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Onto Innovation ONTO

Onto Innovation scores average on business quality (5.6 of 10). Here is why, in plain words, and what our sealed record shows.

Last price$294.53Oct 9, 2026
Business qualityAverage
Next earningsOct 29, 2026
Insiders, 90 daysQuiet

Why it matters

  1. What Onto Innovation does

    Onto Innovation builds process control, inspection, and metrology systems used by semiconductor manufacturers to test chips during production.

  2. What it does best

    Onto excels in advanced node metrology, backed by a gross margin of 55.2%. This edge relies on complex proprietary software integration that is difficult for rivals to displace inside established fab lines.

  3. The main risk

    Stalled top-line growth at 1.8% leaves little room for execution errors if wafer fab equipment spending cycles turn downward.

Quality, check by check

Scored against its own industry, from company filings.

ProfitabilityFair

Operating margins stand at 18.6% with an FCF margin of 22.5%. Profitability remains stable, though scale gains are currently muted by slow revenue growth.

MoatFair

The moat relies on high customer switching costs within semiconductor fabrication. Operating margins rank in the middle of the pack at the 61st sector percentile.

GrowthSlow

Revenue growth sits at 1.8%, marking a sharp deceleration compared to historical periods when the top line expanded past $1B more rapidly.

Financial healthStrong

With zero total debt and $640M in cash, the balance sheet carries no financial risk. Free cash flow reached $252M, leaving the company structurally stronger.

Insiders

Executives and directors, from SEC Form 4 filings we read ourselves. Open market trades only; grants, option exercises and pre-planned sales left out.

No open market buys or unplanned sales by executives or directors.

Our sealed record on ONTO

Verdicts appear here 30 days after we publish them; members see today's. Each one is in the nightly ledger, fingerprinted the night it was made.

The first sealed verdicts appear here on Oct 11, 2026.

Questions

Is ONTO a good business?

Onto Innovation scores average on the Cluenex quality check (5.6 of 10), measured against its own industry. Profitability is fair, moat fair, growth slow and financial health strong.

Are insiders buying ONTO?

In the last 90 days of SEC Form 4 filings: No open market buys or unplanned sales by executives or directors.

When does ONTO report earnings?

Oct 29, 2026.

For members

See ONTO today

  • Today's verdict on ONTO, and why
  • Fair value with cautious, base and optimistic cases
  • The exact price that would change the verdict
  • Which stocks each signal names, the night it fires
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Cite this page: Cluenex, “Onto Innovation (ONTO)”, https://cluenex.com/stocks/onto/, data as of Oct 10, 2026.