Financial Advisors LLC now owns 176 shares of the semiconductor company’s stock worth $28,000 after acquiring an additional 115 shares during the period. 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.