Onto Innovation Inc. (NYSE:ONTO) Stock Has Consensus Target Price of $377.73 According to Analysts

Shares of Onto Innovation Inc. (NYSE:ONTO) have received an average recommendation of “Buy” from the fifteen brokerages that are covering the stock, Marketbeat Ratings reports. Two analysts have rated the stock with a hold recommendation, eleven have given a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $352.08.

A number of equities research analysts have recently issued reports on ONTO shares. B. Riley Financial decreased their price target on shares of Onto Innovation from $340.00 to $285.00 and set a “buy” rating on the stock in a research note on Monday. Morgan Stanley lowered their target price on Onto Innovation from $360.00 to $325.00 and set an “overweight” rating on the stock in a research report on Tuesday. The Goldman Sachs Group initiated coverage on Onto Innovation in a research report on Monday, August 17th. They set a “buy” rating and a $400.00 target price on the stock. Jefferies Financial Group dropped their target price on shares of Onto Innovation from $400.00 to $350.00 and set a “buy” rating on the stock in a research report on Tuesday. Finally, Evercore started coverage on shares of Onto Innovation in a research note on Tuesday. They set a “strong-buy” rating for the company.

Key Onto Innovation News

Investors following ONTO have been watching these news items:

• Positive Sentiment: AI-related advanced-packaging demand is supporting record growth. Onto raised its fourth-quarter outlook, cited a backlog exceeding $1.3 billion, and pointed to growing adoption of its Dragonfly G5 system—factors that suggest momentum could continue into 2027. Article: ONTO Raises Q4 Outlook as AI Packaging Demand Drives Record Growth
• Negative Sentiment: Valuation appears to be a key overhang: despite stronger earnings and growth prospects, ONTO has fallen 14% in a week, with commentary pointing to elevated multiples and lower analyst fair-value estimates. Customer concentration is another cited risk. Article: ONTO Falls 14% in 1 Week as Growth Strength Collides With Valuation
• Negative Sentiment: Cash generation is mixed: Q3 operating cash flow improved, but lower cash flow over the first nine months raises questions about how sustainable the improvement is. Additional target cuts and a pessimistic forecast may also weigh on sentiment. Article: Onto Innovation’s Q3 Cash Flow Hits $79M

Onto Innovation Stock Down 2.4%

NYSE:ONTO opened at $209.85 on Tuesday. The company has a market cap of $10.30 billion, a price-to-earnings ratio of 30.50, a P/E/G ratio of 0.63 and a beta of 1.66. Onto Innovation has a 52-week low of $121.57 and a 52-week high of $386.46. The company has a debt-to-equity ratio of 0.74, a quick ratio of 8.33 and a current ratio of 6.78. The stock’s fifty day moving average price is $249.02 and its two-hundred day moving average price is $259.15.

Onto Innovation (NYSE:ONTO) last released its earnings results on Monday, November 9th. The semiconductor company reported $2.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.30 by $0.14. The company had revenue of $409.75 million for the quarter, compared to the consensus estimate of $392.06 million. Onto Innovation had a net margin of 11.53% and a return on equity of 17.18%. The company’s revenue was up 87.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.92 EPS. On average, analysts anticipate that Onto Innovation will post 8.25 EPS for the current year.

Insider Activity at Onto Innovation

In other news, Director Susan Lynch sold 1,000 shares of Onto Innovation stock in a transaction on Friday, August 21st. The shares were sold at an average price of $302.30, for a total transaction of $302,300.00. Following the completion of the sale, the director directly owned 2,684 shares of the company’s stock, valued at approximately $811,373.20. The trade was a 27.14% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director David Miller sold 2,000 shares of Onto Innovation stock in a transaction that occurred on Tuesday, September 29th. The stock was sold at an average price of $300.00, for a total transaction of $600,000.00. Following the transaction, the director directly owned 10,692 shares in the company, valued at $3,207,600. This trade represents a 15.76% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.51% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Onto Innovation

Several institutional investors and hedge funds have recently made changes to their positions in the company. Meeder Advisory Services Inc. raised its holdings in Onto Innovation by 4.7% in the 3rd quarter. Meeder Advisory Services Inc. now owns 1,640 shares of the semiconductor company’s stock worth $505,000 after purchasing an additional 73 shares during the period. Allianz SE bought a new position in shares of Onto Innovation during the 3rd quarter valued at approximately $1,447,000. Advisors Asset Management Inc. purchased a new stake in shares of Onto Innovation in the third quarter valued at $844,000. Private Advisor Group LLC raised its position in Onto Innovation by 87.8% in the 3rd quarter. Private Advisor Group LLC now owns 1,632 shares of the semiconductor company’s stock worth $502,000 after purchasing an additional 763 shares during the period. Finally, Independent Advisor Alliance lifted its position in shares of Onto Innovation by 4.8% during the third quarter. Independent Advisor Alliance now owns 2,084 shares of the semiconductor company’s stock worth $613,000 after purchasing an additional 96 shares during the last quarter. Institutional investors own 98.35% of the company’s stock.

About Onto Innovation

Onto Innovation develops process-control and inspection solutions used in semiconductor manufacturing. Its products include metrology and inspection systems, lithography equipment, and software that help manufacturers monitor production processes and identify defects. The company serves producers of semiconductor devices, advanced packaging, and specialty components. Its technologies support applications ranging from traditional wafer fabrication to newer packaging methods used in complex chips.