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

by · The Markets Daily

Shares of Onto Innovation Inc. (NYSE:ONTO – Get Free Report) gapped down before the market opened on Friday . The stock had previously closed at $131.75, but opened at $118.97. Onto Innovation shares last traded at $129.4830, with a volume of 432,588 shares.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. Stifel Nicolaus boosted their price target on shares of Onto Innovation from $110.00 to $120.00 and gave the stock a “hold” rating in a research note on Monday, October 13th. Benchmark lowered their target price on Onto Innovation from $190.00 to $160.00 and set a “buy” rating for the company in a research note on Friday, August 8th. B. Riley raised their price target on Onto Innovation from $145.00 to $170.00 and gave the stock a “buy” rating in a research report on Friday, October 10th. Jefferies Financial Group upgraded Onto Innovation from a “hold” rating to a “buy” rating and boosted their price objective for the company from $100.00 to $170.00 in a research report on Tuesday, September 23rd. Finally, Evercore ISI upped their price target on shares of Onto Innovation from $115.00 to $160.00 and gave the company an “outperform” rating in a report on Tuesday. Six investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $150.00.

Check Out Our Latest Stock Report on Onto Innovation

Onto Innovation Stock Up 2.5%

The firm has a market cap of $6.62 billion, a P/E ratio of 33.44, a P/E/G ratio of 0.94 and a beta of 1.64. The business has a fifty day simple moving average of $125.94 and a 200-day simple moving average of $110.89.

Onto Innovation (NYSE:ONTO – Get Free Report) last posted its quarterly earnings data on Thursday, November 6th. The semiconductor company reported $0.92 EPS for the quarter, topping the consensus estimate of $0.89 by $0.03. Onto Innovation had a net margin of 19.29% and a return on equity of 14.38%. The business had revenue of $218.19 million for the quarter, compared to analyst estimates of $220.23 million. During the same quarter in the previous year, the firm posted $1.34 earnings per share. Onto Innovation’s quarterly revenue was down 13.5% on a year-over-year basis. Onto Innovation has set its Q4 2025 guidance at 1.180-1.330 EPS. On average, sell-side analysts anticipate that Onto Innovation Inc. will post 6.26 EPS for the current fiscal year.

Institutional Investors Weigh In On Onto Innovation

Several institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in Onto Innovation by 5.5% during the 3rd quarter. Vanguard Group Inc. now owns 5,667,404 shares of the semiconductor company’s stock valued at $732,342,000 after buying an additional 294,393 shares during the last quarter. Massachusetts Financial Services Co. MA grew its holdings in Onto Innovation by 48.4% during the first quarter. Massachusetts Financial Services Co. MA now owns 1,291,415 shares of the semiconductor company’s stock valued at $156,700,000 after purchasing an additional 421,165 shares during the period. Paradigm Capital Management Inc. NY lifted its position in shares of Onto Innovation by 0.7% during the 2nd quarter. Paradigm Capital Management Inc. NY now owns 1,112,839 shares of the semiconductor company’s stock valued at $112,319,000 after buying an additional 7,900 shares in the last quarter. William Blair Investment Management LLC increased its holdings in Onto Innovation by 650.4% in the 2nd quarter. William Blair Investment Management LLC now owns 1,098,860 shares of the semiconductor company’s stock worth $110,908,000 after acquiring an additional 952,419 shares in the last quarter. Finally, Geneva Capital Management LLC lifted its holdings in Onto Innovation by 6.5% during the second quarter. Geneva Capital Management LLC now owns 1,081,662 shares of the semiconductor company’s stock valued at $109,172,000 after purchasing an additional 66,339 shares in the last quarter. Institutional investors own 98.35% of the company’s stock.

About Onto Innovation

(Get Free Report)

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.

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