Onto Innovation (NYSE:ONTO) Now Covered by Analysts at Royal Bank Of Canada

Equities researchers at Royal Bank Of Canada began coverage on shares of Onto Innovation (NYSE:ONTO) in a report issued on Friday, MarketBeat Ratings reports. The firm set an “outperform” rating and a $400.00 price target on the semiconductor company’s stock. Royal Bank Of Canada’s target price would suggest a potential upside of 22.74% from the company’s previous close.

A number of other brokerages have also weighed in on ONTO. Cantor Fitzgerald boosted their price objective on shares of Onto Innovation from $350.00 to $410.00 and gave the company an “overweight” rating in a report on Monday, June 29th. Zacks Research upgraded Onto Innovation from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 14th. Jefferies Financial Group lifted their price target on Onto Innovation from $350.00 to $400.00 and gave the stock a “buy” rating in a research report on Friday, August 7th. Deutsche Bank Aktiengesellschaft assumed coverage on Onto Innovation in a report on Friday, June 5th. They issued a “buy” rating and a $350.00 price objective on the stock. Finally, Freedom Capital upgraded Onto Innovation to a “strong-buy” rating in a research report on Wednesday, June 17th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $380.00.

Onto Innovation Stock Down 0.6%

Shares of ONTO traded down $1.87 during mid-day trading on Friday, hitting $325.90. 494,034 shares of the company traded hands, compared to its average volume of 1,046,928. The company has a market capitalization of $15.99 billion, a PE ratio of 122.52, a price-to-earnings-growth ratio of 1.07 and a beta of 1.58. The company has a quick ratio of 8.33, a current ratio of 9.73 and a debt-to-equity ratio of 0.77. The business has a 50 day moving average of $282.63 and a 200 day moving average of $278.59. Onto Innovation has a 1-year low of $118.97 and a 1-year high of $386.46.

Onto Innovation (NYSE:ONTO) last released its earnings results on Thursday, August 6th. The semiconductor company reported $1.93 EPS for the quarter, topping analysts’ consensus estimates 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 revenue for the quarter was up 35.3% on a year-over-year basis. During the same period last year, the business earned $1.25 EPS. Onto Innovation has set its Q3 2026 guidance at 2.180-2.380 EPS. Equities research analysts anticipate that Onto Innovation will post 8.04 EPS for the current year.

Insider Transactions at Onto Innovation

In other Onto Innovation news, Director Susan D. Lynch sold 1,000 shares of the business’s stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $302.30, for a total value of $302,300.00. Following the completion of the transaction, the director directly owned 2,684 shares of the company’s stock, valued at approximately $811,373.20. The trade was a 27.14% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director David Miller sold 2,000 shares of the company’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 value of $600,000.00. Following the completion of the sale, the director owned 10,692 shares in the company, valued at approximately $3,207,600. This represents a 15.76% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.51% of the stock is owned by corporate insiders.

Institutional Trading of Onto Innovation

Hedge funds have recently added to or reduced their stakes in the company. Highland Investment Advisors LLC acquired a new stake in Onto Innovation during the second quarter valued at $25,000. Fiduciary Financial Advisors purchased a new stake in shares of Onto Innovation during the 2nd quarter worth about $25,000. CoreCap Advisors LLC purchased a new stake in shares of Onto Innovation during the 2nd quarter worth about $38,000. Rakuten Securities Inc. acquired a new stake in shares of Onto Innovation during the 2nd quarter valued at about $40,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in shares of Onto Innovation in the 2nd quarter valued at about $42,000. 98.35% of the stock is owned by hedge funds and other institutional investors.

About Onto Innovation

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.