What smart money is saying about Onto Innovation Inc
3 funds in our archive have pitched Onto Innovation Inc — most recently Artisan U.S. Small-Cap Growth Strategy in March 2026.
Onto Innovation Inc. is a global leader in designing, manufacturing, and supporting cutting-edge process control solutions. The company's diverse portfolio encompasses tools for macro defect inspection, 2D/3D optical metrology, and lithography systems, alongside sophisticated analytical software for process control. These offerings are crucial for optimizing manufacturing processes, enhancing yield, and facilitating device packaging and testing in various industries worldwide. Their solutions are delivered both as standalone systems for specialized functions—such as detecting large flaws, performing packaging lithography, evaluating probe cards, and measuring transparent and opaque thin films—and through an extensive suite of process control software. This software scales from individual tool management to enterprise-wide factory integration. Beyond hardware and software, Onto Innovation also provides essential spare parts and software licensing services. Their technology is vital to a broad spectrum of clients, including manufacturers of semiconductors, advanced packaging, silicon wafers, LEDs, VCSELs, MEMS, CMOS image sensors, power devices, RF filters, and data storage products, as well as those in various industrial and scientific fields. Originally established in 1940 as Rudolph Technologies, Inc., Onto Innovation Inc. maintains its headquarters in Wilmington, Massachusetts.
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Position history
Between Q4 2024 and Q2 2026, 12 fund letters reported a position in Onto Innovation Inc — 3 trimmed or exited.
| Quarter | Letters | Bought | Sold | Theses |
|---|---|---|---|---|
| Q2 2026 | 10 | 0 | 3 | 0 |
| Q1 2026 | 2 | 0 | 0 | 1 |
| Q3 2025 | 0 | 0 | 0 | 1 |
| Q4 2024 | 0 | 0 | 0 | 1 |
Fund activity · 12 positions · 3 moves
- June 2026
“AI remains a powerful secular trend, and we continue to see attractive long-term opportunities tied to both expanding data center capacity and ongoing innovation to improve the performance and efficiency of AI infrastructure. At the same time, valuations across many AI-related companies have moved meaningfully higher, and participants across the supply chain continue to benefit from shortage-driven pricing power that may prove fleeting. As a result, we remain focused on franchises whose intellectual property and competitive positioning should enable them to gain market share as AI infrastructure designs evolve. Areas of particular interest include data center cooling, advanced semiconductor materials and high-speed networking. These are reflected in holdings such as Modine Manufacturing, MACOM Technology Solutions, Lattice Semiconductor, Onto Innovation and SiTime.”
Onto Innovation Inc - June 2026
“Portfolio Performance The ClearBridge SMID Cap Growth Strategy generated double-digit absolute returns but underperformed the soaring Russell 2500 Growth Index benchmark during the quarter, with underexposure to the highest-beta AI infrastructure winners as well as weakness in health care and consumer discretionary sectors more than offsetting strong contributions from several AI-related and biotechnology holdings. Information technology (IT) was a meaningful source of relative weakness despite strong performance from several individual holdings. Semiconductor companies including Allegro MicroSystems and Lattice Semiconductor, along with networking and semiconductor capital equipment providers such as Coherent, Credo Technology and Onto Innovation, benefited from demand tied to AI infrastructure, semiconductor cycle improvement, automation and cutting-edge AI applications.”
Onto Innovation Inc - June 2026
Listed in TimesSquare Global Small Cap Strategy’s reported holdings.
Onto Innovation Inc - June 2026
“Onto Innovation Inc. (ONTO) is a leading provider of advanced packaging, inspection and metrology equipment for the semiconductor industry. We believe the value proposition of their premium solutions will benefit from increasing complexity and cost across logic, memory, and other semiconductors, in addition to elevated demand for semiconductors more broadly. During the quarter, the company successfully launched their newest Dragonfly G5 system including orders from flagship customers and reported robust quarterly results ahead of expectations, causing the stock to outperform. We believe the company is a primary beneficiary of the multi-year secular tailwind from AI-related datacenter buildout while trading at a much more attractive valuation multiple than many of its more high-profile Semiconductor Capital Equipment peers. As such, we retained our position and it remained a top idea in the portfolio.”
Onto Innovation Inc - June 2026
“TOP CONTRIBUTORS Credo Technology Group Holding Ltd. was the largest contributor to relative performance, benefiting from accelerating demand for high-speed connectivity solutions used in AI data-center infrastructure. The company’s strong results reflected continued investor confidence in its exposure to advanced networking, bandwidth expansion, and power-efficient connectivity solutions required by next- generation compute architectures. Onto Innovation, Inc. also contributed meaningfully as demand expectations improved for semiconductor inspection and metrology tools used in advanced packaging and process control.”
Onto Innovation Inc - June 2026
“Onto Innovation (Information Technology, Core Growth) — Trimmed Onto Innovation was a top contributor during the quarter as investor confidence improved around the company’s exposure to advanced semiconductor manufacturing, packaging, and AI-related demand. The stock benefited from stronger expectations for industry spending, continued execution, and recognition of Onto’s differentiated position across process control and inspection markets. We trimmed the position into strength, while maintaining a constructive long-term view on the company’s growth opportunities.”
Onto Innovation Inc - June 2026
“As noted above, Direct AI beneficiaries and a few other stocks in the portfolio rose sharply and in a number of instances prices raced ahead of fundamentals compressing future expected returns. We exited several positions including Credo Technology (CRDO), Semtech (SMTC), Nova Limited (NVMI), Universal Technical Institute (UTI) and Comfort Systems (FIX), entirely, and trimmed others, such as Modine (MOD), Forgent Power Solutions (FPS), Onto Innovation (ONTO), TTM Technologies (TTMI), and Carpenter Technology Corp (CRS).”
116 more words on why — unlock Granahan Investment Management Focused Growth Strategy’s full commentOnto Innovation Inc “Onto Innovation Inc. Special Situation 1.8%”
Onto Innovation Inc“TOP CONTRIBUTORS Onto Innovation, a semiconductor capital equipment provider, is benefiting from strong Dragonfly G5 inspection system adoption and rising capital expenditure expectations from key customers, including TSMC, Samsung and SK Hynix, amid accelerating AI-driven capacity expansion.”
Onto Innovation Inc- HoldsBridge City Capital Small Cap Growth CompositeJune 2026
“Top 10 Holdings SCG Rep Account 2.7%Onto Innovation Inc. 2.4%Kulicke and Soffa Industries, Inc.”
Onto Innovation Inc - March 2026
“Onto Innovation, a developer of high-performance control metrology, defect inspection, lithography, and data analysis systems for microelectronic device manufacturers also enjoyed a 30% boost to their share price. The company reported a first quarter beat and guided above expectation.”
Onto Innovation Inc - March 2026
“Onto Innovation, a developer of high-performance control metrology, defect inspection, lithography, and data analysis systems for microelectronic device manufacturers also enjoyed a 30% boost to their share price. The company reported a first quarter beat and guided above expectation.”
Onto Innovation Inc
Also mentioned · 2
These funds discuss Onto Innovation Inc — as a competitor, benchmark or comparable — without disclosing a position in it.
- June 2026
“JFrog, a developer of software supply chain and DevOps platform solutions, gained 94% as cloud revenue grew more than 50% and now accounts for over half of total sales. Onto Innovation, a provider of semiconductor process control, inspection, and metrology equipment, advanced 85% on strong advanced-packaging demand.”
Onto Innovation Inc - March 2026
“Onto Innovation Inc., a semiconductor inspection and metrology company, advanced 30%.”
Onto Innovation Inc
Fund coverage · 3 theses
- Artisan U.S. Small-Cap Growth StrategyMarch 2026
Onto Innovation Inc is a leading semiconductor process control provider poised to benefit from a potential memory supercycle and resilient competitive positioning.
Read the full thesis - Royce InvestSeptember 2025
Onto Innovation is a leader in providing essential inspection, metrology, and lithography equipment for semiconductor manufacturing, with strong growth prospects driven by technological advancements and a robust product pipeline.
Read the full thesis - Artisan US Mid Cap Growth StrategyDecember 2024
Onto Innovation is well-positioned for growth in advanced semiconductor packaging and optical metrology due to increasing demand from AI and 3D chip architecture, despite recent short-term cyclical pressures which present a buying opportunity.
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