Onto Innovation is trading 6.5% down today at $259.96 as part of a broader semiconductor and AI-stock pullback driven by valuation worries and profit-taking.
- Recent weakness follows investor digestion of a good but not good enough earnings report that failed to sustain the stock's recent sharp run-up.
- Caution surrounding the company's sizable convertible-note financing has left shares vulnerable as the broader chip sector faces selling pressure.