Positioning no disclosures inside 60 days, left as found
Options no verdict drawn today, left as found
Ethical passes the values gate
Price275.98 USD
Fair value244.38
Ethical score70.0/100
Our investment reviews on this name
2026-10-02Read Markup275.98+0.0% to today ✓
2026-09-08Read Distribution254.55+8.4% to today
2026-08-07Read Markup241.89+14.1% to today ✓
2026-07-02Read Distribution323.88-14.8% to today ✓
Our analytic regime reads on this name, dated and marked against the screened price. Small sample per name, and separate from the daily-framework accuracy on the Track Record page.
Onto Innovation Inc holds its Markup at $275.98. Consolidating, no directional conviction, held for 248 days.
As held on the ledger · 2026-09-21
Phase
Markup
Quantitative state
Consolidating, no directional conviction, held for 248 days
Price at the screen
$275.98
Valuation
102.98 trailing · 23.61 forward price to earnings
Values screen
PASS· score 70.0
Beta
1.58
The Workings
Five Screens, Shown in Full
Full pass across all five screens. This security clears the Titan Ethical Standard: its business and its balance sheet both stay inside the lines.
Test
Figure
Limit
What it means
Status
Business activity
Permissible
Core business clean
Its core business isn't built on prohibited lines: no gambling, alcohol, tobacco, weapons, or interest-based lending.
Pass
Debt load
0.74%
Below 33%
Interest-bearing debt is just 0.7% of its assets, well under the one-third ceiling: it does not run on borrowed money.
Pass
Interest-bearing cash
12.40%
Below 33%
Cash held in interest-bearing accounts and securities is 12.4% of assets, under the one-third limit.
Pass
Receivables
25.98%
Below 49%
Money owed to the company is 26.0% of assets, under the 49% limit.
Pass
Revenue purity
3.48%
Below 5%
Only 3.5% of revenue comes from non-compliant sources, under the 5% line.
Pass
Five checks adapted from AAOIFI screening standards: business activity plus four balance-sheet ratios. All five must pass for ethical clearance. Every figure is arithmetic on public accounts, not judgement.
The Ethical Read
Why It Clears, in Plain English
Onto Innovation clears all five screens. Its business is in a permissible area, its debt is near-nil, and interest is about 3% of its income, under the ~5% line, so it passes.
Read as at 2026-10-04. It updates when the underlying figures move, and past reads are kept below.
Fair value range in USD, drawn from the 2026-09-21 screen. The gold marker is the market price at the same screen. The price runs 11.5% above the base estimate.
Third-party analyst targets: 11 covering, consensus Strong Buy. The average target sits +41% from the screen price.
Reading the gap · Our more conservative model reads it as fully-to-richly valued here, while the Street is more bullish: a quality-at-a-fair-price name rather than a deep-value one.
Price History & Projections
Where it has been, where the models see it going. History from market close data; projection points are our fair-value estimates and third-party analyst targets, dated to the 2026-09-21 screen.
Fair value and rating are our own model estimates; the Street's range reflects third-party analyst estimates. Analysis, not advice.
The Business, in Plain Words
Chip inspection tools sit in a value trap
Picture a factory line that only runs flat out when chipmakers splash cash on new capacity. Onto sells the inspection tools that keep those lines honest, yet the business earns a thin 10 percent margin and just 5 percent ROE in an industry that stops dead every few years.
We pass because the shares trade well above our fair value with a forward multiple of 28 times on single-digit revenue growth and a narrow moat. In cyclical equipment names that pattern usually signals peak earnings rather than a bargain, leaving investors exposed when orders fade.
The ethical screen clears, yet the combination of high valuation, low returns and cycle risk gives no margin of safety. Analysis, not advice.
The risks · The things to watch: it already moves more than the market on an average day.
Plain-English interpretation of our own screen data. Analysis, not advice.
Where & How to Trade
ONTO trades on the NYSE. As a listed security it is accessible through almost any international broker offering its home market. New to this, or investing from abroad? Our guide to accessing global markets covers brokers, currencies and the practical steps.
The Dated Journal · Newest First, Never Edited
Every Entry, As Written
2026-10-02Markup · changed$275.98+8.4%Entry 6
The framework has shifted from distribution to markup since the last review. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved up 8.4% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it B. Technically it is holding around 48% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 166%. Our forward projection puts the odds of a 10% gain over the next month near 32%. The street (10 analysts) rates it strong buy, with a mean price target of $356.
The framework has shifted from markup to distribution since the last review. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved up 5.2% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it B. Technically it is holding around 48% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 166%. Our forward projection puts the odds of a 10% gain over the next month near 32%. The street (10 analysts) rates it strong buy, with a mean price target of $356.
2026-08-07Markup · changed$241.89-25.3%Entry 4
The framework has shifted from distribution to markup since the last review. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved down 25.3% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it B. Technically it is holding around 48% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 166%. Our forward projection puts the odds of a 10% gain over the next month near 32%. The street (10 analysts) rates it strong buy, with a mean price target of $356.
2026-07-18Distribution$323.88+0.0%Entry 3
The framework reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 0.0% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it B. Technically it is holding around 48% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 166%. Our forward projection puts the odds of a 10% gain over the next month near 32%. The street (10 analysts) rates it strong buy, with a mean price target of $356.
2026-07-03Distribution$323.88+0.0%Entry 2
The framework reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 0.0% since our last review. Ethical screening: PASS with passing ethical screen (70). The risk-adjusted return profile shows modest positive risk-adjusted returns.
2026-07-02Distribution$323.88Entry 1
The framework reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Ethical screening: PASS with passing ethical screen (70). The risk-adjusted return profile shows modest positive risk-adjusted returns.
Each entry above was written on its date, before the outcome. A journal you can prune is not a journal.
