On July 9, Onto Innovation rose 5.85% in pre-market trading, trading at $308.5/share, with turnover of $1.2834 million. The stock continues to recover alongside the broader semiconductor equipment sector following a sharp pullback earlier in the week.
The rally comes as Morgan Stanley recently raised its wafer fab equipment (WFE) market projections significantly, lifting estimates to $202 billion from $191 billion for 2027 and to $227 billion from $215 billion for 2028, with market expectations now reaching approximately $250 billion for 2028. Notably, Morgan Stanley singled out Onto Innovation as presenting substantial upside from underappreciated 2027 earnings, citing the company's exposure to expanding leading-edge customers and memory production growth.
Within the Semiconductor Equipment sector, the overall trend is broadly positive. Among individual stocks, Applied Materials up 4.89%, KLA-Tencor up 4.8%, Lam Research up 4.82%, ASML Holding up 1.84%, and Teradyne up 5.25%.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
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