Onto Innovation Inc Reaches 20-Day High on Positive Market Sentiment
Written by Emily J. Thompson, Senior Investment Analyst
Updated: May 08 2024
0mins
Should l Buy ONTO?
Source: NASDAQ.COM
Onto Innovation Inc. has seen a price increase of 5.67%, reaching a 20-day high. This movement reflects strong investor interest and positive sentiment in the market.
The Nasdaq-100 is up 0.94% and the S&P 500 is up 0.36%, indicating a broader market rally that has positively influenced tech stocks like Onto Innovation Inc.
This upward trend may suggest increased confidence in the company's future performance, potentially leading to further gains as market conditions remain favorable.
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Analyst Views on ONTO
Wall Street analysts forecast ONTO stock price to fall over the next 12 months. According to Wall Street analysts, the average 1-year price target for ONTO is 172.00 USD with a low forecast of 126.00 USD and a high forecast of 200.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
8 Analyst Rating
6 Buy
2 Hold
0 Sell
Strong Buy
Current: 188.860
Low
126.00
Averages
172.00
High
200.00
Current: 188.860
Low
126.00
Averages
172.00
High
200.00
About ONTO
Onto Innovation Inc. is engaged in the design, development, manufacture and support of metrology and inspection tools for the semiconductor industry. The Company’s products include Automated Metrology Systems; Integrated Metrology Systems; Silicon Wafer All-surface Inspection/Characterization; Macro Defect Inspection; Automated Defect Classification and Pattern Analysis; Yield Analysis; Opaque Film Metrology, and others. Its products are used by silicon wafer manufacturers, semiconductor integrated circuit fabricators, and advanced packaging manufacturers operating in the semiconductor market. Its products are also used for process control in several other specialty device manufacturing markets, including light-emitting diodes, vertical-cavity surface-emitting lasers, micro-electromechanical systems, CMOS image sensors, silicon and compound semiconductor power devices, analog devices, RF filters, and others. It also offers three advanced product lines, including FAaST, CnCV and MBIR.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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Stock Performance: Onto Innovation (ONTO) closed at $156.36, down 2.5%, underperforming the S&P 500, but has seen a 23.62% increase over the past month, significantly outpacing sector gains.
Earnings Forecast: The company is expected to report an EPS of $1.27, a 15.89% decrease from last year, with projected revenue of $266.11 million, reflecting a slight increase.
Analyst Confidence: Onto Innovation has a Zacks Rank of #2 (Buy), indicating positive analyst sentiment, with recent EPS estimates rising by 0.9% over the past month.
Valuation Metrics: The stock's Forward P/E ratio is 32.33, matching the industry average, and it has a PEG ratio of 1.08, suggesting a balanced valuation relative to expected earnings growth.
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- Regional Bank Rebound: The SPDR S&P Regional Banking ETF's surge helped lift small-cap stocks, with the Russell 2000 index hitting record highs for the tenth consecutive session, pushing year-to-date gains above 7%, indicating optimism towards small businesses.
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- Market Performance: Packaging Corp shares closed at $211.13 on Monday, indicating a potential upside of 10.4% based on the new target, which may attract more investor interest in the stock.
- Other Rating Changes: Needham increased the price target for Onto Innovation from $150 to $200 while maintaining a Buy rating, demonstrating strong optimism regarding the company's innovation capabilities.
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- Increased Market Recognition: The widespread application of AI technologies has led to a notable increase in demand for Nova's products, further solidifying its leadership in the semiconductor industry.
- Rising Investor Interest: Being named IBD Stock Of The Day reflects heightened investor recognition of Nova's future growth potential, which could drive stock price appreciation.
- Strategic Market Positioning: The company's robust performance in AI-related sectors indicates a strategic alignment with market trends, likely attracting more investor attention moving forward.
See More
Bridge City Capital Increases Onto Innovation Stake to 47,342 Shares
- Stake Increase: Bridge City Capital disclosed an acquisition of 31,096 additional shares of Onto Innovation, raising its total holdings to 47,342 shares valued at $6.12 million as of September 30, 2025, indicating sustained confidence in the semiconductor sector.
- Asset Allocation: Onto Innovation now represents 1.63% of Bridge City Capital's 13F reportable assets, highlighting its significance in the portfolio and potentially influencing future investment decisions.
- Market Performance: As of November 11, 2025, Onto Innovation shares were priced at $133.44, down 23.59% over the past year, underperforming the S&P 500 by 38.39 percentage points, which may present a buying opportunity for investors.
- Industry Outlook: Given the strong demand for AI chips, Bridge City Capital's increased stake likely reflects optimistic expectations for semiconductor process control companies, especially in the context of current low valuations that may attract more investor interest.
See More
Onto Innovation (ONTO) Declines More Sharply Than the Overall Market: Key Insights for Investors
Stock Performance: Onto Innovation (ONTO) closed at $156.36, down 2.5%, underperforming the S&P 500, but has seen a 23.62% increase over the past month, significantly outpacing sector gains.
Earnings Forecast: The company is expected to report an EPS of $1.27, a 15.89% decrease from last year, with projected revenue of $266.11 million, reflecting a slight increase.
Analyst Confidence: Onto Innovation has a Zacks Rank of #2 (Buy), indicating positive analyst sentiment, with recent EPS estimates rising by 0.9% over the past month.
Valuation Metrics: The stock's Forward P/E ratio is 32.33, matching the industry average, and it has a PEG ratio of 1.08, suggesting a balanced valuation relative to expected earnings growth.
See More
