Onto Innovation (NYSE:ONTO) Price Target Raised to $360.00 at Needham & Company LLC

Onto Innovation (NYSE:ONTO) had its target price lifted by equities researchers at Needham & Company LLC from $330.00 to $360.00 in a report released on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the semiconductor company’s stock. Needham & Company LLC’s target price would suggest a potential upside of 16.20% from the company’s previous close.

A number of other research analysts have also weighed in on the stock. B. Riley Financial lifted their price target on shares of Onto Innovation from $275.00 to $310.00 and gave the company a “buy” rating in a research note on Monday, April 13th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Onto Innovation in a research note on Friday, June 5th. They issued a “buy” rating and a $350.00 target price for the company. Weiss Ratings reiterated a “hold (c)” rating on shares of Onto Innovation in a report on Friday, July 24th. Cantor Fitzgerald lifted their price target on Onto Innovation from $350.00 to $410.00 and gave the company an “overweight” rating in a research note on Monday, June 29th. Finally, Zacks Research upgraded Onto Innovation from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 14th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $347.60.

Onto Innovation Stock Up 15.3%

Shares of ONTO stock opened at $309.82 on Friday. Onto Innovation has a 12-month low of $93.50 and a 12-month high of $386.46. The firm has a market capitalization of $15.41 billion, a price-to-earnings ratio of 142.91, a price-to-earnings-growth ratio of 1.13 and a beta of 1.59. The firm has a fifty day moving average of $296.05 and a 200-day moving average of $255.68.

Onto Innovation (NYSE:ONTO) last announced its quarterly earnings results on Thursday, August 6th. The semiconductor company reported $1.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.69 by $0.24. Onto Innovation had a return on equity of 11.68% and a net margin of 10.32%.The company had revenue of $343.13 million during the quarter, compared to the consensus estimate of $325.29 million. During the same period in the prior year, the company earned $1.25 earnings per share. The company’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. Research analysts expect that Onto Innovation will post 7.14 earnings per share for the current year.

Institutional Investors Weigh In On Onto Innovation

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Root Financial Partners LLC boosted its stake in shares of Onto Innovation by 71.2% during the 4th quarter. Root Financial Partners LLC now owns 178 shares of the semiconductor company’s stock worth $28,000 after buying an additional 74 shares during the last quarter. Transamerica Financial Advisors LLC raised its holdings in Onto Innovation by 188.5% during the fourth quarter. Transamerica Financial Advisors LLC now owns 176 shares of the semiconductor company’s stock worth $28,000 after acquiring an additional 115 shares in the last quarter. Millstone Evans Group LLC raised its holdings in Onto Innovation by 147.8% during the first quarter. Millstone Evans Group LLC now owns 166 shares of the semiconductor company’s stock worth $34,000 after acquiring an additional 99 shares in the last quarter. CoreCap Advisors LLC acquired a new position in Onto Innovation during the second quarter valued at approximately $38,000. Finally, CIBC Private Wealth Group LLC boosted its position in Onto Innovation by 109.4% during the fourth quarter. CIBC Private Wealth Group LLC now owns 245 shares of the semiconductor company’s stock valued at $39,000 after purchasing an additional 128 shares during the last quarter. 98.35% of the stock is owned by institutional investors.

Onto Innovation Company Profile

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.