On September 22, Onto Innovation Inc. rose 5.12% in regular trading, trading at 276.65 USD/share, with turnover of approximately $102 million. The stock advanced alongside a broad rally across the semiconductor equipment sector.
The semiconductor equipment sector saw collective strength, with AXT up 12.22%, Lam Research up 4.57%, Applied Materials up 4.07%, KLA Corporation up 3.76%, and ASML Holding up 1.68%, reflecting broad-based industry momentum. Jefferies recently raised its global wafer fabrication equipment market size forecasts, projecting $152 billion, $200 billion, and $253 billion for the next three years respectively, driven by AI and HBM-related advanced logic and memory capital expenditure.
Fundamentally, Onto Innovation Inc. reported Q2 adjusted EPS of $1.93, beating the consensus estimate of $1.68 by approximately 15%, while revenue of $343.1 million surged 35% year-over-year and exceeded the $325.3 million estimate. Q3 guidance of $2.18–$2.38 in adjusted EPS also far surpassed the $1.93 analyst expectation. Additionally, the company completed its acquisition of a 27% stake in Rigaku, strengthening its X-ray semiconductor metrology capabilities. Goldman Sachs initiated coverage with a Buy rating and a $400 price target, while Morgan Stanley maintains an Overweight rating with a $383 target.
(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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