Onto Innovation (NYSE:ONTO) Sets New 1-Year High on Analyst Upgrade

Shares of Onto Innovation Inc. (NYSE:ONTO) hit a new 52-week high on Monday after Needham & Company LLC raised their price target on the stock from $275.00 to $320.00. Needham & Company LLC currently has a buy rating on the stock. Onto Innovation traded as high as $295.00 and last traded at $290.2950, with a volume of 7422 shares traded. The stock had previously closed at $290.76.

Several other brokerages also recently weighed in on ONTO. Jefferies Financial Group restated a “buy” rating and set a $300.00 price objective on shares of Onto Innovation in a research report on Friday, February 20th. Cantor Fitzgerald upped their target price on Onto Innovation from $275.00 to $300.00 and gave the stock an “overweight” rating in a report on Monday, April 6th. Zacks Research raised Onto Innovation from a “hold” rating to a “strong-buy” rating in a report on Wednesday, December 31st. Oppenheimer upped their target price on Onto Innovation from $265.00 to $350.00 and gave the stock an “outperform” rating in a report on Friday. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Onto Innovation in a report on Thursday, January 22nd. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $300.63.

Trending Headlines about Onto Innovation

Here are the key news stories impacting Onto Innovation this week:

• Positive Sentiment: Rigaku strategic collaboration to advance next‑generation process control solutions — partnership expands Onto’s product roadmap in X‑ray, optical and AI-enabled metrology, reinforcing growth potential in semiconductor process control. Article Title
• Positive Sentiment: Rigaku took a ~27% equity stake in Onto, creating a strategic capital alliance that aligns a major X‑ray technology provider with Onto’s market access and product set — this is a direct vote of confidence and could accelerate joint product commercialization and customer wins. Article Title
• Positive Sentiment: Broker upgrade / price‑target lift — Needham raised its price target to $320 and maintained a Buy rating, which supports near‑term sentiment and provides upside for investors expecting continued execution. Article Title
• Neutral Sentiment: Short‑term uptick noted in market coverage — coverage pieces reported Onto shares rising while the broader market dipped; useful for context but less material than the Rigaku deal. Article Title
• Neutral Sentiment: Macro/market commentary referencing semiconductor/AI themes that include ONTO as a pick — positive thematic tailwinds but not company‑specific catalysts. Article Title
• Negative Sentiment: Fundamental caution: analysis notes modest recent revenue growth (low single digits), a slight EPS miss last quarter, and a decline in gross margin — these factors could limit upside if execution or end‑market demand softens. Investors should weigh the strategic deal against these operational metrics. Article Title

Institutional Investors Weigh In On Onto Innovation

Several institutional investors and hedge funds have recently made changes to their positions in ONTO. NewEdge Advisors LLC increased its stake in shares of Onto Innovation by 312.5% in the first quarter. NewEdge Advisors LLC now owns 4,121 shares of the semiconductor company’s stock valued at $500,000 after buying an additional 3,122 shares during the period. Goldman Sachs Group Inc. boosted its position in shares of Onto Innovation by 76.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 482,256 shares of the semiconductor company’s stock valued at $58,517,000 after purchasing an additional 208,907 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Onto Innovation by 8.8% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 163,259 shares of the semiconductor company’s stock valued at $19,810,000 after purchasing an additional 13,175 shares in the last quarter. Cetera Investment Advisers boosted its position in shares of Onto Innovation by 6.3% during the 2nd quarter. Cetera Investment Advisers now owns 4,017 shares of the semiconductor company’s stock valued at $405,000 after purchasing an additional 238 shares in the last quarter. Finally, Russell Investments Group Ltd. boosted its position in shares of Onto Innovation by 182.4% during the 2nd quarter. Russell Investments Group Ltd. now owns 6,631 shares of the semiconductor company’s stock valued at $666,000 after purchasing an additional 4,283 shares in the last quarter. Institutional investors and hedge funds own 98.35% of the company’s stock.

Onto Innovation Trading Up 1.3%

The firm has a 50-day moving average of $218.70 and a 200 day moving average of $180.60. The company has a market cap of $14.66 billion, a P/E ratio of 106.37, a price-to-earnings-growth ratio of 1.50 and a beta of 1.47.

Onto Innovation (NYSE:ONTO) last announced its earnings results on Thursday, February 19th. The semiconductor company reported $1.26 EPS for the quarter, missing the consensus estimate of $1.28 by ($0.02). Onto Innovation had a net margin of 13.60% and a return on equity of 12.20%. The business had revenue of $266.87 million for the quarter, compared to the consensus estimate of $265.78 million. During the same quarter in the previous year, the company earned $1.51 EPS. The firm’s revenue for the quarter was up 1.1% on a year-over-year basis. Onto Innovation has set its Q1 2026 guidance at 1.260-1.360 EPS. On average, equities analysts predict that Onto Innovation Inc. will post 6.48 EPS for the current year.

Onto Innovation Company Profile

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.