On August 11, Onto Innovation Inc. rose 5.29% in regular trading, trading at $307.09/share, with turnover of $9.72 million. The stock rebounded sharply following a roughly 5% pullback in the prior session triggered by profit-taking after the company announced its acquisition of a 27% stake in Rigaku for 113.08 billion Japanese yen.
The broader semiconductor equipment sector rallied notably, with ASML up 4.06%, Teradyne up 4.51%, KLA Corporation up 4.28%, and Lam Research up 2.81%, providing strong sector tailwinds. Meanwhile, the company's recently reported Q2 results continue to underpin sentiment — adjusted EPS of $1.93 beat the consensus estimate of $1.68 by approximately 14.9%, while revenue of $343.1 million also surpassed the $325.3 million expectation. Q3 EPS guidance of $2.18 to $2.38 significantly exceeded the Street's $1.93 estimate. Morgan Stanley maintained its Overweight rating and raised its price target to $383 from $371, reflecting confidence in the company's growth trajectory.
(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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