Onto Innovation Inc. (NASDAQ: ONTO) posted a strong second quarter in 2026, with revenue rising 35.3% year over year to $343.1 million. Gross profit climbed 50.1% to $183.3 million, while operating profit nearly doubled to $63.6 million, showing meaningful improvement in profitability.
Net income attributable to common shareholders increased 77.2% to $60.1 million, and diluted earnings per share came in at $1.21, up 75.4% from a year earlier. Operating cash flow also improved to $61.5 million, reflecting continued cash generation from the business.
- Revenue: $343.1 million, up 35.3% year over year
- Gross profit: $183.3 million, up 50.1%
- Operating profit: $63.6 million, up 97.1%
- Net income: $60.1 million, up 77.2%
- Diluted EPS: $1.21, up 75.4%
The quarter also featured a solid cash position, with cash and cash equivalents reaching $346.1 million. The stock moved sharply higher after the release, rising 13.51% since the market close.
Note: This financials data is sourced from a third-party provider and has not been independently verified by Quiver.
Onto Innovation Inc. Hedge Fund Activity
We have seen 339 institutional investors add shares of Onto Innovation Inc. stock to their portfolio, and 226 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- ANDAR CAPITAL MANAGEMENT HK LTD added 26,035,050 shares (+33378.3%) to their portfolio in Q2 2026, for an estimated $9,852,964,672
- POINT72 ASSET MANAGEMENT, L.P. added 818,891 shares (+212.8%) to their portfolio in Q1 2026, for an estimated $167,929,977
- FRANKLIN RESOURCES INC removed 773,798 shares (-57.2%) from their portfolio in Q1 2026, for an estimated $158,682,755
- PICTET ASSET MANAGEMENT HOLDING SA added 699,880 shares (+4284.3%) to their portfolio in Q2 2026, for an estimated $264,869,586
- WELLINGTON MANAGEMENT GROUP LLP removed 674,656 shares (-55.4%) from their portfolio in Q1 2026, for an estimated $138,351,705
- JANE STREET GROUP, LLC added 602,673 shares (+29909.3%) to their portfolio in Q1 2026, for an estimated $123,590,152
- BLACKROCK, INC. added 602,439 shares (+12.2%) to their portfolio in Q1 2026, for an estimated $123,542,165
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard. You can access data on hedge funds moves and 13F filings through the Quiver Quantitative API 13F endpoint.
Onto Innovation Inc. Government Contracts
We have seen $2,767,060 of award payments to $ONTO over the last year.
Here are some of the awards which we have have seen pay out the most over the last year:
- GEOPHYSICAL FIELD SYSTEMS TECHNOLOGY REFRESH: $673,266
- SEISMIC EQUIPMENT: $310,216
- SEISMIC EQUIPMENT: $197,349
- SEISMIC EQUIPMENT: $192,392
To track government contracts to publicy traded companies, check out Quiver Quantitative's government contracts dashboard. You can access data on government contracts through the Quiver Quantitative API government contracts endpoint.
Onto Innovation Inc. Analyst Ratings
Wall Street analysts have issued reports on $ONTO in the last several months. We have seen 1 firms issue buy ratings on the stock, and 0 firms issue sell ratings.
Here are some recent analyst ratings:
- Deutsche Bank issued a "Buy" rating on 06/05/2026
To track analyst ratings and price targets for Onto Innovation Inc., check out Quiver Quantitative's $ONTO forecast page.
Onto Innovation Inc. Price Targets
Multiple analysts have issued price targets for $ONTO recently. We have seen 9 analysts offer price targets for $ONTO in the last 6 months, with a median target of $350.0.
Here are some recent targets:
- C.J. Muse from Cantor Fitzgerald set a target price of $410.0 on 06/29/2026
- Edward Yang from Oppenheimer set a target price of $450.0 on 06/22/2026
- Nazerke Baimukan from Freedom Broker set a target price of $370.0 on 06/17/2026
- Melissa Weathers from Deutsche Bank set a target price of $350.0 on 06/05/2026
- Charles Shi from Needham set a target price of $330.0 on 05/06/2026
- Craig Ellis from B. Riley Securities set a target price of $330.0 on 04/17/2026
- Mark Lipacis from Evercore ISI Group set a target price of $315.0 on 04/17/2026
