Onto Innovation (ONTO)
Market Price (9/27/2026): $288.5 | Market Cap: $14.3 BilSector: Information Technology | Industry: Semiconductor Materials & Equipment
Onto Innovation (ONTO)
Market Price (9/27/2026): $288.5Market Cap: $14.3 BilSector: Information TechnologyIndustry: Semiconductor Materials & Equipment
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 24%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 23% Megatrend and thematic driversMegatrends include Artificial Intelligence, Autonomous Technologies, and Automation & Robotics. Themes include AI Chips, Show more. | Expensive valuation multiplesP/EBITPrice/EBIT or Price/(Operating Income) ratio is 92x, P/EPrice/Earnings or Price/(Net Income) is 107x Stock price has recently run up significantly12M Rtn12 month market price return is 125% Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -3.0% Key risksONTO key risks include [1] significant revenue concentration from a few key customers and [2] geopolitical factors disrupting its international supply chain and manufacturing operations. |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 24%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 23% |
| Megatrend and thematic driversMegatrends include Artificial Intelligence, Autonomous Technologies, and Automation & Robotics. Themes include AI Chips, Show more. |
| Expensive valuation multiplesP/EBITPrice/EBIT or Price/(Operating Income) ratio is 92x, P/EPrice/Earnings or Price/(Net Income) is 107x |
| Stock price has recently run up significantly12M Rtn12 month market price return is 125% |
| Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -3.0% |
| Key risksONTO key risks include [1] significant revenue concentration from a few key customers and [2] geopolitical factors disrupting its international supply chain and manufacturing operations. |
Qualitative Assessment
AI Analysis | Feedback
Updated on 9/22/2026
Onto Innovation (ONTO) stock has gained about 10% since 5/31/2026 because of the following key factors:
1. Exceptional Fiscal Q2 2026 Earnings and Robust Guidance.
Onto Innovation reported strong financial results for its fiscal Q2 2026 (ended June 30, 2026), with diluted earnings per share (EPS) of $1.93, exceeding analyst estimates of $1.69 by 14.20%. The company also achieved record quarterly revenue of $343.1 million, a 35.3% year-over-year increase, surpassing the consensus estimate of $325.29 million. Following this impressive performance, management raised its second-half fiscal 2026 revenue growth outlook to 25% or more above the first half, contributing to an immediate stock jump of 9.42% in after-hours trading after the August 6, 2026, earnings release.
2. Surging Demand in AI-Driven Advanced Nodes and Packaging.
The company experienced record demand across its advanced nodes business, which saw a 50% sequential increase in revenue, and achieved all-time high revenue in Specialty Devices and Advanced Packaging during fiscal Q2 2026. This growth was primarily fueled by strengthening customer demand for advanced logic and memory components critical for next-generation artificial intelligence (AI) and high-performance computing devices, including 2.5D logic and high-bandwidth memory (HBM) applications. This trend mirrored the broader semiconductor industry, which reported a 23% year-over-year increase in global semiconductor equipment billings to US$40.53 billion in fiscal Q2 2026, largely driven by accelerating AI investments.
Show more
Onto Innovation (ONTO) stock has gained about 10% since 5/31/2026 because of the following key factors:
1. Exceptional Fiscal Q2 2026 Earnings and Robust Guidance.
Onto Innovation reported strong financial results for its fiscal Q2 2026 (ended June 30, 2026), with diluted earnings per share (EPS) of $1.93, exceeding analyst estimates of $1.69 by 14.20%. The company also achieved record quarterly revenue of $343.1 million, a 35.3% year-over-year increase, surpassing the consensus estimate of $325.29 million. Following this impressive performance, management raised its second-half fiscal 2026 revenue growth outlook to 25% or more above the first half, contributing to an immediate stock jump of 9.42% in after-hours trading after the August 6, 2026, earnings release.
2. Surging Demand in AI-Driven Advanced Nodes and Packaging.
The company experienced record demand across its advanced nodes business, which saw a 50% sequential increase in revenue, and achieved all-time high revenue in Specialty Devices and Advanced Packaging during fiscal Q2 2026. This growth was primarily fueled by strengthening customer demand for advanced logic and memory components critical for next-generation artificial intelligence (AI) and high-performance computing devices, including 2.5D logic and high-bandwidth memory (HBM) applications. This trend mirrored the broader semiconductor industry, which reported a 23% year-over-year increase in global semiconductor equipment billings to US$40.53 billion in fiscal Q2 2026, largely driven by accelerating AI investments.
Show more
Updated on 9/22/2026
Onto Innovation (ONTO) stock has gained about 10% since 5/31/2026 because of the following key factors:
1. Exceptional Fiscal Q2 2026 Earnings and Robust Guidance.
Onto Innovation reported strong financial results for its fiscal Q2 2026 (ended June 30, 2026), with diluted earnings per share (EPS) of $1.93, exceeding analyst estimates of $1.69 by 14.20%. The company also achieved record quarterly revenue of $343.1 million, a 35.3% year-over-year increase, surpassing the consensus estimate of $325.29 million. Following this impressive performance, management raised its second-half fiscal 2026 revenue growth outlook to 25% or more above the first half, contributing to an immediate stock jump of 9.42% in after-hours trading after the August 6, 2026, earnings release.
2. Surging Demand in AI-Driven Advanced Nodes and Packaging.
The company experienced record demand across its advanced nodes business, which saw a 50% sequential increase in revenue, and achieved all-time high revenue in Specialty Devices and Advanced Packaging during fiscal Q2 2026. This growth was primarily fueled by strengthening customer demand for advanced logic and memory components critical for next-generation artificial intelligence (AI) and high-performance computing devices, including 2.5D logic and high-bandwidth memory (HBM) applications. This trend mirrored the broader semiconductor industry, which reported a 23% year-over-year increase in global semiconductor equipment billings to US$40.53 billion in fiscal Q2 2026, largely driven by accelerating AI investments.
3. Positive Analyst Sentiment and Price Target Upgrades.
Throughout the period, analysts maintained a "Strong Buy" consensus rating for Onto Innovation. As of September 11, 2026, the average analyst price target stood at $386.36, suggesting a 58.24% potential upside from the stock's then-current trading price. This optimistic outlook stemmed from increasing analyst confidence in Onto Innovation's earnings potential, underscored by its crucial role in providing process control solutions for complex semiconductor packaging and new device architectures that are essential for the evolving semiconductor landscape.
4. Strategic Product Innovation and Partnerships.
Onto Innovation's new product launches, such as the Dragonfly G5 process control system designed for advanced packaging, particularly targeting HBM4 and 2.5D AI packaging applications, significantly boosted demand. Furthermore, the company completed a strategic investment of approximately US$720 million for a 27% minority equity stake in Rigaku Holdings Corporation in the second half of fiscal 2026. This investment strengthened their collaboration to develop next-generation X-ray-based process control solutions for semiconductor manufacturing, enhancing Onto Innovation's market position.
Show less
Onto Innovation (ONTO) stock has gained about 10% since 5/31/2026 because of the following key factors:
1. Exceptional Fiscal Q2 2026 Earnings and Robust Guidance.
Onto Innovation reported strong financial results for its fiscal Q2 2026 (ended June 30, 2026), with diluted earnings per share (EPS) of $1.93, exceeding analyst estimates of $1.69 by 14.20%. The company also achieved record quarterly revenue of $343.1 million, a 35.3% year-over-year increase, surpassing the consensus estimate of $325.29 million. Following this impressive performance, management raised its second-half fiscal 2026 revenue growth outlook to 25% or more above the first half, contributing to an immediate stock jump of 9.42% in after-hours trading after the August 6, 2026, earnings release.
2. Surging Demand in AI-Driven Advanced Nodes and Packaging.
The company experienced record demand across its advanced nodes business, which saw a 50% sequential increase in revenue, and achieved all-time high revenue in Specialty Devices and Advanced Packaging during fiscal Q2 2026. This growth was primarily fueled by strengthening customer demand for advanced logic and memory components critical for next-generation artificial intelligence (AI) and high-performance computing devices, including 2.5D logic and high-bandwidth memory (HBM) applications. This trend mirrored the broader semiconductor industry, which reported a 23% year-over-year increase in global semiconductor equipment billings to US$40.53 billion in fiscal Q2 2026, largely driven by accelerating AI investments.
3. Positive Analyst Sentiment and Price Target Upgrades.
Throughout the period, analysts maintained a "Strong Buy" consensus rating for Onto Innovation. As of September 11, 2026, the average analyst price target stood at $386.36, suggesting a 58.24% potential upside from the stock's then-current trading price. This optimistic outlook stemmed from increasing analyst confidence in Onto Innovation's earnings potential, underscored by its crucial role in providing process control solutions for complex semiconductor packaging and new device architectures that are essential for the evolving semiconductor landscape.
4. Strategic Product Innovation and Partnerships.
Onto Innovation's new product launches, such as the Dragonfly G5 process control system designed for advanced packaging, particularly targeting HBM4 and 2.5D AI packaging applications, significantly boosted demand. Furthermore, the company completed a strategic investment of approximately US$720 million for a 27% minority equity stake in Rigaku Holdings Corporation in the second half of fiscal 2026. This investment strengthened their collaboration to develop next-generation X-ray-based process control solutions for semiconductor manufacturing, enhancing Onto Innovation's market position.
Show less
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Stock Movement Drivers
Fundamental Drivers
The 11.4% change in ONTO stock from 5/31/2026 to 9/26/2026 was primarily driven by a 14.7% change in the company's Net Income Margin (%).| (LTM values as of) | 5312026 | 9262026 | Change |
|---|---|---|---|
| Stock Price ($) | 258.24 | 287.64 | 11.4% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 1,031 | 1,120 | 8.7% |
| Net Income Margin (%) | 10.3% | 11.8% | 14.7% |
| P/E Multiple | 120.7 | 107.2 | -11.2% |
| Shares Outstanding (Mil) | 50 | 49 | 0.7% |
| Cumulative Contribution | 11.4% |
Market Drivers
5/31/2026 to 9/26/2026| Return | Correlation | |
|---|---|---|
| ONTO | 11.4% | |
| Market (SPY) | 2.2% | 56.8% |
| Sector (XLK) | 2.9% | 80.3% |
Fundamental Drivers
The 33.2% change in ONTO stock from 2/28/2026 to 9/26/2026 was primarily driven by a 37.6% change in the company's P/E Multiple.| (LTM values as of) | 2282026 | 9262026 | Change |
|---|---|---|---|
| Stock Price ($) | 215.89 | 287.64 | 33.2% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 1,005 | 1,120 | 11.4% |
| Net Income Margin (%) | 13.6% | 11.8% | -13.0% |
| P/E Multiple | 77.9 | 107.2 | 37.6% |
| Shares Outstanding (Mil) | 49 | 49 | -0.1% |
| Cumulative Contribution | 33.2% |
Market Drivers
2/28/2026 to 9/26/2026| Return | Correlation | |
|---|---|---|
| ONTO | 33.2% | |
| Market (SPY) | 13.0% | 57.8% |
| Sector (XLK) | 41.8% | 74.8% |
Fundamental Drivers
The 171.4% change in ONTO stock from 8/31/2025 to 9/26/2026 was primarily driven by a 313.1% change in the company's P/E Multiple.| (LTM values as of) | 8312025 | 9262026 | Change |
|---|---|---|---|
| Stock Price ($) | 106.00 | 287.64 | 171.4% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 1,036 | 1,120 | 8.1% |
| Net Income Margin (%) | 19.3% | 11.8% | -38.6% |
| P/E Multiple | 25.9 | 107.2 | 313.1% |
| Shares Outstanding (Mil) | 49 | 49 | -1.0% |
| Cumulative Contribution | 171.4% |
Market Drivers
8/31/2025 to 9/26/2026| Return | Correlation | |
|---|---|---|
| ONTO | 171.4% | |
| Market (SPY) | 20.9% | 56.5% |
| Sector (XLK) | 50.4% | 71.0% |
Fundamental Drivers
The 107.0% change in ONTO stock from 8/31/2023 to 9/26/2026 was primarily driven by a 173.0% change in the company's P/E Multiple.| (LTM values as of) | 8312023 | 9262026 | Change |
|---|---|---|---|
| Stock Price ($) | 138.98 | 287.64 | 107.0% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 897 | 1,120 | 24.8% |
| Net Income Margin (%) | 19.3% | 11.8% | -38.7% |
| P/E Multiple | 39.3 | 107.2 | 173.0% |
| Shares Outstanding (Mil) | 49 | 49 | -0.9% |
| Cumulative Contribution | 107.0% |
Market Drivers
8/31/2023 to 9/26/2026| Return | Correlation | |
|---|---|---|
| ONTO | 107.0% | |
| Market (SPY) | 77.8% | 58.6% |
| Sector (XLK) | 127.9% | 69.5% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| ONTO Return | 113% | -33% | 125% | 9% | -5% | 77% | 488% |
| Peers Return | 46% | -38% | 65% | 2% | 75% | 83% | 382% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 13% | 105% |
Monthly Win Rates [3] | |||||||
| ONTO Win Rate | 83% | 42% | 75% | 58% | 67% | 67% | |
| Peers Win Rate | 65% | 33% | 63% | 47% | 62% | 67% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 56% | |
Max Drawdowns [4] | |||||||
| ONTO Max Drawdown | -21% | -44% | -22% | -33% | -61% | -42% | |
| Peers Max Drawdown | -24% | -55% | -22% | -35% | -39% | -45% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: KLAC, AMAT, LRCX, MKSI, FORM.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 9/25/2026 (YTD)
How Low Can It Go
| Event | ONTO | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -48.2% | -18.8% |
| % Gain to Breakeven | 93.1% | 23.1% |
| Time to Breakeven | 241 days | 79 days |
| 2024 Yen Carry Trade Unwind | ||
| % Loss | -33.0% | -7.8% |
| % Gain to Breakeven | 49.4% | 8.5% |
| Time to Breakeven | 614 days | 18 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -43.0% | -24.5% |
| % Gain to Breakeven | 75.5% | 32.4% |
| Time to Breakeven | 224 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -45.9% | -33.7% |
| % Gain to Breakeven | 85.0% | 50.9% |
| Time to Breakeven | 138 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -28.9% | -19.2% |
| % Gain to Breakeven | 40.7% | 23.8% |
| Time to Breakeven | 128 days | 105 days |
| 2016-2017 Trump Reflation Bond Selloff | ||
| % Loss | -11.9% | -3.7% |
| % Gain to Breakeven | 13.5% | 3.9% |
| Time to Breakeven | 25 days | 6 days |
In The Past
Onto Innovation's stock fell -48.2% during the 2025 US Tariff Shock. Such a loss loss requires a 93.1% gain to breakeven.
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| Event | ONTO | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -48.2% | -18.8% |
| % Gain to Breakeven | 93.1% | 23.1% |
| Time to Breakeven | 241 days | 79 days |
| 2024 Yen Carry Trade Unwind | ||
| % Loss | -33.0% | -7.8% |
| % Gain to Breakeven | 49.4% | 8.5% |
| Time to Breakeven | 614 days | 18 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -43.0% | -24.5% |
| % Gain to Breakeven | 75.5% | 32.4% |
| Time to Breakeven | 224 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -45.9% | -33.7% |
| % Gain to Breakeven | 85.0% | 50.9% |
| Time to Breakeven | 138 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -28.9% | -19.2% |
| % Gain to Breakeven | 40.7% | 23.8% |
| Time to Breakeven | 128 days | 105 days |
| 2014-2016 Oil Price Collapse | ||
| % Loss | -27.5% | -6.8% |
| % Gain to Breakeven | 38.0% | 7.3% |
| Time to Breakeven | 209 days | 15 days |
| 2011 US Debt Ceiling Crisis & European Contagion | ||
| % Loss | -28.4% | -17.9% |
| % Gain to Breakeven | 39.7% | 21.8% |
| Time to Breakeven | 168 days | 123 days |
| 2008-2009 Global Financial Crisis | ||
| % Loss | -91.4% | -53.4% |
| % Gain to Breakeven | 1066.9% | 114.4% |
| Time to Breakeven | 344 days | 1085 days |
In The Past
Onto Innovation's stock fell -48.2% during the 2025 US Tariff Shock. Such a loss loss requires a 93.1% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About Onto Innovation (ONTO)
Onto Innovation Inc. (ONTO) is a technology company that designs, develops, manufactures, and supports advanced process control solutions for various high-tech industries worldwide. The company's core expertise lies in providing tools that perform critical functions such as macro defect inspection, 2D/3D optical metrology, and lithography systems. Complementing its hardware, Onto Innovation also offers sophisticated process control analytical software designed to optimize manufacturing processes and improve yield.
The company's main product offerings include standalone systems for specific applications, such as macro-defect inspection, packaging lithography, and probe card test and analysis. These systems are used for precise measurements and quality control, including transparent and opaque thin film measurements. Furthermore, Onto Innovation provides a comprehensive process control software portfolio, which offers solutions that can manage individual tools, groups of tools, or even entire factory-wide operations, along with essential services like spare parts and software licensing.
Onto Innovation primarily serves a broad array of manufacturers within the semiconductor and advanced packaging device industries. Its solutions are also critical for producers of silicon wafers, light emitting diodes (LEDs), vertical-cavity surface-emitting lasers (VCSELs), micro-electromechanical systems (MEMS), CMOS image sensors, power devices, and RF filters. Additionally, the company caters to the data storage sector and various other industrial and scientific applications that require precise process control and yield management.
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Here are 1-3 brief analogies for Onto Innovation (ONTO):
- Think of them as the Keyence for semiconductor and advanced electronics manufacturing, providing the precision tools for inspection and quality control.
- They're like KLA Corporation, but with a broader focus on advanced packaging, MEMS, and specialty devices, offering critical process control and inspection solutions.
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Onto Innovation (ONTO) provides the following major products and services:
- Macro Defect Inspection and Metrology Tools: Systems designed for detecting macro defects and performing precise 2D/3D optical measurements.
- Lithography Systems: Equipment used for patterning and fabricating micro-devices, including advanced packaging applications.
- Process Control Analytical Software: Software solutions for monitoring, analyzing, and optimizing manufacturing processes.
- Probe Card Test and Analysis Systems: Specialized systems for testing and analyzing the functionality of probe cards used in semiconductor manufacturing.
- Thin Film Measurement Systems: Tools for measuring the characteristics of both transparent and opaque thin films.
- Spare Parts: Components supplied for the maintenance and repair of their equipment.
- Software Licensing: Services for providing legal rights to use their proprietary software solutions.
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Onto Innovation (symbol: ONTO) sells its products and services primarily to other companies. Based on the provided company description, its major customers are businesses operating within the following segments of the technology and manufacturing industries:
- Semiconductor and advanced packaging device manufacturers
- Silicon wafer manufacturers
- Manufacturers of light-emitting diodes (LEDs)
- Manufacturers of vertical-cavity surface-emitting lasers (VCSELs)
- Manufacturers of micro-electromechanical systems (MEMS)
- Manufacturers of CMOS image sensors
- Manufacturers of power devices
- Manufacturers of RF filters
- Data storage manufacturers
- Companies involved in various industrial and scientific applications
Specific names of individual customer companies are not disclosed in the provided background information.
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Michael P. Plisinski, Chief Executive Officer
Michael Plisinski has over 25 years of experience in the semiconductor capital equipment industry. He became the Chief Executive Officer of Rudolph Technologies in 2015 and continued in this role after the formation of Onto Innovation through the merger of Rudolph Technologies and Nanometrics in 2019. Prior to becoming CEO, he served as Executive Vice President and Chief Operating Officer of Rudolph Technologies. Plisinski founded Counterpoint Solutions, a supplier of optical review and automated metrology equipment, and served as its president and sole founder from 1999 to 2003. Counterpoint Solutions was later acquired by August Technology.
Brian Roberts, Chief Financial Officer
Brian Roberts serves as the Chief Financial Officer of Onto Innovation, a position he assumed effective June 16, 2025. He brings over 20 years of financial leadership expertise, including 11 years as CFO for publicly traded technology companies in sectors such as medical device, software, and industrial. His prior CFO roles include Sensata Technologies, Tarveda Therapeutics, Insulet Corporation, and Digitas, Inc. Roberts also held senior financial positions at Averdo, Idiom Technologies, and Monitor Company. He was a board member of ViewRay, Inc. from 2015 to 2023, where he chaired the audit committee. He started his career at Ernst & Young LLP and is a Certified Public Accountant.
Michel Rosa, Chief Marketing Officer & Senior Vice President, Strategy
Michel Rosa is the Chief Marketing Officer and Senior Vice President of Strategy at Onto Innovation.
Ramil Yaldaei, Chief Operating Officer
Ramil Yaldaei serves as the Chief Operating Officer for Onto Innovation.
Yoon Ah Oh, Senior Vice President and General Counsel
Yoon Ah Oh is the Senior Vice President and General Counsel at Onto Innovation. She has an extensive background in corporate legal affairs, including securities, financing, and mergers and acquisitions, having practiced law at firms such as Dechert LLP and Cahill Gordon & Reindel LLP.
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The key risks to Onto Innovation's business include:
- Geopolitical Tensions and Trade Policies: Onto Innovation's global operations are significantly exposed to risks arising from geopolitical tensions, trade disputes, tariffs, and evolving export regulations, particularly between the United States and China. These factors can adversely impact the company's ability to compete in key markets, disrupt supply chains, and affect overall financial performance.
- Intense Market Competition and Technological Disruption: The company operates within a highly competitive semiconductor market that is characterized by rapid technological advancements. This necessitates substantial and ongoing research and development investments to innovate and maintain a competitive edge against other companies, some of which may possess greater resources.
- Customer Concentration Risk: Onto Innovation is reliant on a limited number of significant customers for a substantial portion of its revenue. This concentration creates a risk of considerable fluctuations in cash flows and revenue streams if these key customers alter their purchasing patterns.
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Onto Innovation (ONTO) operates in several addressable markets related to semiconductor manufacturing and process control. The market sizes for their main products and services are as follows:
- The global semiconductor metrology and inspection equipment market is estimated at USD 11.01 billion in 2025, with a projected compound annual growth rate (CAGR) of 5.2% during the forecast period of 2025 to 2030.
- The total addressable market (TAM) for process control, encompassing macro defect inspection, metrology, and lithography systems, is projected to expand significantly from $4.2 billion in the "Mobility Era" to $12.3 billion in the "AI Era". This market is considered global, given Onto Innovation's global operational footprint.
- For metrology products, the Served Available Market (SAM) is estimated at $1.1 billion. This includes planar films metrology, 3D OCD metrology, integrated metrology, and opaque film metrology.
- The Served Available Market (SAM) for inspection and acoustic metrology is reported to be $850 million.
- New inspection applications, particularly those addressed by the Dragonfly G5 inspection system, represent a serviceable available market of more than $500 million.
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Expected Drivers of Future Revenue Growth for Onto Innovation (ONTO) over the Next 2-3 Years:
- Growth in Advanced Packaging: Onto Innovation anticipates substantial revenue growth driven by increasing demand in advanced packaging, particularly from 2.5D packaging customers and for High-Bandwidth Memory (HBM) applications in the AI era. The company expects revenue from 2.5D packaging customers to nearly double, fueled by strong demand for its DragonFly systems. Furthermore, advanced packaging revenue is projected to grow over 30% in 2026, with a significant volume purchase agreement from an HBM customer valued at over $240 million through 2027.
- Increased Demand in Advanced Nodes: The company foresees improved revenue from increased spending in advanced nodes, including DRAM and logic. Organic growth in 2026 is expected, particularly in the second half, driven by increased tool demand and an improved outlook for Wafer Fabrication Equipment (WFE), supported by momentum in leading-edge foundry, logic, DRAM, and NAND sectors. Advanced nodes revenue is expected to grow at least in line with WFE, which management anticipates could range from 10% to 20% year-over-year.
- New Product Launches and Expansion of Recently Launched Products: Onto Innovation's pipeline of new products and the ramp-up of recently launched ones are significant growth drivers. The next-generation DragonFly system, with its first shipments and preliminary discussions for volume needs in 2026, is a key example. Additionally, the 3Di technology has successfully completed full qualification processes at HBM customers, and new inspection and metrology capabilities like EchoScan™ for hybrid bonding and the JetStep® lithography system for panel-level packaging are addressing emerging technological needs.
- Integration of AI and Machine Learning: The strategic integration of Artificial Intelligence (AI) and Machine Learning (ML) into Onto Innovation's offerings aims to enhance defect reduction and manufacturing efficiency. This integration is expected to boost profit margins as these AI-enhanced solutions gain wider market adoption. The rapid expansion of AI applications, with AI server growth projected at a 42% compound annual growth rate, directly fuels demand for Onto's specialized metrology and inspection tools.
- Contribution from Semilab Acquisition: The acquisition of Semilab, which was expected to close in late 2025, is anticipated to be accretive to both revenue and earnings in 2026. While power semiconductor revenue (which includes Semilab) is expected to see a seasonal decline in the first quarter of 2026 and an overall decline of around 10% for 2026 based on weakening demand in EVs and slowing infrastructure spending, the acquisition is still projected to contribute positively to the company's financial performance.
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Share Repurchases
- In May 2024, Onto Innovation announced a new share repurchase program authorizing up to $200 million of its common stock.
- As of March 31, 2025, the company had repurchased $83.60 million worth of shares.
- A $100 million share repurchase authorization was approved in November 2020, replacing a prior authorization, with approximately $52 million in shares repurchased during 2020.
Share Issuance
- In connection with the acquisition of Semilab International's materials analysis business, Onto Innovation agreed to issue 706,215 shares of its common stock in June 2025, later adjusted to 641,771 shares in October 2025.
Inbound Investments
- Institutional investors hold a significant majority of Onto Innovation's stock, approximately 95.79% as of July 2025, reflecting strong market confidence.
- Major institutional shareholders include prominent firms such as BlackRock, Inc. and Vanguard Group Inc.
Outbound Investments
- In November 2025, Onto Innovation completed the acquisition of key product lines from Semilab International's materials analysis business, valued at approximately $495 million, enhancing its capabilities in inline wafer contamination monitoring and materials characterization.
- Onto Innovation acquired Lumina Instruments, Inc. in October 2024 to strengthen its inspection portfolio with laser scattering technology, expecting to expand its served addressable market by over $250 million.
- The company also acquired the lithography business from Kulicke and Soffa Industries, Inc. in November 2024, gaining patents and expertise to advance its JetStep® panel lithography roadmap.
Capital Expenditures
- From 2020 to 2024, Onto Innovation generated sufficient cash flow from operations to cover its capital expenditures.
- The company anticipates increased capital expenditures in the semiconductor sector, driven by global AI investment, particularly in metrology and advanced packaging.
- Onto Innovation secured a volume purchase agreement valued at over $240 million with a leading high bandwidth memory (HBM) manufacturer for Dragonfly® 2D inspection and 3D bump metrology, supporting expansion plans through 2027.
Peer Outperformance in Semiconductor Materials & Equipment
ONTO has outperformed 85% of its 26 Semiconductor Materials & Equipment peers over 5Y. Among the peers that beat it are AXTI, KLAC and LRCX. Semiconductor Materials & Equipment ranks 2nd of 12 industries in Information Technology by median 5Y return. That makes it one of the strongest corners of the sector.
Share of Semiconductor Materials & Equipment constituents that ONTO has outperformed, by holding period. Peers without a full price history over a given window are excluded from that window.
1Y
67%
of 27 industry peers · 125.5% return
3Y
59%
of 27 industry peers · 127.4% return
5Y
85%
of 26 industry peers · 274.3% return
Semiconductor Materials & Equipment peers with revenue growth within 4pp of ONTO's that beat it on at least 2 of 3 windows, and by at least 20pp over 5Y. Growth is matched by construction, so the gap is largely a re-rating gap. The multiple column is the context for it.
| Ticker | Name | Rev Growth 3Y Avg | P/E | 1Y | 3Y | 5Y | 5Y Gap |
|---|---|---|---|---|---|---|---|
| ONTO | Onto Innovation | 7.9% | 107.2x | 125.5% | 127.4% | 274.3% | — |
| AXTI | AXT | 10.5% | 1,192.2x | 1594.0% | 3273.5% | 797.0% | +523pp |
| KLAC | KLA | 9.7% | 50.8x | 77.5% | 331.9% | 439.3% | +165pp |
| LRCX | Lam Research | 11.7% | 54.3x | 146.8% | 426.4% | 437.7% | +163pp |
Price returns, excluding dividends. P/E shown for context only and not used for matching.
Median price return by industry across the Information Technology sector, ranked by 5Y. Semiconductor Materials & Equipment is ONTO's own industry. Use this to see which corners of the sector have carried the returns.
| Industry | Names | 1Y med | 3Y med | 5Y med | Top 3 by 5Y |
|---|---|---|---|---|---|
| Electronic Manufacturing Services | 9 | 67.8% | 202.9% | 283.6% | TTMI 915% · FLEX 725% · SANM 466% |
| Semiconductor Materials & Equipment ← | 27 | 97.2% | 97.4% | 112.0% | AXTI 797% · AEHR 592% · KLAC 439% |
| Technology Distributors | 9 | 41.0% | 84.4% | 101.6% | CLMB 402% · AVT 204% · SNX 148% |
| Communications Equipment | 36 | 17.2% | 95.3% | 67.6% | AAOI 1301% · FEIM 1069% · LITE 995% |
| Electronic Components | 26 | 42.0% | 70.3% | 64.8% | CLS 3788% · BELFA 1333% · COHR 387% |
| Semiconductors | 55 | 34.9% | 42.6% | 39.9% | POET 1808% · MU 1376% · NVDA 944% |
| Technology Hardware, Storage & Peripherals | 20 | 19.0% | 131.3% | 29.5% | STX 1116% · DELL 1073% · SMCI 1042% |
| Internet Services & Infrastructure | 6 | 4.9% | 51.3% | 28.2% | DOCN 71% · VRSN 37% · GDDY 37% |
| Electronic Equipment & Instruments | 26 | -16.6% | 16.4% | -10.4% | PI 192% · OSIS 107% · KEYS 105% |
| IT Consulting & Other Services | 30 | -25.3% | -17.4% | -35.9% | CHRN 522268% · APLD 1174% · TSSI 797% |
| Application Software | 124 | -29.5% | -14.8% | -48.5% | VIDA 144067% · INLX 4910% · PLTR 590% |
| Systems Software | 72 | -20.9% | 9.9% | -62.8% | QNC 640% · ZETA 408% · PANW 363% |
Median of constituents with a full price history over each window. Top names are unfiltered by size in this render.
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Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 274.23 |
| Mkt Cap | 131.6 |
| Rev LTM | 8,963 |
| Op Inc LTM | 3,193 |
| FCF LTM | 2,111 |
| FCF 3Y Avg | 1,993 |
| CFO LTM | 2,389 |
| CFO 3Y Avg | 2,224 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 14.0% |
| Rev Chg 3Y Avg | 8.8% |
| Rev Chg Q | 29.1% |
| QoQ Delta Rev Chg LTM | 7.0% |
| Op Inc Chg LTM | 23.4% |
| Op Inc Chg 3Y Avg | 14.7% |
| Op Mgn LTM | 23.9% |
| Op Mgn 3Y Avg | 23.6% |
| QoQ Delta Op Mgn LTM | 1.3% |
| CFO/Rev LTM | 24.5% |
| CFO/Rev 3Y Avg | 26.1% |
| FCF/Rev LTM | 19.6% |
| FCF/Rev 3Y Avg | 21.5% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 131.6 |
| P/S | 12.6 |
| P/Op Inc | 45.7 |
| P/EBIT | 44.3 |
| P/E | 52.6 |
| P/CFO | 54.8 |
| Total Yield | 2.3% |
| Dividend Yield | 0.3% |
| FCF Yield 3Y Avg | 2.7% |
| D/E | 0.0 |
| Net D/E | -0.0 |
Segment Financials
Revenue by Segment| $ Mil | 2026 | 2024 | 2023 | 2022 |
|---|---|---|---|---|
| Design, development, manufacture and support of high-performance control metrology, defect | 1,005 | 987 | 816 | 789 |
| Total | 1,005 | 987 | 816 | 789 |
| $ Mil | 2026 | 2024 | 2023 |
|---|---|---|---|
| Design, development, manufacture and support of high-performance control metrology, defect | 133 | 187 | 116 |
| Total | 133 | 187 | 116 |
| $ Mil | 2026 | 2024 | 2023 |
|---|---|---|---|
| Design, development, manufacture and support of high-performance control metrology, defect | 137 | 202 | 121 |
| Total | 137 | 202 | 121 |
Price Behavior
Price Behavior
| Market Price | $287.64 | |
| Market Cap ($ Bil) | 14.2 | |
| First Trading Date | 02/26/1992 | |
| Distance from 52W High | -24.0% | |
| 50 Days | 200 Days | |
| DMA Price | $280.65 | $249.12 |
| DMA Trend | up | down |
| Distance from DMA | 2.5% | 15.5% |
| 3M | 1YR | |
| Volatility | 92.7% | 71.6% |
| Downside Capture | 528.88 | 307.26 |
| Upside Capture | 334.51 | 348.39 |
| Correlation (SPY) | 54.7% | 57.5% |
ONTO Betas & Captures as of 8/31/2026
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 3.95 | 4.96 | 4.38 | 3.57 | 3.18 | 2.47 |
| Up Beta | 3.61 | 7.55 | 5.57 | 4.14 | 3.51 | 2.44 |
| Down Beta | -1.89 | 1.75 | 2.05 | 2.05 | 2.48 | 1.93 |
| Up Capture | 456% | 364% | 738% | 755% | 1446% | 8400% |
| Bmk +ve Days | 10 | 21 | 32 | 68 | 138 | 427 |
| Stock +ve Days | 10 | 17 | 31 | 66 | 137 | 395 |
| Down Capture | 560% | 516% | 347% | 254% | 179% | 113% |
| Bmk -ve Days | 11 | 21 | 32 | 59 | 113 | 324 |
| Stock -ve Days | 11 | 25 | 33 | 61 | 114 | 355 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with ONTO | |
|---|---|---|---|---|
| ONTO | 120.3% | 71.4% | 1.40 | - |
| Sector ETF (XLK) | 41.7% | 26.4% | 1.28 | 71.8% |
| Equity (SPY) | 17.7% | 13.0% | 0.98 | 57.5% |
| Gold (GLD) | 14.7% | 29.3% | 0.46 | 23.4% |
| Commodities (DBC) | 44.3% | 20.7% | 1.66 | -11.7% |
| Real Estate (VNQ) | 4.5% | 13.6% | 0.07 | 3.9% |
| Bitcoin (BTCUSD) | -25.9% | 44.8% | -0.54 | 28.1% |
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Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with ONTO | |
|---|---|---|---|---|
| ONTO | 31.4% | 59.2% | 0.70 | - |
| Sector ETF (XLK) | 21.3% | 26.0% | 0.73 | 70.0% |
| Equity (SPY) | 13.3% | 17.2% | 0.59 | 60.4% |
| Gold (GLD) | 19.2% | 18.8% | 0.83 | 12.6% |
| Commodities (DBC) | 10.8% | 19.6% | 0.43 | 7.1% |
| Real Estate (VNQ) | 0.9% | 18.9% | -0.06 | 26.4% |
| Bitcoin (BTCUSD) | 12.2% | 52.6% | 0.41 | 25.4% |
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Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with ONTO | |
|---|---|---|---|---|
| ONTO | 30.6% | 53.3% | 0.72 | - |
| Sector ETF (XLK) | 24.8% | 25.0% | 0.90 | 63.7% |
| Equity (SPY) | 15.5% | 17.9% | 0.73 | 56.6% |
| Gold (GLD) | 12.1% | 16.4% | 0.61 | 10.9% |
| Commodities (DBC) | 8.5% | 18.1% | 0.38 | 14.1% |
| Real Estate (VNQ) | 4.8% | 20.7% | 0.19 | 32.6% |
| Bitcoin (BTCUSD) | 63.8% | 66.2% | 1.03 | 18.9% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Returns Analyses
Earnings Returns History
Updated 9/9/2026| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 8/6/2026 | 14.7% | 25.7% | -0.3% |
| 5/5/2026 | -3.6% | -8.9% | -9.9% |
| 2/19/2026 | -4.0% | -3.3% | -11.2% |
| 11/6/2025 | 5.6% | -1.5% | 23.4% |
| 8/7/2025 | 11.0% | 18.7% | 11.8% |
| 5/8/2025 | -30.2% | -22.7% | -21.6% |
| 2/6/2025 | -11.2% | -17.4% | -41.4% |
| 10/31/2024 | -11.2% | -11.1% | -13.9% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 14 | 13 | 13 |
| # Negative | 9 | 10 | 10 |
| Median Positive | 7.2% | 7.8% | 11.8% |
| Median Negative | -3.6% | -3.2% | -10.5% |
| Max Positive | 14.7% | 25.7% | 35.2% |
| Max Negative | -30.2% | -22.7% | -41.4% |
| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 8/6/2026 | 14.7% | 25.7% | -0.3% |
| 5/5/2026 | -3.6% | -8.9% | -9.9% |
| 2/19/2026 | -4.0% | -3.3% | -11.2% |
| 11/6/2025 | 5.6% | -1.5% | 23.4% |
| 8/7/2025 | 11.0% | 18.7% | 11.8% |
| 5/8/2025 | -30.2% | -22.7% | -21.6% |
| 2/6/2025 | -11.2% | -17.4% | -41.4% |
| 10/31/2024 | -11.2% | -11.1% | -13.9% |
| 8/8/2024 | 8.5% | 18.6% | 1.6% |
| 5/9/2024 | 7.6% | 7.5% | 4.7% |
| 2/8/2024 | 9.3% | 7.1% | 9.5% |
| 11/9/2023 | 10.1% | 9.8% | 17.5% |
| 8/10/2023 | -2.8% | -3.0% | 11.2% |
| 5/4/2023 | 5.1% | 8.2% | 30.3% |
| 2/9/2023 | -2.2% | -2.4% | -2.8% |
| 10/27/2022 | 3.2% | 5.8% | 17.0% |
| 8/9/2022 | 5.8% | 7.8% | -6.4% |
| 5/3/2022 | 6.8% | -0.7% | 14.7% |
| 2/8/2022 | -0.1% | -2.2% | -14.1% |
| 11/4/2021 | 6.1% | 0.9% | 6.2% |
| 8/5/2021 | 8.6% | 2.3% | 9.4% |
| 2/4/2021 | -0.3% | 2.0% | -7.4% |
| 11/2/2020 | 5.7% | 20.3% | 35.2% |
| SUMMARY STATS | |||
| # Positive | 14 | 13 | 13 |
| # Negative | 9 | 10 | 10 |
| Median Positive | 7.2% | 7.8% | 11.8% |
| Median Negative | -3.6% | -3.2% | -10.5% |
| Max Positive | 14.7% | 25.7% | 35.2% |
| Max Negative | -30.2% | -22.7% | -41.4% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 06/30/2026 | 08/06/2026 | 10-Q |
| 03/31/2026 | 05/05/2026 | 10-Q |
| 12/31/2025 | 02/24/2026 | 10-K |
| 09/30/2025 | 11/06/2025 | 10-Q |
| 06/30/2025 | 08/07/2025 | 10-Q |
| 03/31/2025 | 05/08/2025 | 10-Q |
| 12/31/2024 | 02/25/2025 | 10-K |
| 09/30/2024 | 10/31/2024 | 10-Q |
| 06/30/2024 | 08/08/2024 | 10-Q |
| 03/31/2024 | 05/09/2024 | 10-Q |
| 12/31/2023 | 02/26/2024 | 10-K |
| 09/30/2023 | 11/13/2023 | 10-Q |
| 06/30/2023 | 08/10/2023 | 10-Q |
| 03/31/2023 | 05/04/2023 | 10-Q |
| 12/31/2022 | 02/24/2023 | 10-K |
| 09/30/2022 | 11/10/2022 | 10-Q |
| Report Date | Filing Date | Filing |
|---|---|---|
| 06/30/2026 | 08/06/2026 | 10-Q |
| 03/31/2026 | 05/05/2026 | 10-Q |
| 12/31/2025 | 02/24/2026 | 10-K |
| 09/30/2025 | 11/06/2025 | 10-Q |
| 06/30/2025 | 08/07/2025 | 10-Q |
| 03/31/2025 | 05/08/2025 | 10-Q |
| 12/31/2024 | 02/25/2025 | 10-K |
| 09/30/2024 | 10/31/2024 | 10-Q |
| 06/30/2024 | 08/08/2024 | 10-Q |
| 03/31/2024 | 05/09/2024 | 10-Q |
| 12/31/2023 | 02/26/2024 | 10-K |
| 09/30/2023 | 11/13/2023 | 10-Q |
| 06/30/2023 | 08/10/2023 | 10-Q |
| 03/31/2023 | 05/04/2023 | 10-Q |
| 12/31/2022 | 02/24/2023 | 10-K |
| 09/30/2022 | 11/10/2022 | 10-Q |
| 06/30/2022 | 08/09/2022 | 10-Q |
| 03/31/2022 | 05/03/2022 | 10-Q |
| 12/31/2021 | 02/25/2022 | 10-K |
| 09/30/2021 | 11/04/2021 | 10-Q |
| 06/30/2021 | 08/05/2021 | 10-Q |
| 03/31/2021 | 04/29/2021 | 10-Q |
| 12/31/2020 | 02/19/2021 | 10-K |
| 09/30/2020 | 11/02/2020 | 10-Q |
| 06/30/2020 | 08/05/2020 | 10-Q |
| 03/31/2020 | 05/05/2020 | 10-Q |
| 12/31/2019 | 02/25/2020 | 10-K |
| 09/30/2019 | 11/07/2019 | 10-Q |
Recent Forward Guidance
Updated 8/7/2026Latest: Q2 2026 Earnings Reported 8/6/2026
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| Q3 2026 Revenue | Reported | 380.00 Mil | 390.00 Mil | 400.00 Mil | 20.0% | Higher New | Guidance: 325.00 Mil for Q2 2026 | |
| Q3 2026 Gross Margin | Reported | 57.3% | 57.55% | 57.8% | 1.3% | Higher New | Guidance: 56.25% for Q2 2026 | |
| Q3 2026 GAAP Operating Margin | Reported | 21.4% | 21.9% | 22.4% | 3.6% | Higher New | Guidance: 18.25% for Q2 2026 | |
| Q3 2026 Non-GAAP Operating Margin | Reported | 31.5% | 32.0% | 32.5% | 3.7% | Higher New | Guidance: 28.3% for Q2 2026 | |
| Q3 2026 GAAP Diluted EPS | Reported | 1.54 | 1.62 | 1.7 | 42.7% | Higher New | Guidance: 1.14 for Q2 2026 | |
| Q3 2026 Non-GAAP Diluted EPS | Reported | 2.18 | 2.28 | 2.38 | 34.9% | Higher New | Guidance: 1.69 for Q2 2026 | |
Prior: Q1 2026 Earnings Reported 5/5/2026
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| Q2 2026 Revenue | Reported | 320.00 Mil | 325.00 Mil | 330.00 Mil | 16.1% | Higher New | Guidance: 280.00 Mil for Q1 2026 | |
| Q2 2026 Gross Margin | Reported | 56.0% | 56.25% | 56.5% | 1.2% | Higher New | Guidance: 55.1% for Q1 2026 | |
| Q2 2026 GAAP Operating Margin | Reported | 17.8% | 18.25% | 18.7% | 3.4% | Higher New | Guidance: 14.9% for Q1 2026 | |
| Q2 2026 Non-GAAP Operating Margin | Reported | 28.0% | 28.3% | 28.6% | 2.3% | Higher New | Guidance: 26.0% for Q1 2026 | |
| Q2 2026 GAAP Diluted EPS | Reported | 1.09 | 1.14 | 1.18 | 43.7% | Higher New | Guidance: 0.79 for Q1 2026 | |
| Q2 2026 Non-GAAP Diluted EPS | Reported | 1.65 | 1.69 | 1.73 | 29.0% | Higher New | Guidance: 1.31 for Q1 2026 | |
Q4 2025 Earnings Reported 2/19/2026
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| Q1 2026 Revenue | Reported | 275.00 Mil | 280.00 Mil | 285.00 Mil | 8.7% | Higher New | Guidance: 257.50 Mil for Q4 2025 | |
| Q1 2026 Gross Margin | Reported | 54.6% | 55.1% | 55.6% | 0.8% | Higher New | Guidance: 54.25% for Q4 2025 | |
| Q1 2026 GAAP Operating Margin | Reported | 14.2% | 14.9% | 15.6% | ||||
| Q1 2026 Non-GAAP Operating Margin | Reported | 25.5% | 26.0% | 26.5% | 1.0% | Higher New | Guidance: 25.0% for Q4 2025 | |
| Q1 2026 GAAP EPS | Reported | 0.74 | 0.79 | 0.84 | -14.6% | Lower New | Guidance: 0.93 for Q4 2025 | |
| Q1 2026 Non-GAAP EPS | Reported | 1.26 | 1.31 | 1.36 | 4.4% | Higher New | Guidance: 1.25 for Q4 2025 | |
Q3 2025 Earnings Reported 11/6/2025
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| Q4 2025 Revenue | Reported | 250.00 Mil | 257.50 Mil | 265.00 Mil | 18.4% | Higher New | Guidance: 217.50 Mil for Q3 2025 | |
| Q4 2025 Gross Margin | Reported | 53.5% | 54.25% | 55.0% | 0.2% | Higher New | Guidance: 54.0% for Q3 2025 | |
| Q4 2025 Non-GAAP Operating Margin | Reported | 24.0% | 25.0% | 26.0% | 5.5% | Higher New | Guidance: 19.5% for Q3 2025 | |
| Q4 2025 GAAP Diluted EPS | Reported | 0.85 | 0.93 | 1 | 49.2% | Higher New | Guidance: 0.62 for Q3 2025 | |
| Q4 2025 Non-GAAP Diluted EPS | Reported | 1.18 | 1.25 | 1.33 | 47.6% | Higher New | Guidance: 0.85 for Q3 2025 | |
Insider Activity
Updated 9/4/2026| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Lynch, Susan D | Direct | Sell | 8252026 | 302.30 | 1,000 | 302,300 | 811,373 | Form |
| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Lynch, Susan D | Direct | Sell | 8252026 | 302.30 | 1,000 | 302,300 | 811,373 | Form |
Investor Activity (13F)
Updated Sep 27, 202613F holdings as of Mar 31, 2026 (Q1 2026)
Active managers (13F portfolio over $250M, at least 3 holdings) with a position over $5M that is either over 10% of their portfolio or held in a concentrated book of 50 or fewer total positions. Index/ETF, sovereign, bank, community-bank and charitable/donor-advised filers are excluded.
| Active Manager | Value | % of Portfolio | Total Positions | QoQ | Filing |
|---|---|---|---|---|---|
| Brilliance Asset Management LTD | $39.8 Mil | 11.7% | 16 | TRIM -22.3% | 13F |
| Divisar Capital Management LLC | $39.6 Mil | 10.1% | 26 | TRIM -9.0% | 13F |
| Talos Eurisko Asset Management LP | $33.9 Mil | 5.8% | 23 | New | 13F |
| Alta Park Capital, LP | $20.9 Mil | 3.4% | 24 | TRIM -17.0% | 13F |
| Alua Capital Management LP | $27.0 Mil | 3.0% | 14 | New | 13F |
| Glenview Capital Management, LLC | $61.5 Mil | 1.7% | 41 | TRIM -27.7% | 13F |
| Active Manager | Value | % of Portfolio | Total Positions | QoQ | Filing |
|---|---|---|---|---|---|
| Glenview Capital Management, LLC | $61.5 Mil | 1.7% | 41 | TRIM -27.7% | 13F |
| Brilliance Asset Management LTD | $39.8 Mil | 11.7% | 16 | TRIM -22.3% | 13F |
| Divisar Capital Management LLC | $39.6 Mil | 10.1% | 26 | TRIM -9.0% | 13F |
| Talos Eurisko Asset Management LP | $33.9 Mil | 5.8% | 23 | New | 13F |
| Alua Capital Management LP | $27.0 Mil | 3.0% | 14 | New | 13F |
| Alta Park Capital, LP | $20.9 Mil | 3.4% | 24 | TRIM -17.0% | 13F |
Industry Resources
| Information Technology Resources |
| TechCrunch |
| Wired |
| CIO |
| MIT Technology Review |
| Gartner Insights |
| Ars Technica |
| Semiconductor Materials & Equipment Resources |
| SEMI |
| Semiconductor Digest |
| Semiconductor Today |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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