Onto Innovation (NYSE:ONTO) Shares Down 5.5% – Should You Sell?

Onto Innovation Inc. (NYSE:ONTO)’s share price dropped 5.5% during trading on Thursday . The company traded as low as $158.83 and last traded at $159.0470. Approximately 348,253 shares traded hands during mid-day trading, a decline of 72% from the average daily volume of 1,225,420 shares. The stock had previously closed at $168.37.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Needham & Company LLC reiterated a “buy” rating and issued a $150.00 price target on shares of Onto Innovation in a research report on Tuesday, November 18th. Evercore ISI upped their target price on shares of Onto Innovation from $115.00 to $160.00 and gave the company an “outperform” rating in a report on Tuesday, November 4th. Jefferies Financial Group upgraded shares of Onto Innovation from a “hold” rating to a “buy” rating and increased their target price for the stock from $100.00 to $170.00 in a research note on Tuesday, September 23rd. Oppenheimer raised their price target on Onto Innovation from $130.00 to $180.00 and gave the stock an “outperform” rating in a report on Tuesday, October 14th. Finally, B. Riley upped their price objective on Onto Innovation from $173.00 to $180.00 and gave the company a “buy” rating in a research note on Tuesday, November 18th. Six analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $151.25.

Onto Innovation Stock Down 2.6%

The stock has a market capitalization of $7.65 billion, a PE ratio of 44.10, a PEG ratio of 1.08 and a beta of 1.48. The firm’s fifty day moving average is $138.45 and its 200-day moving average is $116.80.

Onto Innovation (NYSE:ONTO) last released its earnings results on Thursday, November 6th. The semiconductor company reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.89 by $0.03. The company had revenue of $218.19 million for the quarter, compared to analysts’ expectations of $220.23 million. Onto Innovation had a return on equity of 13.11% and a net margin of 17.46%.The firm’s quarterly revenue was down 13.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.34 EPS. Onto Innovation has set its Q4 2025 guidance at 1.180-1.330 EPS. On average, analysts expect that Onto Innovation Inc. will post 6.26 EPS for the current year.

Institutional Investors Weigh In On Onto Innovation

A number of hedge funds and other institutional investors have recently bought and sold shares of ONTO. Wellington Management Group LLP increased its holdings in shares of Onto Innovation by 1,217.0% in the 3rd quarter. Wellington Management Group LLP now owns 1,398,995 shares of the semiconductor company’s stock valued at $180,778,000 after purchasing an additional 1,292,772 shares in the last quarter. William Blair Investment Management LLC grew its position in Onto Innovation by 650.4% during the second quarter. William Blair Investment Management LLC now owns 1,098,860 shares of the semiconductor company’s stock worth $110,908,000 after buying an additional 952,419 shares during the period. Voya Investment Management LLC increased its holdings in Onto Innovation by 4,494.6% in the third quarter. Voya Investment Management LLC now owns 868,607 shares of the semiconductor company’s stock valued at $111,974,000 after buying an additional 849,702 shares in the last quarter. Qube Research & Technologies Ltd lifted its position in shares of Onto Innovation by 1,510.2% during the 2nd quarter. Qube Research & Technologies Ltd now owns 901,180 shares of the semiconductor company’s stock valued at $90,956,000 after acquiring an additional 845,213 shares during the period. Finally, Norges Bank purchased a new stake in shares of Onto Innovation during the 2nd quarter worth approximately $71,961,000. Institutional investors and hedge funds own 98.35% of the company’s stock.

Onto Innovation Company Profile

Onto Innovation Inc engages in the design, development, manufacture, and support of process control tools that performs optical metrology. The company offers lithography systems and process control analytical software. It also offers process and yield management solutions, and device packaging and test facilities through standalone systems for optical metrology, macro-defect inspection, packaging lithography, and transparent and opaque thin film measurements.