How to Buy Onto Innovation Stock
Onto Innovation Inc
Onto Innovation Inc. designs, develops, manufactures, and supports process control tools that performs macro-defect inspection and metrology, lithography systems, and process control analytical software used by semiconductor and advanced packaging device manufacturers worldwide.
Onto Innovation stock last closed at $127.52, down 1.33% from the previous day, and has increased 95.67% in one year. It has overperformed other stocks in the Semiconductor Equipment & Materials industry by 0.49 percentage points. Onto Innovation stock is currently +127.63% from its 52-week low of $56.02, and -10.36% from its 52-week high of $142.27.
There are currently 49.07M shares of ONTO outstanding. The market cap of ONTO is $6.26B. In the past 24 hours, 429,898 ONTO shares were traded.
How to Buy Onto Innovation Stock
Wondering how to invest in Onto Innovation stock? Here's how.
- Choose where to buy Onto Innovation stock: You need to decide on an online brokerage, but don't worry - we've tested dozens of stock brokerages and apps to help you choose where to buy Onto Innovation stock.
- Open your brokerage account: Sign up for 0% commission trading with the highest-rated brokerage we've selected.
- Fund your brokerage account: Pick your method of payment and add your information.
- Evaluate Onto Innovation stock: The Onto Innovation ticker symbol is ONTO. Is Onto Innovation stock a good investment? Should you buy shares of ONTO? How do ONTO's underlying business fundamentals look? Do top analysts think Onto Innovation is a good buy? Why has ONTO's stock price moved recently? (Hint: Our stock research tools can help you decide if ONTO is a good stock to buy).
- Place your ONTO buy order: Decide if you will purchase ONTO shares at the current market price or use a limit order to purchase ONTO stock at a particular price.
- Track your ONTO position: Create a watchlist to important updates regarding your new investment in Onto Innovation shares.
Step 1: Choose where to buy Onto Innovation stock
You will need a brokerage account in order to access the NYSE market and buy ONTO shares.
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Open eToro AccountStep 2: Open your brokerage account
Now that you've chosen the right brokerage, it's time to fill out some personal info so you can buy ONTO today.
How to Open a New Investment Account on eToro
- Click here to get started.
- Provide your personal data to open a new brokerage account.
- Send your application by clicking the "Create Account" button.
Step 3: Fund your brokerage account
Now that you have opened your account on one of the most highly reviewed stock apps, you can securely and quickly fund your account:
Check out the video below to see the process of depositing funds into your new investment account.
Step 4: Evaluate Onto Innovation stock
Once you have chosen the best place to buy Onto Innovation stock, it's critical to evaluate their stock prior to buying, so you truly wrap your head around the risk as well as the opportunity.
Onto Innovation Metrics
Onto Innovation Zen Score
WallStreetZen was built to help average investors do more accurate fundamental analysis in less time.
You can see all of the due diligence checks on ONTO's stock page.
Is ONTO stock undervalued or overvalued?
Analysts use a variety of different financial metrics, analyses, models, and charts to gauge ONTO's intrinsic value.
Using relative valuations metrics:
- ONTO could be overvalued based on its P/E ratio of 36.12x, relative to Semiconductor Equipment & Materials industry P/E ratio of 26.44x
- ONTO could be undervalued based on its P/B ratio of 3.78x, relative to Semiconductor Equipment & Materials industry P/B ratio of 8.69x
- ONTO could be overvalued based on its PEG ratio of 4.9x
You can do additional valuation research on ONTO's stock here.
ONTO Financial Health Summary
Passed Financial Due Diligence Checks:
- Total ONTO debt is lower than 5 years ago, relative to shareholder equity.
- ONTO earnings of $185.47M is not sufficient to cover its interest payments.
- There are more short-term assets than short-term liabilities on the ONTO balance sheet.
- ONTO's operating cash flow of $163.07M allows it to safely service it's debt of $0.00.
- There are more short-term assets than long-term liabilities on the ONTO balance sheet.
- ONTO has a low debt to equity ratio of 0.1.
Failed Financial Due Diligence Checks:
- ONTO profit margin has gone down from 20.4% to 19.3% in the past year.
Is it a good time to buy ONTO stock, according to Wall Street analysts?
Out of 3 Equities analysts who track ONTO, the consensus analyst rating on ONTO is a Strong Buy
It's important to keep in mind that analyst forecasts are not stock recommendations, nor are they investment advice.
Latest ONTO Analyst Upgrades/Downgrades
Mark Miller, a top 7% analyst from Benchmark maintains ONTO with a strong buy rating and raises their ONTO price target from $118.00 to $125.00, on Aug 11, 2023.
Benchmark's Mark Miller raised their price target on Onto Innovation (NYSE: ONTO) by 5.9% from $118 to $125 on 2023/08/11. The analyst maintained their Strong Buy rating on the stock.
Onto Innovation's "light" Q2 2023 results, released on 2023/08/10, can be explained by "the delay of shipment of three litho tools into Q3," Miller said.
Benchmark now estimates Onto's EPS to grow 33% Y/Y to $5.02 on sales of $949M, the analyst told readers.
Earnings Report
For Q2 2023, Onto Innovation reported:
- EPS of $0.79, which missed the Zacks Consensus Estimate by 4.8% and, by 38.3%, Q2 2022's $1.28.
- Revenue of $190.7M, which missed the Zacks Consensus Estimate by 6.1% and Q2 2022's $256.3M by 25.6%.
For Q3 2023, management guided:
- Revenue of $205M to $225M.
- EPS of $0.85 to $1.05.
CEO Michael Plisinski commented: “During the quarter we saw several positive affirmations of our strategy.
"Our leading position among the top five customers for inspection of heterogeneous packaging and HBM to support the increasing AI end market resulted in solid demand in the quarter and positioned Onto for further inspection growth throughout the year.
"Demand for our solutions in power semiconductors continued to grow, and we now have a backlog of orders for our recently announced Element™ materials metrology and Atlas® OCD metrology products specifically designed to support the power market.”
“Although our advanced node customers remain at significantly reduced spending levels, we have several productive engagements with their R&D teams, resulting in new-tool-of-record positions for our films metrology systems and integrated metrology modules, which should contribute to broader growth when production spending resumes.”
Brian Chin, a top 13% analyst from Stifel Nicolaus maintains ONTO with a strong buy rating and raises their ONTO price target from $124.00 to $135.00, on Aug 8, 2023.
Vedvati Shrotre, a top 27% analyst from Jefferies maintains ONTO with a strong buy rating and raises their ONTO price target from $100.00 to $123.00, on Jun 5, 2023.
You can dive deeper into what analysts are saying on the Onto Innovation stock forecast page.
ONTO Technical Indicators
Is ONTO Growing Revenue?
Last year, ONTO earnings were $173.39M. In the past five year, ONTO's earnings have grown by 10.12% per year. This was slower than the Semiconductor Equipment & Materials industry average of 22.94%.
Last year, ONTO revenue was $897.35M. During the past 5 year, ONTO's revenue has gone up by 24.31% per year. This was faster than the Semiconductor Equipment & Materials industry average of 15.94%.
Dig into ONTO's earnings and revenue performance here.
Latest Insiders Trades at ONTO
In the past 12 months, executives and large shareholders at ONTO have sold more shares than they have bought.
Robert Fiordalice, SVP GM Metrology BU of ONTO, was the latest ONTO insider to sell. They sold $20,674.44 worth of ONTO shares on Sep 15, 2023.
Research more about who owns ONTO shares here.
Does ONTO stock generate passive income?
No, Onto Innovation doesn't provide an income stream by paying out dividends.
ONTO Social Trading Data
One of the major reasons eToro is our top-rated brokerage is because of its social trading community.
Click below to find out what other investors have to say.
Step 5: Place your ONTO buy order
There are two primary order types:
- Market order: A market order is an order to buy or sell a security at the best possible price.
Market orders are mostly sufficient. - Limit order: A limit order is an order to buy or sell a security at a specific price (or better).
If you want to ensure you're buying or selling at a given dollar amount limit, place a limit order.
Click the Open Trade button and your broker will place the order.
If you require more help buying stocks on eToro, watch the helpful video below:
Step 6: Track your ONTO position
Now that you own some shares in ONTO, you'll want to keep up with your stock purchase.
Start a watchlist to see the latest developments about your ONTO stock.
ONTO Feed
How to Buy Stock in Onto Innovation
To summarize, here are the 6 steps you need to take to buy Onto Innovation stock right now:
- Choose where to buy Onto Innovation stock
- Open your brokerage account
- Fund your brokerage account
- Evaluate Onto Innovation stock
- Place your ONTO buy order
- Track your ONTO position
If you need a online brokerage, eToro is our favorite option.
Get Started with eToro TodayIf you would like to monitor your investment in Onto Innovation, create your watchlist below.
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