Onto Innovation (NYSE:ONTO) Raised to “Strong-Buy” at Zacks Research

Onto Innovation (NYSE:ONTO) was upgraded by equities researchers at Zacks Research from a “hold” rating to a “strong-buy” rating in a research report issued to clients and investors on Wednesday,Zacks.com reports.

A number of other brokerages also recently commented on ONTO. Cantor Fitzgerald restated a “neutral” rating and issued a $170.00 target price on shares of Onto Innovation in a research note on Tuesday, December 16th. Weiss Ratings restated a “hold (c)” rating on shares of Onto Innovation in a research report on Wednesday, October 8th. Stifel Nicolaus lifted their target price on shares of Onto Innovation from $110.00 to $120.00 and gave the company a “hold” rating in a report on Monday, October 13th. Jefferies Financial Group boosted their target price on shares of Onto Innovation from $170.00 to $200.00 and gave the company a “buy” rating in a research note on Monday, December 15th. Finally, Needham & Company LLC restated a “buy” rating and set a $150.00 price target on shares of Onto Innovation in a research report on Tuesday, November 18th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $165.00.

Onto Innovation Stock Up 5.0%

Shares of NYSE:ONTO opened at $165.78 on Wednesday. Onto Innovation has a 52-week low of $85.88 and a 52-week high of $228.42. The stock has a market cap of $8.12 billion, a price-to-earnings ratio of 46.83, a PEG ratio of 0.89 and a beta of 1.46. The business has a 50-day moving average price of $145.83 and a 200-day moving average price of $123.24.

Onto Innovation (NYSE:ONTO) last posted its quarterly earnings results on Thursday, November 6th. The semiconductor company reported $0.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.89 by $0.03. The company had revenue of $218.19 million during the quarter, compared to analyst estimates of $220.23 million. Onto Innovation had a net margin of 17.46% and a return on equity of 13.11%. Onto Innovation’s revenue for the quarter was down 13.5% compared to the same quarter last year. During the same period last year, the firm posted $1.34 EPS. Onto Innovation has set its Q4 2025 guidance at 1.180-1.330 EPS. As a group, equities analysts anticipate that Onto Innovation will post 6.26 EPS for the current fiscal year.

Hedge Funds Weigh In On Onto Innovation

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Westside Investment Management Inc. increased its position in shares of Onto Innovation by 100.0% during the third quarter. Westside Investment Management Inc. now owns 198 shares of the semiconductor company’s stock worth $27,000 after purchasing an additional 99 shares in the last quarter. Blue Trust Inc. grew its holdings in shares of Onto Innovation by 2,061.5% during the third quarter. Blue Trust Inc. now owns 281 shares of the semiconductor company’s stock worth $36,000 after buying an additional 268 shares in the last quarter. Harbor Investment Advisory LLC acquired a new stake in shares of Onto Innovation in the third quarter valued at about $37,000. Danske Bank A S purchased a new position in shares of Onto Innovation in the third quarter worth about $39,000. Finally, Farther Finance Advisors LLC boosted its position in Onto Innovation by 76.8% during the third quarter. Farther Finance Advisors LLC now owns 320 shares of the semiconductor company’s stock worth $41,000 after acquiring an additional 139 shares during the last quarter. Hedge funds and other 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.