8 stories mentioning ONTO
Every FINWIRES story that references ONTO, newest first.
Onto Innovation (ONTO) has an average rating of Buy and mean price target of $349.44, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)
Onto Innovation's (ONTO) recent 15% pullback, largely driven by convertible-related hedging, created an attractive entry point based on increased confidence in the company's fundamental upside, Oppenheimer said in a note Monday.In a recent management meeting, the tone was positive and confident against high buy-side expectations as management reiterated its expectation to outgrow the wafer fabrication equipment market in 2027 and remained upbeat on Dragonfly G5 AI platform growth, particularly in 2027, according to the note.The Rigaku deal and convertible notes offering are expected to mostly offset each other's impact on 2026 earnings per share, but the deal has strong long-term strategic and financial benefits, Oppenheimer said.The brokerage also highlighted that Atlas G6 is gaining GAA/DRAM/TSV traction, 3Di benefits from shrinking bumps, JetStep/Firefly panel packaging ramps at two AI suppliers, Rigaku adds longer-term X-ray/optical hybrid metrology upside, and Dragonfly G5 2.5D logic qualification removes Onto's largest valuation overhang.Oppenheimer kept an outperform rating on Onto Innovation with a price target of $370.Shares of Onto Innovation were down more than 2% in Monday trading.Price: $251.48, Change: $-6.76, Percent Change: -2.62%
Onto Innovation (ONTO) plans to offer $1.1 billion of convertible senior notes due 2031 in a private placement, the company said Monday.Initial purchasers will be granted an option to buy an additional $165 million of notes.Proceeds will be used for capped call transactions, up to $300 million in share repurchases, and general corporate purposes, including potential financing related to its planned acquisition of a 27% stake in Rigaku, the company added.Shares of Onto Innovation were down 3.6% in Monday's premarket trading.
Onto Innovation's (ONTO) acquisition of a 27% stake in X-ray hardware firm Rigaku strengthens its competitive edge in next-generation semiconductor process control, Oppenheimer said in a note Monday.The company is anticipating that X-ray metrology will become much more important, and combining its software with Rigaku's hardware will enable it to capture a core position in the metrology category before it fully matures, analysts said.Onto's investment in Rigaku, valued at about $710 million, is expected to be financially accretive by late 2026, and give Onto a board seat on Rigaku for strategic alignment, according to the note.Advanced V-NAND and DRAM customers have already adopted the integrated systems, while there is growing interest from other logic and memory manufacturers, analysts said.Oppenheimer reiterated its outperform rating on the stock, with a $350 price target.Price: $291.76, Change: $-3.33, Percent Change: -1.13%
The broad market exchange-traded fund SPDR S&P 500 ETF Trust (SPY) was up 0.2% and the actively traded Invesco QQQ Trust (QQQ) advanced 0.3% in Tuesday's premarket activity, amid a second round of talks between the US and Iran.US stock futures were also higher, with S&P 500 Index futures up 0.4%, Dow Jones Industrial Average futures advancing 0.6%, and Nasdaq futures gaining 0.4% before the start of regular trading.The Philadelphia Federal Reserve Bank's monthly non-manufacturing activity index rose to minus 16.5 in April from minus 23.9 in the previous month, compared with expectations for a small increase to a minus 19.8 reading in a survey compiled by Bloomberg as of 7:35 am ET, indicating a slower pace of contraction in the sector.US retail sales rose 1.7% in March, above expectations for a 1.4% increase and compared with a prior 0.7% gain.The pending home sales data for March and the business inventories data for February will be released at 10:00 am ET.Fed Governor Christopher Waller is slated to speak on Tuesday.In premarket action, bitcoin advanced by 0.4%. Among cryptocurrency ETFs, the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 0.5% higher, Ether ETF (EETH) retreated 0.2%, and Bitcoin & Ether Market Cap Weight ETF (BETH) declined by 0.3%.Power Play:Health CareThe State Street Health Care Select Sector SPDR ETF (XLV) gained 0.8%, the Vanguard Health Care Index Fund (VHT) was 0.9% higher, while the iShares US Healthcare ETF (IYH) rose 2%. The iShares Biotechnology ETF (IBB) advanced 0.02%.UnitedHealth (UNH) stock was up more than 7% premarket after the company reported higher Q1 adjusted earnings and revenue.Winners and Losers:FinancialThe State Street Financial Select Sector SPDR ETF (XLF) advanced 0.4%. Direxion Daily Financial Bull 3X Shares (FAS) was up 1.2%, while its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), was 0.8% lower.MSCI (MSCI) shares were up more than 4% pre-bell after the company reported higher Q1 adjusted earnings and revenue.TechnologyThe State Street Technology Select Sector SPDR ETF (XLK) advanced 0.3%, and the iShares US Technology ETF (IYW) was 0.6% higher, while the iShares Expanded Tech Sector ETF (IGM) was up 0.4%. Among semiconductor ETFs, the State Street SPDR S&P Semiconductor ETF (XSD) increased by 1.9%, while the iShares Semiconductor ETF (SOXX) rose by 1%.Onto Innovation (ONTO) shares were up more than 2% in Tuesday's premarket activity after the company said it plans for a $710 million equity investment in Rigaku to advance the so-called process control services for semiconductor manufacturing.ConsumerThe State Street Consumer Staples Select Sector SPDR ETF (XLP) retreated by 0.2% and the Vanguard Consumer Staples Index Fund ETF Shares (VDC) was 0.3% lower. The iShares US Consumer Staples ETF (IYK) was inactive. The State Street Consumer Discretionary Select Sector SPDR ETF (XLY) gained 0.9%. The VanEck Retail ETF (RTH) was inactive, while the State Street SPDR S&P Retail ETF (XRT) was 0.6% higher.D.R. Horton (DHI) shares were up more than 6% pre-bell after the company reported higher-than-expected fiscal Q2 net income and revenue.IndustrialThe State Street Industrial Select Sector SPDR ETF (XLI) slipped by 0.1%, while the Vanguard Industrials Index Fund (VIS) retreated 0.2% and the iShares US Industrials ETF (IYJ) was inactive.Grupo Aeroportuario del Pacifico (PAC) stock was down more than 1% before the opening bell after the company said its Q1 passenger traffic dropped by 5.5% year-over-year, even as its net income and revenue were higher.EnergyThe iShares US Energy ETF (IYE) was up 0.1%, while the State Street Energy Select Sector SPDR ETF (XLE) was up by 0.2%.Shell (SHEL) stock was up 0.7% before the opening bell. Reuters reported, citing court documents, that the company faces a fresh lawsuit by a Dutch climate activist organization demanding it immediately end its investments in new oil and gas projects.CommoditiesFront-month US West Texas Intermediate crude oil retreated by 0.4% to $89.29 per barrel on the New York Mercantile Exchange. Natural gas declined by 0.8% to $2.67 per 1 million British Thermal Units. The United States Oil Fund (USO) increased by 0.9%, while the United States Natural Gas Fund (UNG) was 0.4% higher.Gold futures for May were down by 0.4% to $4,812.10 an ounce on the Comex. Silver futures retreated by 1.1% to $79.73 an ounce. SPDR Gold Shares (GLD) was 0.4% lower, and the iShares Silver Trust (SLV) fell by 0.7%.
Onto Innovation's (ONTO) turnaround looks "strong," with momentum building across artificial intelligence, including memory, with recent Dragonfly G5 platform qualification removing the stock's largest valuation overhand, Oppenheimer said in a Friday note.Launched just last month, the company's Dragonfly G5 platform is seeing rapid qualification and adoption and is already winning key high bandwidth memory and logic orders and further "re-burnishes Onto's leadership" in process control for AI chips, the note said.Oppenheimer also raised its 2026 revenue and earnings per share estimates by 6% and 2027 expectations by 10%, with the company reporting preliminary Q1 revenue of $292 million, above prior guidance of $275 million to $285 million and forecasting Q2 revenue to be in the range of $320 million to $330 million.The firm raised its price target on Onto Innovation to outperform with a price target of $350.Price: $284.46, Change: $+17.50, Percent Change: +6.56%
Onto Innovation (ONTO) has an average rating of Buy and mean price target of $312.14, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)
Onto Innovation (ONTO) has an average rating of overweight and mean price target of $270.71, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)Price: $256.07, Change: $-1.20, Percent Change: -0.47%