Onto Innovation (NYSE:ONTO) Stock Price Down 8.2% – Here’s What Happened

Shares of Onto Innovation Inc. (NYSE:ONTO) fell 8.2% on Tuesday . The company traded as low as $323.05 and last traded at $322.3630. 117,234 shares were traded during trading, a decline of 89% from the average daily volume of 1,085,206 shares. The stock had previously closed at $351.16.

Analyst Upgrades and Downgrades

ONTO has been the subject of several analyst reports. B. Riley Financial reissued a “buy” rating on shares of Onto Innovation in a research report on Friday, August 7th. Jefferies Financial Group increased 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. Wall Street Zen upgraded Onto Innovation from a “hold” rating to a “buy” rating in a research note on Sunday, August 9th. Freedom Capital raised shares of Onto Innovation to a “strong-buy” rating in a report on Wednesday, June 17th. Finally, The Goldman Sachs Group started coverage on shares of Onto Innovation in a research report on Monday. They issued a “buy” rating and a $400.00 price target on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $380.30.

Onto Innovation Trading Down 5.1%

The company has a debt-to-equity ratio of 0.77, a quick ratio of 8.33 and a current ratio of 9.73. The stock has a fifty day moving average of $305.60 and a 200 day moving average of $262.54. The company has a market capitalization of $14.69 billion, a PE ratio of 112.52, a PEG ratio of 1.05 and a beta of 1.59.

Onto Innovation (NYSE:ONTO) last posted its earnings results on Thursday, August 6th. The semiconductor company reported $1.93 earnings per share for the quarter, beating the consensus estimate of $1.69 by $0.24. The company had revenue of $343.13 million during 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%. Onto Innovation’s quarterly revenue was up 35.3% on a year-over-year basis. During the same period last year, the company posted $1.25 earnings per share. Onto Innovation has set its Q3 2026 guidance at 2.180-2.380 EPS. As a group, sell-side analysts predict that Onto Innovation Inc. will post 7.88 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Onto Innovation

Institutional investors have recently bought and sold shares of the business. Parallel Advisors LLC lifted its holdings in shares of Onto Innovation by 16.5% in the 1st quarter. Parallel Advisors LLC now owns 395 shares of the semiconductor company’s stock valued at $81,000 after acquiring an additional 56 shares during the last quarter. Kestra Advisory Services LLC boosted 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 acquiring an additional 64 shares during the period. Fiduciary Financial Advisors purchased a new stake in shares of Onto Innovation during the second quarter valued at $25,000. Root Financial Partners LLC boosted its position in Onto Innovation by 71.2% in the 4th quarter. Root Financial Partners LLC now owns 178 shares of the semiconductor company’s stock valued at $28,000 after buying an additional 74 shares during the period. Finally, Smartleaf Asset Management LLC boosted its holdings in shares of Onto Innovation by 8.6% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,165 shares of the semiconductor company’s stock valued at $186,000 after purchasing an additional 92 shares during the period. 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.