Onto Innovation (NYSE:ONTO) Shares Gap Down – What’s Next?

Onto Innovation Inc. (NYSE:ONTO) shares gapped down prior to trading on Monday . The stock had previously closed at $281.26, but opened at $256.41. Onto Innovation shares last traded at $258.6030, with a volume of 79,721 shares trading hands.

Analysts Set New Price Targets

A number of equities analysts have commented on ONTO shares. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Onto Innovation in a report on Friday, June 5th. They issued a “buy” rating and a $350.00 target price for the company. Jefferies Financial Group raised their price target on shares of Onto Innovation from $350.00 to $400.00 and gave the company a “buy” rating in a report on Friday, August 7th. Needham & Company LLC lifted their price objective on shares of Onto Innovation from $330.00 to $360.00 and gave the stock a “buy” rating in a research report on Friday, August 7th. Weiss Ratings upgraded shares of Onto Innovation from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, August 21st. Finally, Freedom Capital raised shares of 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, ten have issued a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $378.00.

Onto Innovation Trading Down 2.4%

The company has a 50 day moving average of $285.51 and a two-hundred day moving average of $270.69. The company has a debt-to-equity ratio of 0.77, a quick ratio of 8.33 and a current ratio of 9.73. The stock has a market capitalization of $11.98 billion, a PE ratio of 91.75, a P/E/G ratio of 0.82 and a beta of 1.59.

Onto Innovation (NYSE:ONTO) last released its quarterly earnings results on Thursday, August 6th. The semiconductor company reported $1.93 EPS for the quarter, beating 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 return on equity of 13.44% and a net margin of 11.84%.The firm’s revenue was up 35.3% compared to the same quarter last year. During the same period last year, the business posted $1.25 earnings per share. Onto Innovation has set its Q3 2026 guidance at 2.180-2.380 EPS. Sell-side analysts predict that Onto Innovation Inc. will post 8.04 EPS for the current year.

Insider Activity at Onto Innovation

In related news, Director Susan Lynch sold 1,000 shares of the stock in a transaction that occurred on Friday, August 21st. The shares were 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 $811,373.20. This trade represents a 27.14% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.51% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of ONTO. Allworth Financial LP lifted its holdings in Onto Innovation by 3.9% in the second quarter. Allworth Financial LP now owns 987 shares of the semiconductor company’s stock valued at $374,000 after acquiring an additional 37 shares during the period. Parallel Advisors LLC grew its stake in shares of Onto Innovation by 16.5% during the 1st quarter. Parallel Advisors LLC now owns 395 shares of the semiconductor company’s stock worth $81,000 after purchasing an additional 56 shares during the period. Kestra Advisory Services LLC grew its stake in shares of Onto Innovation by 4.9% during the 1st quarter. Kestra Advisory Services LLC now owns 1,368 shares of the semiconductor company’s stock worth $281,000 after purchasing an additional 64 shares during the period. Highland Investment Advisors LLC purchased a new position in shares of Onto Innovation in the 2nd quarter valued at about $25,000. Finally, Fiduciary Financial Advisors purchased a new position in shares of Onto Innovation in the 2nd quarter valued at about $25,000. Institutional investors and hedge funds own 98.35% of the company’s stock.

Onto Innovation Company Profile

Onto Innovation Inc (NYSE:ONTO) develops process control, inspection, metrology and lithography systems used in the semiconductor and advanced packaging industries. Its technologies help chip manufacturers monitor and improve processes throughout wafer fabrication, packaging and other stages of production.

The company’s products include optical metrology systems, wafer and macro-defect inspection tools, three-dimensional metrology solutions, lithography systems and process-control software.