Onto Innovation (NYSE:ONTO) Shares Gap Down – Time to Sell?

Onto Innovation Inc. (NYSE:ONTO)’s share price gapped down prior to trading on Thursday. The stock had previously closed at $222.14, but opened at $205.38. Onto Innovation shares last traded at $203.6110, with a volume of 95,114 shares traded.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on ONTO shares. Jefferies Financial Group upped their price target 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 raised shares of Onto Innovation from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, August 21st. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Onto Innovation in a research report on Tuesday. Needham & Company LLC lifted their price target on shares of Onto Innovation from $330.00 to $360.00 and gave the company a “buy” rating in a report on Friday, August 7th. Finally, B. Riley Financial restated a “buy” rating on shares of Onto Innovation in a research report on Friday, August 7th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, Onto Innovation has an average rating of “Buy” and a consensus price target of $380.00.

Onto Innovation Trading Down 0.2%

The stock has a fifty day moving average price of $273.94 and a 200 day moving average price of $283.09. The stock has a market cap of $9.72 billion, a PE ratio of 74.50, a PEG ratio of 0.65 and a beta of 1.58. The company has a debt-to-equity ratio of 0.77, a quick ratio of 8.33 and a current ratio of 9.73.

Onto Innovation (NYSE:ONTO) last posted its quarterly earnings data on Thursday, August 6th. The semiconductor company reported $1.93 earnings per share for the quarter, beating analysts’ consensus estimates of $1.69 by $0.24. The business had revenue of $343.13 million for the quarter, compared to analysts’ expectations 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 was up 35.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.25 earnings per share. Onto Innovation has set its Q3 2026 guidance at 2.180-2.380 EPS. Equities analysts expect that Onto Innovation Inc. will post 8.04 EPS for the current year.

Insider Buying and Selling at Onto Innovation

In related news, Director Susan Lynch sold 1,000 shares of the company’s stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $302.30, for a total value of $302,300.00. Following the completion of the sale, the director directly owned 2,684 shares of the company’s stock, valued at $811,373.20. This represents a 27.14% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director David Miller sold 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 29th. The stock was sold at an average price of $300.00, for a total transaction of $600,000.00. Following the completion of the transaction, the director directly owned 10,692 shares of the company’s stock, valued at $3,207,600. This trade represents a 15.76% 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. Company insiders own 0.51% of the company’s stock.

Hedge Funds Weigh In On Onto Innovation

Several hedge funds and other institutional investors have recently bought and sold shares of ONTO. Allworth Financial LP raised its position in Onto Innovation by 3.9% in the 2nd quarter. Allworth Financial LP now owns 987 shares of the semiconductor company’s stock valued at $374,000 after purchasing an additional 37 shares during the last quarter. Everhart Financial Group Inc. raised its stake in Onto Innovation by 6.6% during the 3rd quarter. Everhart Financial Group Inc. now owns 722 shares of the semiconductor company’s stock valued at $222,000 after acquiring an additional 45 shares during the last quarter. Parallel Advisors LLC lifted 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 period. Kestra Advisory Services LLC increased its holdings in shares of Onto Innovation by 4.9% in the first 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 during the period. Finally, Highland Investment Advisors LLC purchased a new stake in shares of Onto Innovation during the second quarter worth approximately $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 and inspection equipment used by semiconductor manufacturers and advanced packaging companies. Its products help customers monitor, measure and improve manufacturing processes throughout the production of integrated circuits, wafers and packaged semiconductor devices.

The company offers optical metrology systems, wafer and macro-defect inspection tools, advanced packaging inspection and metrology solutions, lithography systems, and process control software.