RBC starts coverage of Onto Innovation stock with USD 400.00 target

Published on 10/06/2026 at 16:29 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Second-quarter revenue rose 35.30 percent to USD 343.13 million. Onto Innovation stock was last at EUR 290.20 on October 6, 2026, 14.29 percent below its high.

ONT, US6833441057, Illustration mit AI erstellt.

Onto Innovation (ISIN US6833441057) was last at EUR 290.20 on gettex on October 6, 2026 at 8:14 a.m. CEST, while its market capitalization stood at USD 16.1 billion as of the same date. Fintel reported that RBC Capital initiated coverage on October 2, 2026, and MarketBeat said the firm assigned an Outperform rating with a USD 400.00 price target.

Second-quarter growth sets the benchmark

Onto Innovation's investor-relations page lists quarterly revenue of USD 343.0 million and a GAAP gross margin of 53.00 percent for the second quarter of 2026, alongside USD 1.882 billion in balance-sheet cash. The figures establish a stronger operating base ahead of the next reporting date.

Zacks reported that second-quarter revenue reached USD 343.1 million, up 35.30 percent from the prior year, while non-GAAP earnings per share rose to USD 1.93 from USD 1.25. The same review said backlog exceeded USD 1.0 billion for the first time and that management raised the 2026 advanced-packaging growth outlook to at least 80.00 percent.

Guidance points to October results

MarketBeat reported third-quarter 2026 earnings-per-share guidance of USD 2.18-2.38 after the second-quarter result. That range gives the upcoming report a concrete test: the midpoint is USD 2.30, versus USD 1.93 in the second quarter, a difference of USD 0.37.

Fintel states that the next earnings date is scheduled for October 29, 2026. For investors, the key issue is whether advanced packaging, inspection demand and the more than USD 1.0 billion backlog can support the valuation implied by the new analyst target.

Gettex quote sets the German reference

Onto Innovation was last at EUR 290.20 on gettex on October 6, 2026 at 8:14 a.m. CEST, 14.29 percent below the EUR 338.60 52-week high. Price source: substitute price gettex, Lang & Schwarz without data set.