Onto Innovation

ONTO

Market cap $15.9B

ONTO offers broader AI and semiconductor exposure, while its lower valuation and rising earnings estimates make it stand out over Camtek.

ONTO topped Q1 guidance as AI chip demand boosts advanced packaging and metrology, with a stronger Q2 outlook and full-year revenue expected above $1.3B.

Applied Materials (NASDAQ:AMAT | AMAT Price Prediction) just told the Street its semiconductor equipment business will grow more than 30% in calendar 2026, an upward revision from a prior bar of 20%.

The latest trading day saw Onto Innovation (ONTO) settling at $321.44, representing a +1.39% change from its previous close.

AMAT, ONTO and BSET made it to the Zacks Rank #1 (Strong Buy) momentum stocks list on July 7, 2026.

Onto Innovation's 25.5% rally reflects AI-led demand, advanced packaging gains and new product momentum, but rich valuation raises questions about the next move.

Chip company Onto Innovation, Inc. (ONTO) up 238% in a year from AI demand.

In the latest trading session, Onto Innovation (ONTO) closed at $323.92, marking a -5.9% move from the previous day.

Onto Innovation which has surged by over 260% and has outperformed the Russell 1000 by 10x over the past year, is still deemed worthy of a buy rating. ONTO is positioned across front-end and back-end semiconductor manufacturing, with over 60% of revenue now AI compute-related, with >$1B worth of opportunities ahead. Operating margins which are at 26.7% are poised to expand to 30% by the end of the year, as advanced node opportunities pick up.

Onto Innovation and KLA are riding AI-driven chip demand, but their growth paths, valuations and advanced packaging exposure differ.