Onto Innovation (NYSE:ONTO) Stock Price Down 8.2% – Time to Sell?

Shares of Onto Innovation Inc. (NYSE:ONTO) traded down 8.2% during trading on Tuesday . The company traded as low as $323.05 and last traded at $322.3630. 117,234 shares traded hands 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

A number of brokerages have issued reports on ONTO. Wall Street Zen raised shares of Onto Innovation from a “hold” rating to a “buy” rating in a report on Sunday, August 9th. Needham & Company LLC boosted their price target on Onto Innovation from $330.00 to $360.00 and gave the stock a “buy” rating in a research note on Friday, August 7th. The Goldman Sachs Group initiated coverage on Onto Innovation in a report on Monday. They issued a “buy” rating and a $400.00 price target on the stock. B. Riley Financial reaffirmed a “buy” rating on shares of Onto Innovation in a research note on Friday, August 7th. Finally, Zacks Research raised Onto Innovation from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 14th. Three equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, Onto Innovation has a consensus rating of “Buy” and a consensus target price of $380.30.

Onto Innovation Stock Performance

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 stock has a fifty day moving average price of $304.23 and a two-hundred day moving average price of $261.22. The company has a market capitalization of $15.57 billion, a price-to-earnings ratio of 119.53, a PEG 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 EPS for the quarter, beating analysts’ consensus estimates of $1.69 by $0.24. Onto Innovation had a return on equity of 13.44% and a net margin of 11.84%.The business had revenue of $343.13 million for the quarter, compared to analyst estimates of $325.29 million. During the same quarter last year, the company earned $1.25 earnings per share. The business’s revenue for the quarter 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. As a group, analysts forecast that Onto Innovation Inc. will post 7.88 EPS for the current fiscal year.

Institutional Investors Weigh In On Onto Innovation

A number of hedge funds and other institutional investors have recently modified their holdings of ONTO. Andar Capital Management HK Ltd acquired a new position in shares of Onto Innovation in the second quarter valued at approximately $69,000,000. BlackRock Inc. acquired a new stake in Onto Innovation during the second quarter worth approximately $2,083,436,000. Wellington Management Group LLP boosted its position in Onto Innovation by 1,217.0% during the third quarter. Wellington Management Group LLP now owns 1,398,995 shares of the semiconductor company’s stock worth $180,778,000 after acquiring an additional 1,292,772 shares during the last quarter. Paradigm Capital Management Inc. NY purchased a new stake in Onto Innovation in the 2nd quarter worth approximately $416,839,000. Finally, William Blair Investment Management LLC purchased a new stake in Onto Innovation in the 2nd quarter worth approximately $251,812,000. 98.35% of the stock is currently 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.