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Onto Innovation Inc.

ONTO · NYSE

Market closed$279.85$-1.76 (-0.63%)After hours $279.85 · 0.00%

Key statistics

Previous close$281.61
Open$264.51
Day high$285.94
Day low$257.87
52-week high$386.46
52-week low$89.40
Market cap13.92B
Volume1.38M
Average volume1.28M
P/E ratio57.70
Forward P/E—
EPS4.85
Dividend yield0.00%

Market context

Why it moved

ONTO declined as a broad semiconductor sector selloff accelerated, driven by renewed investor concerns over AI spending sustainability and chip stock valuations, which pulled down the Philadelphia Semiconductor Index and the wider chip industry for the third time in four weeks.

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What is happening

Recent company-specific developments and publisher coverage.

July 18, 2026Onto Innovation edged lower, pressured by a sweeping semiconductor sector correction that has erased roughly $3.3 trillion in chip-stock market value since late June. The broader selloff — driven by profit-taking after AI-fueled gains, TSMC's higher-than-expected capex guidance, and escalating U.S.-Iran geopolitical tensions — weighed heavily on equipment peers like Applied Materials and Lam Research. Despite the near-term volatility, analyst sentiment on ONTO remains constructive, with a median price target of $350 and a Q2 2026 earnings date set for August 6, which investors will watch closely for AI-driven demand signals.

-0.625

July 17, 2026Onto Innovation tumbled sharply as a broad semiconductor sector selloff — triggered by TSMC's massive capex reset and lingering profit-taking after months of AI-driven gains — hammered chip equipment names despite no company-specific negative news. TSMC's Q2 beat was overshadowed by a $60–64B capex guidance raise and margin compression warnings, prompting investors to question valuations across the sector; peers like Nova and Microchip Technology fell 5–7%. Onto also faces a pre-earnings setup, with Q2 results scheduled for August 6, and an overhang from its $1.3B convertible note offering in May. Analysts remain broadly bullish with a median price target of $350, and the stock continues extending losses in after-hours trading.

-7.587

July 16, 2026Onto Innovation fell sharply despite a broadly positive session for large-cap tech, as profit-taking and broader semiconductor sector volatility weighed on the stock following an exceptional recent run. The decline comes on the heels of a 48% surge in June alone and near-term caution around high valuations — ONTO trades at a forward P/E of ~35x — even as the fundamental story remains intact. Cantor Fitzgerald reiterated an Overweight rating with a $410 price target on Tuesday, citing ramping Dragonfly G5 and Iris G2 product cycles and potential EPS upside into 2027-2028, while Zacks named ONTO a Zacks Rank #1 Strong Buy and preferred pick over peer Camtek heading into Q2 earnings season.

-4.5691

July 15, 2026Onto Innovation shares rallied nearly 5% as a cooler-than-expected June CPI report lifted sentiment across semiconductor equipment names, amplified by a wave of bullish analyst conviction ahead of Q2 earnings. Cantor Fitzgerald reiterated its Overweight rating with a $410 price target, highlighting share gain opportunities in Dragonfly G5 and Iris G2 product cycles, while B. Riley named ONTO a Buy at $365 as a top pick into the ASML/TSMC earnings cycle. Multiple analysts including Oppenheimer ($450 PT) and Morgan Stanley ($371 PT) remain constructive on Onto's exposure to advanced node and AI packaging demand.

4.967

July 14, 2026Onto Innovation tumbled alongside a broad semiconductor selloff as a convergence of macro pressures weighed on the sector. SK Hynix plunged ~14% in South Korea, dragging chip stocks globally lower amid profit-taking and questions about AI spending sustainability, while renewed U.S.-Iran military strikes sent oil prices surging ~5% and rattled equity markets. Despite ONTO's strong fundamental backdrop—Q1 results topped guidance, Q2 revenue outlook points to ~28% year-over-year growth, and a Zacks #1 Strong Buy rating—GuruFocus flagged the stock as still overvalued even after the decline.

-5.3603

July 11, 2026Onto Innovation closed modestly higher, outperforming the broader semiconductor sector as investors responded to sustained AI infrastructure tailwinds and renewed analyst conviction. Morgan Stanley reiterated its Buy rating with a $371 price target on July 9, reinforcing the bullish case built around the company's record Q1 2026 revenue of ~$292 million and expanding Dragonfly G5 and Atlas G6 customer wins in advanced packaging and HBM markets. The gain came despite mid-week sector turbulence triggered by Samsung earnings, with ONTO extending its recovery alongside a broader chip rally that saw the SOXX ETF climb 3.5% on Thursday.

1.3942

July 10, 2026Onto Innovation surged nearly 9%, sharply outperforming the broader technology sector (XLK essentially flat) and the S&P 500, as Morgan Stanley reiterated its Buy rating with a $371 price target and investor conviction in the company's AI-driven advanced packaging franchise deepened. The rally builds on Onto's record Q1 2026 revenue of ~$292M, Dragonfly G5 qualifications at HBM and 2.5D logic customers, and a median analyst price target of $350 — with the stock continuing to extend a remarkable run as investors increasingly view it as a strategic AI infrastructure play rather than a cyclical equipment name. Shares are continuing higher in after-hours trading, up an additional ~4%.

8.7734

July 9, 2026Onto Innovation shares rallied strongly, outperforming a broadly pressured semiconductor sector weighed down by the Samsung earnings-driven selloff earlier in the week and DeepSeek chip competition fears. The rebound reflects renewed investor confidence in ONTO's differentiated positioning in AI-driven advanced packaging and HBM inspection — a thesis reinforced by recent Dragonfly G5 order momentum and the Rigaku partnership. Analysts have raised price targets repeatedly in recent months, with consensus fair value estimates in the $355–$380 range, as ONTO is increasingly viewed as a strategic AI infrastructure play rather than a cyclical chip equipment name. Shares are also extending gains in after-hours trading.

4.1153

TradingView · July 17, 2026Can Onto Innovation Extend Its Winning Streak in Advanced Nodes Business?ad-hoc-news.de · July 17, 2026ONTO stock holds recent gains as chip inspection demand supports growthSimply Wall Street · July 16, 2026Can Onto Innovation (ONTO) Justify Its Valuation Following AI Demand And A Raised Revenue Outlook?Yahoo Finance Singapore · July 15, 2026Onto Innovation vs. Camtek: Which Inspection Stock is a Smarter Buy?Investing.com Nigeria · July 14, 2026Cantor Fitzgerald reiterates Onto Innovation stock rating on product cycle strengthInvesting.com · May 19, 2026Onto Innovation stock falls on $1.3B convertible note pricingSimply Wall Street · April 22, 2026Onto Innovation Rigaku Deal Targets Hybrid Metrology Growth In Process ControlBusiness Wire · April 20, 2026Rigaku Enters Strategic Alliance with Onto Innovation through 27 % Equity Investment
Benzinga · July 7, 2026$1000 Invested In Onto Innovation 5 Years Ago Would Be Worth This Much Today
Mt Newswire · July 6, 2026Semiconductor Sector Seeing Rising Wafer Fab Equipment Market 2028 Growth Projections, Morgan Stanley Says
Benzinga · June 29, 2026Cantor Fitzgerald Maintains Overweight on Onto Innovation, Raises Price Target to $410
Benzinga · June 22, 2026Oppenheimer Maintains Outperform on Onto Innovation, Raises Price Target to $450
Mt Newswire · June 22, 2026Oppenheimer Adjusts Onto Innovation Price Target to $450 From $370, Maintains Outperform Rating
Mt Newswire · June 15, 2026Morgan Stanley Initiates Onto Innovation at Overweight With $371 Price Target
Mt Newswire · June 5, 2026Deutsche Bank Initiates Coverage on Onto Innovation With Buy Rating, $350 Price Target
Benzinga · June 5, 2026Deutsche Bank Initiates Coverage On Onto Innovation with Buy Rating, Announces Price Target of $350

Peers

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