Onto Innovation (NYSE:ONTO) Upgraded to Moderate Buy at Royal Bank Of Canada

Royal Bank Of Canada upgraded shares of Onto Innovation (NYSE:ONTO) to a moderate buy rating in a research note published on Friday,Zacks reports.

ONTO has been the subject of several other research reports. Freedom Capital raised shares of Onto Innovation to a “strong-buy” rating in a research report on Wednesday, June 17th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Onto Innovation in a research report on Friday, June 5th. They set a “buy” rating and a $350.00 target price for the company. B. Riley Financial reiterated a “buy” rating on shares of Onto Innovation in a research report on Friday, August 7th. 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 research report on Monday, June 29th. Finally, Oppenheimer raised their target price on Onto Innovation from $370.00 to $450.00 and gave the stock an “outperform” rating in a report on Monday, June 22nd. Two research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $380.00.

Onto Innovation Trading Up 4.0%

NYSE:ONTO opened at $327.49 on Friday. The company has a market cap of $16.07 billion, a PE ratio of 123.12, a price-to-earnings-growth ratio of 1.03 and a beta of 1.58. The company has a current ratio of 9.73, a quick ratio of 8.33 and a debt-to-equity ratio of 0.77. The company has a 50 day simple moving average of $282.63 and a two-hundred day simple moving average of $278.00. Onto Innovation has a 12 month low of $118.97 and a 12 month high of $386.46.

Onto Innovation (NYSE:ONTO) last released its quarterly 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. Onto Innovation had a return on equity of 13.44% and a net margin of 11.84%.The firm had revenue of $343.13 million for the quarter, compared to analysts’ expectations of $325.29 million. During the same period in the prior year, the firm earned $1.25 EPS. The company’s revenue 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 forecast that Onto Innovation will post 8.04 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Susan Lynch sold 1,000 shares of Onto Innovation stock in a transaction on Friday, August 21st. The shares were sold at an average price of $302.30, for a total transaction of $302,300.00. Following the transaction, the director owned 2,684 shares in the company, valued at approximately $811,373.20. The trade was a 27.14% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, 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 stock in a transaction 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 of the company’s stock, valued at $3,207,600. The trade was 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 currently owned by insiders.

Institutional Trading of Onto Innovation

Several institutional investors have recently made changes to their positions in ONTO. Highland Investment Advisors LLC purchased a new position in shares of Onto Innovation in the 2nd quarter worth approximately $25,000. Fiduciary Financial Advisors purchased a new position in Onto Innovation during the second quarter worth $25,000. CoreCap Advisors LLC purchased a new stake in Onto Innovation in the 2nd quarter worth about $38,000. Rakuten Securities Inc. bought a new stake in Onto Innovation in the second quarter worth about $40,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in shares of Onto Innovation during the second quarter valued at approximately $42,000. Hedge funds and other institutional investors own 98.35% of the company’s stock.

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.