Onto Innovation (NYSE:ONTO) Issues Q4 Earnings Guidance

Onto Innovation (NYSE:ONTO) issued an update on its fourth quarter earnings guidance on Thursday morning. The company provided earnings per share guidance of $1.33-1.48 for the period, compared to the consensus earnings per share estimate of $1.41. The company issued revenue guidance of $253-267 million, compared to the consensus revenue estimate of $259.29 million. Onto Innovation also updated its Q4 2024 guidance to 1.330-1.480 EPS.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Needham & Company LLC decreased their price objective on shares of Onto Innovation from $245.00 to $230.00 and set a “buy” rating for the company in a research report on Friday. Benchmark reaffirmed a “buy” rating and set a $230.00 price target on shares of Onto Innovation in a report on Friday. Oppenheimer upped their price objective on Onto Innovation from $260.00 to $275.00 and gave the stock an “outperform” rating in a research report on Friday. Jefferies Financial Group cut their target price on Onto Innovation from $265.00 to $245.00 and set a “buy” rating on the stock in a research report on Friday. Finally, Stifel Nicolaus upped their price target on Onto Innovation from $240.00 to $270.00 and gave the company a “buy” rating in a report on Monday, July 15th. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, Onto Innovation has an average rating of “Moderate Buy” and a consensus price target of $254.29.

Onto Innovation Trading Down 11.2 %

Shares of Onto Innovation stock traded down $22.23 during trading on Friday, reaching $176.10. The company’s stock had a trading volume of 1,839,738 shares, compared to its average volume of 644,749. The company has a 50-day moving average price of $202.50 and a two-hundred day moving average price of $206.86. Onto Innovation has a fifty-two week low of $115.07 and a fifty-two week high of $238.93. The firm has a market cap of $8.70 billion, a PE ratio of 47.72, a P/E/G ratio of 1.28 and a beta of 1.37.

Onto Innovation (NYSE:ONTO) last announced its earnings results on Thursday, October 31st. The semiconductor company reported $1.34 EPS for the quarter, beating analysts’ consensus estimates of $1.31 by $0.03. Onto Innovation had a net margin of 19.44% and a return on equity of 13.61%. The business had revenue of $252.20 million during the quarter, compared to analysts’ expectations of $250.85 million. During the same period in the prior year, the company earned $0.96 earnings per share. The business’s revenue was up 21.7% compared to the same quarter last year. On average, analysts predict that Onto Innovation will post 5.18 earnings per share for the current fiscal year.

Insider Activity

In other news, SVP Srinivas Vedula sold 1,275 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $207.24, for a total transaction of $264,231.00. Following the transaction, the senior vice president now directly owns 16,050 shares in the company, valued at $3,326,202. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.72% of the company’s stock.

Onto Innovation Company Profile

Onto Innovation Inc engages in the design, development, manufacture, and support of process control tools that performs optical metrology. The company offers lithography systems and process control analytical software. It also offers 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.