Onto Innovation (NYSE:ONTO) Shares Gap Down – Time to Sell?

Onto Innovation Inc. (NYSE:ONTO)’s share price gapped down before the market opened 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 changing hands.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. Evercore reissued an “outperform” rating and issued a $390.00 target price on shares of Onto Innovation in a report on Friday, August 7th. Morgan Stanley cut their target price on shares of Onto Innovation from $383.00 to $360.00 and set an “overweight” rating for the company in a research note on Tuesday, September 8th. Oppenheimer boosted their price target on shares of Onto Innovation from $370.00 to $450.00 and gave the stock an “outperform” rating in a research note on Monday, June 22nd. Cantor Fitzgerald boosted their price target on shares of Onto Innovation from $350.00 to $410.00 and gave the stock an “overweight” rating in a research note on Monday, June 29th. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of Onto Innovation in a report on Friday, June 5th. They set a “buy” rating and a $350.00 price objective for the company. Two analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $378.00.

Onto Innovation Stock Down 9.1%

The business has a 50-day moving average price of $287.29 and a 200 day moving average price of $270.37. The company has a current ratio of 9.73, a quick ratio of 8.33 and a debt-to-equity ratio of 0.77. The stock has a market capitalization of $12.55 billion, a P/E ratio of 96.22, a P/E/G ratio of 0.92 and a beta of 1.59.

Onto Innovation (NYSE:ONTO) last announced its quarterly earnings results on Thursday, August 6th. The semiconductor company reported $1.93 earnings per share for the quarter, topping the consensus estimate of $1.69 by $0.24. The company had revenue of $343.13 million for the quarter, compared to analysts’ expectations of $325.29 million. Onto Innovation had a net margin of 11.84% and a return on equity of 13.44%. Onto Innovation’s quarterly revenue was up 35.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.25 earnings per share. Onto Innovation has set its Q3 2026 guidance at 2.180-2.380 EPS. On average, equities analysts expect that Onto Innovation Inc. will post 8.04 EPS for the current fiscal year.

Insider Buying and Selling at Onto Innovation

In other news, Director Susan Lynch sold 1,000 shares of the business’s stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $302.30, for a total value of $302,300.00. Following the sale, the director directly owned 2,684 shares in the company, valued at $811,373.20. The trade was a 27.14% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.51% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Allworth Financial LP grew 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 purchasing an additional 37 shares during the last quarter. Parallel Advisors LLC increased its position in shares of Onto Innovation by 16.5% in the first quarter. Parallel Advisors LLC now owns 395 shares of the semiconductor company’s stock valued at $81,000 after buying an additional 56 shares in the last quarter. Kestra Advisory Services LLC raised 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 buying an additional 64 shares during the last quarter. Highland Investment Advisors LLC acquired a new position in shares of Onto Innovation during the 2nd quarter worth $25,000. Finally, Fiduciary Financial Advisors purchased a new stake in shares of Onto Innovation in the 2nd quarter worth about $25,000. Hedge funds and other institutional investors 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.