Onto Innovation (NYSE:ONTO) Raised to Strong-Buy at The Goldman Sachs Group

Onto Innovation (NYSE:ONTO) was upgraded by The Goldman Sachs Group to a “strong-buy” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

ONTO has been the subject of several other reports. Deutsche Bank Aktiengesellschaft started coverage on Onto Innovation in a research report on Friday, June 5th. They issued a “buy” rating and a $350.00 target price for the company. B. Riley Financial reissued a “buy” rating on shares of Onto Innovation in a research report on Friday, August 7th. Weiss Ratings lowered shares of Onto Innovation from a “hold (c)” rating to a “hold (c-)” rating in a research note on Friday, August 7th. Freedom Capital upgraded shares of Onto Innovation to a “strong-buy” rating in a report on Wednesday, June 17th. Finally, Needham & Company LLC upped their target price on shares of Onto Innovation from $330.00 to $360.00 and gave the stock a “buy” rating in a research note on Friday, August 7th. Three analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $380.30.

Onto Innovation Trading Up 6.1%

ONTO opened at $351.91 on Monday. Onto Innovation has a 52 week low of $101.00 and a 52 week high of $386.46. 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 fifty day simple moving average of $304.23 and a 200-day simple moving average of $261.22. The firm has a market cap of $17.27 billion, a P/E ratio of 132.30, a P/E/G ratio of 1.11 and a beta of 1.59.

Onto Innovation (NYSE:ONTO) last posted its quarterly earnings data on Thursday, August 6th. The semiconductor company reported $1.93 earnings per share (EPS) 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 the consensus estimate of $325.29 million. During the same quarter in the previous year, the business earned $1.25 EPS. The company’s quarterly 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. On average, equities analysts expect that Onto Innovation will post 7.88 earnings per share for the current year.

Institutional Investors Weigh In On Onto Innovation

A number of large investors have recently modified their holdings of the company. Fiduciary Financial Advisors purchased a new position in Onto Innovation in the second quarter valued at $25,000. Root Financial Partners LLC lifted its holdings in shares of 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 purchasing an additional 74 shares during the last quarter. Transamerica Financial Advisors LLC lifted its holdings in shares of Onto Innovation by 188.5% in the 4th quarter. Transamerica Financial Advisors LLC now owns 176 shares of the semiconductor company’s stock valued at $28,000 after purchasing an additional 115 shares during the last quarter. Millstone Evans Group LLC boosted its position in shares of Onto Innovation by 147.8% in the 1st quarter. Millstone Evans Group LLC now owns 166 shares of the semiconductor company’s stock valued at $34,000 after purchasing an additional 99 shares during the period. Finally, CoreCap Advisors LLC acquired a new stake in shares of Onto Innovation in the 2nd quarter valued at about $38,000. 98.35% of the stock is owned by hedge funds and other institutional investors.

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.