Onto Innovation (NYSE:ONTO) Updates Q3 2026 Earnings Guidance

Onto Innovation (NYSE:ONTO) issued an update on its third quarter 2026 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of 2.180-2.380 for the period, compared to the consensus EPS estimate of 1.930. The company issued revenue guidance of $380.0 million-$400.0 million, compared to the consensus revenue estimate of $351.8 million.

Analysts Set New Price Targets

ONTO has been the subject of a number of recent research reports. Morgan Stanley started coverage on Onto Innovation in a research note on Sunday, June 14th. They set an “overweight” rating and a $371.00 price objective for the company. Deutsche Bank Aktiengesellschaft began coverage on Onto Innovation in a report on Friday, June 5th. They set a “buy” rating and a $350.00 target price on the stock. Stifel Nicolaus set a $350.00 price target on Onto Innovation and gave the company a “buy” rating in a research report on Friday, April 17th. Freedom Capital raised Onto Innovation to a “strong-buy” rating in a report on Wednesday, June 17th. Finally, Cantor Fitzgerald upped their price objective on Onto Innovation from $350.00 to $410.00 and gave the stock an “overweight” rating in a research report on Monday, June 29th. Two investment 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 company’s stock. According to data from MarketBeat, Onto Innovation presently has a consensus rating of “Buy” and a consensus target price of $339.60.

Onto Innovation Stock Performance

Shares of Onto Innovation stock traded down $5.59 on Thursday, hitting $270.41. The company’s stock had a trading volume of 1,586,945 shares, compared to its average volume of 1,145,386. The company has a market capitalization of $13.45 billion, a price-to-earnings ratio of 56.91, a price-to-earnings-growth ratio of 1.13 and a beta of 1.59. Onto Innovation has a 1 year low of $91.61 and a 1 year high of $386.46. The firm has a fifty day moving average price of $296.05 and a 200-day moving average price of $255.68.

Onto Innovation (NYSE:ONTO) last issued its quarterly earnings results on Thursday, August 6th. The semiconductor company reported $1.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.69 by $0.24. The company had revenue of $343.13 million for the quarter, compared to the consensus estimate of $325.29 million. Onto Innovation had a return on equity of 11.68% and a net margin of 10.32%.Onto Innovation’s revenue for the quarter was up 35.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.25 earnings per share. Onto Innovation has set its Q3 2026 guidance at 2.180-2.380 EPS. As a group, analysts forecast that Onto Innovation will post 7.14 EPS for the current year.

Onto Innovation News Summary

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

• Positive Sentiment: Onto Innovation reported record second-quarter revenue of approximately $343.1 million, up 35.3% year over year and above the $325.3 million analyst consensus. Adjusted EPS of $1.93 exceeded estimates of $1.69, while EPS increased from $1.25 a year earlier. Onto Innovation Reports 2026 Second Quarter Results
• Positive Sentiment: Profitability and cash generation improved sharply: gross profit rose 50.1% to $183.3 million, operating profit nearly doubled to $63.6 million, net income increased 77.2% to $60.1 million, and operating cash flow reached $61.5 million. Onto Innovation Q2 2026 Earnings
• Positive Sentiment: Management issued well-above-consensus third-quarter guidance: EPS of $2.18-$2.38 versus the $1.93 estimate and revenue of $380 million-$400 million versus the $351.8 million consensus. Onto Innovation Earnings Call
• Positive Sentiment: The company cited strong artificial-intelligence-related semiconductor demand and a backlog exceeding $1 billion, supporting visibility into future orders. Onto Innovation Reports 2026 Second Quarter Results
• Neutral Sentiment: Analyst price targets remain broadly bullish, with a reported six-month median of $350 and several targets ranging from $370 to $450, although these targets may already reflect the company’s strong growth outlook. Onto Innovation Analyst Ratings
• Negative Sentiment: Despite the results and guidance, ONTO traded lower during the session. With shares valued at roughly 126 times earnings and having recently reached substantially higher levels, investors may be taking profits or demanding further upside surprises before bidding the stock higher.

Institutional Trading of Onto Innovation

A number of institutional investors have recently made changes to their positions in ONTO. Parallel Advisors LLC raised its position in shares of Onto Innovation by 20.6% during the fourth quarter. Parallel Advisors LLC now owns 339 shares of the semiconductor company’s stock worth $54,000 after acquiring an additional 58 shares during the last quarter. Smartleaf Asset Management LLC increased its position in Onto Innovation by 8.6% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,165 shares of the semiconductor company’s stock worth $186,000 after purchasing an additional 92 shares during the period. Transamerica Financial Advisors LLC increased its position in Onto Innovation by 188.5% in the fourth quarter. Transamerica Financial Advisors LLC now owns 176 shares of the semiconductor company’s stock worth $28,000 after purchasing an additional 115 shares during the period. CIBC Private Wealth Group LLC increased its position in Onto Innovation by 109.4% in the fourth quarter. CIBC Private Wealth Group LLC now owns 245 shares of the semiconductor company’s stock worth $39,000 after purchasing an additional 128 shares during the period. Finally, Public Employees Retirement System of Ohio raised its holdings in Onto Innovation by 0.9% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 15,486 shares of the semiconductor company’s stock worth $2,001,000 after purchasing an additional 140 shares during the last quarter. 98.35% of the stock is owned by institutional investors and hedge funds.

About Onto Innovation

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.