Onto Innovation (NYSE:ONTO) Updates Q4 Earnings Guidance

Onto Innovation (NYSE:ONTO) updated its fourth quarter earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $1.33-1.48 for the period, compared to the consensus 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

ONTO has been the subject of a number of research reports. Stifel Nicolaus upped their price objective on Onto Innovation from $240.00 to $270.00 and gave the company a “buy” rating in a research report on Monday, July 15th. Needham & Company LLC cut their target price 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 reiterated a “buy” rating and issued a $230.00 price target on shares of Onto Innovation in a research report on Friday. Jefferies Financial Group cut their price objective on shares of Onto Innovation from $265.00 to $245.00 and set a “buy” rating for the company in a research report on Friday. Finally, Oppenheimer upped their price objective on Onto Innovation from $260.00 to $275.00 and gave the stock an “outperform” rating in a research note on Friday. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $254.29.

Onto Innovation Stock Performance

Shares of NYSE ONTO traded down $22.23 during midday trading on Friday, reaching $176.10. The stock had a trading volume of 1,839,738 shares, compared to its average volume of 644,749. The company has a market capitalization of $8.70 billion, a price-to-earnings ratio of 47.72, a price-to-earnings-growth ratio of 1.28 and a beta of 1.37. Onto Innovation has a 12-month low of $115.07 and a 12-month high of $238.93. The stock has a 50-day moving average of $202.50 and a 200-day moving average of $206.86.

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

Insider Buying and Selling

In related news, SVP Srinivas Vedula sold 1,275 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $207.24, for a total transaction of $264,231.00. Following the completion of the transaction, the senior vice president now owns 16,050 shares in the company, valued at approximately $3,326,202. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.72% of the stock is owned by insiders.

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.