Onto Innovation is rated Buy, driven by strong demand for its semiconductor inspection and metrology equipment, particularly in AI-related HBM and advanced packaging. ONTO reported record Q2 FY2026 revenue and backlog above $1B, with management guiding Q3 revenue to $380M-$400M and non-GAAP EPS to $2.18-$2.38. Adoption of Dragonfly G5 is ramping, with significant volume purchase agreements and OSAT orders extending into 2027, supporting multi-year growth visibility.
ONTO's AI-driven packaging demand, record revenue and rising estimates give it an edge over PDFS, whose bookings and analytics business are gaining momentum.
Onto Innovation (ONTO) closed the most recent trading day at $241.41, moving 8.4% from the previous trading session.
ONTO's liquidity, strong cash flow and strategic Rigaku investment position it to tap AI-driven semiconductor growth opportunities.
Onto Innovation's backlog more than doubles to $1.1 billion as AI infrastructure spending accelerates advanced packaging demand, boosting its 2026 outlook.
Onto Innovation (ONTO) reached $292.67 at the closing of the latest trading day, reflecting a -3.85% change compared to its last close.
Onto Innovation's record results, $1B-plus backlog and Dragonfly G5 momentum fuel its AI-driven growth, despite valuation risks.
Onto Innovation ( ONTO ) is a leading provider of process control, metrology, and inspection solutions for the global semiconductor industry. Headquartered in Wilmington, Massachusetts, the company was formed in October 2019 through a merger of equals between Nanometrics Incorporated and Rudolph Technologies.
Onto Innovation is a high-conviction Strong Buy, benefiting from robust recurring revenues and deep integration with major semiconductor manufacturers. The recurring revenue base is expanding as wafer demand outpaces supply, with ONTO's installed base and backlog growing alongside industry capacity. The Dragonfly G5 launch is driving unprecedented demand, positioning ONTO for 30% annual revenue growth and significant gross margin expansion through 2030.
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Onto Innovation (ONTO) closed the most recent trading day at $250.13, moving 11.07% from the previous trading session.
Onto Innovation Inc. (ONTO) Presents at Citi's 2026 Global TMT Conference Transcript