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Upturn AI SWOT - About
ONTO 
Onto Innovation Inc (ONTO)
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Upturn Advisory Summary
03/27/2025: ONTO (1-star) is currently NOT-A-BUY. Pass it for now.
Upturn Star Rating
Not Recommended Performance
These Stocks/ETFs, based on Upturn Advisory, consistently fall short of market performance, signaling caution before investing.
AI Based Fundamental Rating
Moderate Performance
These Stocks/ETFs, based on Upturn Advisory, typically align with the market average, offering steady but unremarkable returns.
Analysis of Past Performance
Type Stock | Historic Profit -40.2% | Avg. Invested days 33 | Today’s Advisory PASS |
Upturn Star Rating | Upturn Advisory Performance  3.0 | Stock Returns Performance  1.0 |
| Profits based on simulation | Last Close 03/27/2025 |
Key Highlights
Company Size Mid-Cap Stock | Market Capitalization 6.56B USD | Price to earnings Ratio 32.76 | 1Y Target Price 247.02 |
Price to earnings Ratio 32.76 | 1Y Target Price 247.02 | ||
Volume (30-day avg) 1018560 | Beta 1.29 | 52 Weeks Range 121.47 - 238.93 | Updated Date 03/27/2025 |
52 Weeks Range 121.47 - 238.93 | Updated Date 03/27/2025 | ||
Dividends yield (FY) - | Basic EPS (TTM) 3.92 |
Analyzing Revenue: Products, Geography and Growth
Revenue by Products
Product revenue - Year on Year
Revenue by Geography
Geography revenue - Year on Year
Earnings Date
Report Date - | When - | Estimate - | Actual - |
Profitability
Profit Margin 20.43% | Operating Margin (TTM) 15.11% |
Management Effectiveness
Return on Assets (TTM) 5.81% | Return on Equity (TTM) 11.01% |
Valuation
Trailing PE 32.76 | Forward PE 20.33 | Enterprise Value 5490117275 | Price to Sales(TTM) 6.64 |
Enterprise Value 5490117275 | Price to Sales(TTM) 6.64 | ||
Enterprise Value to Revenue 5.56 | Enterprise Value to EBITDA 22.01 | Shares Outstanding 49270300 | Shares Floating 48920930 |
Shares Outstanding 49270300 | Shares Floating 48920930 | ||
Percent Insiders 0.65 | Percent Institutions 97.55 |
Analyst Ratings
Rating 4.78 | Target Price 255.12 | Buy 2 | Strong Buy 7 |
Buy 2 | Strong Buy 7 | ||
Hold - | Sell - | Strong Sell - | |
Strong Sell - |
Upturn AI SWOT
Onto Innovation Inc
Company Overview
History and Background
Onto Innovation Inc. was formed in 2019 through the merger of Nanometrics Incorporated (founded in 1984) and Rudolph Technologies (founded in 1966). The company has evolved to provide process control, advanced packaging, and lithography solutions.
Core Business Areas
- Process Control: Offers metrology and inspection systems used in the manufacturing of semiconductors and other advanced devices.
- Advanced Packaging: Provides inspection and metrology solutions for advanced packaging processes, including 2.5D/3D IC and fan-out wafer-level packaging (FOWLP).
- Lithography: Manufactures lithography systems for advanced packaging and specialty device applications. Solutions are used to make micro LEDs, power devices and other advanced products.
Leadership and Structure
Key leaders include Michael Plisinski (CEO) and Steven Roth (CFO). The company operates with a functional organizational structure.
Top Products and Market Share
Key Offerings
- Atlas Systems: Atlas systems are used for macro defect inspection. Key competitors include KLA (KLAC) and Camtek (CAMT). Onto does not publish product specific market share data. Overall, their macro defect inspection revenue is less than KLA. It's a small market compared to other offerings.
- Firefly Systems: Firefly is a metrology system. Key competitors include KLA (KLAC) and Nova (NVMI). Onto does not publish product specific market share data. However, this is a critical and competitive area for all three major players.
- JetStep Systems: JetStep is a lithography system. Key competitors include ASML (ASML) and Canon. Onto does not publish product specific market share data, but has indicated that it is a growth market and they are gaining share.
Market Dynamics
Industry Overview
The semiconductor equipment industry is characterized by high barriers to entry, technological innovation, and cyclical demand driven by capital expenditures from semiconductor manufacturers. It is currently impacted by geopolitical factors.
Positioning
Onto Innovation Inc. holds a significant position in process control and advanced packaging metrology and inspection, as well as lithography for specialty devices. They are a mid-sized player compared to KLA. Their competitive advantages lie in their niche focus and specialized solutions.
Total Addressable Market (TAM)
The total addressable market (TAM) for semiconductor equipment is estimated to be hundreds of billions of dollars. Onto Innovation Inc. participates in specific segments of this market, including inspection, metrology, and lithography, targeting a TAM in the billions. Given current market cap, they are well-positioned with respect to their target TAM.
Upturn SWOT Analysis
Strengths
- Strong expertise in process control and advanced packaging
- Diversified product portfolio
- Established relationships with key customers
- Innovative technology
Weaknesses
- Smaller market capitalization compared to major competitors
- Dependence on semiconductor industry cycles
- Limited brand recognition compared to KLA
Opportunities
- Growth in advanced packaging market
- Increasing demand for specialty devices
- Expansion into new geographic markets
- Technology advancements in metrology and inspection
Threats
- Intense competition from larger players
- Economic downturns affecting semiconductor demand
- Rapid technological changes
- Geopolitical risks and trade tensions
Competitors and Market Share
Key Competitors
- KLAC
- CAMT
- NVMI
Competitive Landscape
Onto Innovation Inc. competes with larger players like KLA. Their advantage lies in specific niche areas and specialized solutions. They are more nimble and can provide better tailored solutions.
Major Acquisitions
Synopsys' (SNPS) Test Automation and Optimization (TAO) product group
- Year: 2023
- Acquisition Price (USD millions): 67.5
- Strategic Rationale: This acquisition expanded Onto's portfolio in process control software and enhance solutions for advanced packaging customers. It is expected to boost productivity and yield.
Growth Trajectory and Initiatives
Historical Growth: The company has experienced growth driven by increasing demand for its process control and advanced packaging solutions.
Future Projections: Analysts project continued growth in revenue and earnings, driven by expansion in advanced packaging and specialty devices.
Recent Initiatives: Recent initiatives include strategic acquisitions and partnerships to expand its product offerings and market reach.
Summary
Onto Innovation is a player in the semiconductor equipment industry, focusing on process control, advanced packaging, and specialty lithography. They have demonstrated growth and profitability, supported by strategic acquisitions. They face competition from larger entities, and any market slowdown is a risk. The overall outlook is positive, given the continued growth of the semiconductor industry.
Similar Companies
- KLAC
- CAMT
- NVMI
- ASML
Sources and Disclaimers
Data Sources:
- Company SEC Filings (10K, 10Q)
- Analyst Reports
- Company Website and Press Releases
- Industry News Sources
Disclaimers:
This analysis is for informational purposes only and should not be considered investment advice. Market share data is approximate and based on available information. Actual results may vary.
AI Summarization is directionally correct and might not be accurate.
Summarized information shown could be a few years old and not current.
Fundamental Rating based on AI could be based on old data.
AI-generated summaries may have inaccuracies (hallucinations). Please verify the information before taking action.
About Onto Innovation Inc
Exchange NYSE | Headquaters Wilmington, MA, United States | ||
IPO Launch date 1992-02-26 | CEO & Director Mr. Michael P. Plisinski | ||
Sector Technology | Industry Semiconductor Equipment & Materials | Full time employees 1551 | Website https://www.ontoinnovation.com |
Full time employees 1551 | Website https://www.ontoinnovation.com | ||
Onto Innovation Inc. engages in the design, development, manufacture, and support of process control tools that performs optical metrology and inspection worldwide. The company offers lithography systems and process control analytical software. It also provides process and yield management solutions, and device packaging and test facilities through standalone systems for optical metrology, macro-defect inspection, packaging lithography, and transparent and opaque thin film measurements. In addition, the company offers process control software portfolio that includes solutions for standalone tools, groups of tools, and enterprise-or factory-wide suites. Further, it engages in systems and software, spare parts, and other services, as well as offers software licensing services. The company's products are used in semiconductor and advanced packaging device manufacturers; silicon wafers; light emitting diodes; vertical-cavity surface-emitting lasers; micro-electromechanical systems; CMOS image sensors; power devices; analog devices; RF filters; data storage; and various industrial and scientific applications. Onto Innovation Inc. was founded in 1940 and is headquartered in Wilmington, Massachusetts.
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