Onto Innovation (NYSE:ONTO) Stock Falls 6.7% – Time to Sell?

Onto Innovation Inc. (NYSE:ONTO)’s stock price was down 6.7% during mid-day trading on Thursday. The stock traded as low as $220.22 and last traded at $225.1440. Approximately 577,304 shares were traded during mid-day trading, a decline of 45% from the average session volume of 1,046,059 shares. The stock had previously closed at $241.41.

Analyst Upgrades and Downgrades

ONTO has been the subject of a number of analyst reports. Royal Bank Of Canada started coverage on shares of Onto Innovation in a research note on Friday, October 2nd. They set an “outperform” rating and a $400.00 price target for the company. Jefferies Financial Group lifted their price objective on Onto Innovation from $350.00 to $400.00 and gave the company a “buy” rating in a report on Friday, August 7th. Weiss Ratings upgraded Onto Innovation from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, August 21st. Zacks Research upgraded Onto Innovation from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 14th. Finally, Oppenheimer increased their target price on Onto Innovation from $370.00 to $450.00 and gave the stock an “outperform” rating in a report on Monday, June 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $380.00.

Onto Innovation Stock Performance

The company has a market capitalization of $11.11 billion, a P/E ratio of 85.21, a PEG ratio of 0.86 and a beta of 1.58. The stock has a fifty day simple moving average of $287.53 and a 200-day simple moving average of $283.15. The company has a quick ratio of 8.33, a current ratio of 9.73 and a debt-to-equity ratio of 0.77.

Onto Innovation (NYSE:ONTO) last issued its earnings results on Thursday, August 6th. The semiconductor company reported $1.93 EPS for the quarter, beating the consensus estimate of $1.69 by $0.24. Onto Innovation had a net margin of 11.84% and a return on equity of 13.44%. The company had revenue of $343.13 million for the quarter, compared to the consensus estimate of $325.29 million. During the same quarter in the previous year, the company earned $1.25 EPS. The firm’s revenue for the quarter was up 35.3% compared to the same quarter last year. Onto Innovation has set its Q3 2026 guidance at 2.180-2.380 EPS. Equities analysts forecast that Onto Innovation Inc. will post 8.04 EPS for the current year.

Insider Transactions at Onto Innovation

In other Onto Innovation news, Director David Miller sold 2,000 shares of the business’s stock in a transaction dated Tuesday, September 29th. The shares were sold at an average price of $300.00, for a total value of $600,000.00. Following the transaction, the director directly owned 10,692 shares in the company, valued at $3,207,600. The trade was a 15.76% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Susan D. Lynch sold 1,000 shares of the business’s stock in a transaction dated Friday, August 21st. The shares were 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 ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.51% of the company’s stock.

Institutional Trading of Onto Innovation

Several hedge funds have recently modified their holdings of the company. Allworth Financial LP boosted its holdings in shares of Onto Innovation by 3.9% in the 2nd quarter. Allworth Financial LP now owns 987 shares of the semiconductor company’s stock worth $374,000 after acquiring an additional 37 shares in the last quarter. Everhart Financial Group Inc. grew its position in Onto Innovation by 6.6% during the 3rd quarter. Everhart Financial Group Inc. now owns 722 shares of the semiconductor company’s stock worth $222,000 after acquiring an additional 45 shares during the last quarter. Parallel Advisors LLC grew its position in Onto Innovation by 16.5% during the 1st quarter. Parallel Advisors LLC now owns 395 shares of the semiconductor company’s stock worth $81,000 after acquiring an additional 56 shares during the last quarter. Kestra Advisory Services LLC increased its holdings in Onto Innovation by 4.9% during the 1st quarter. Kestra Advisory Services LLC now owns 1,368 shares of the semiconductor company’s stock valued at $281,000 after purchasing an additional 64 shares in the last quarter. Finally, Highland Investment Advisors LLC acquired a new stake in Onto Innovation during the 2nd quarter valued at $25,000. 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.