Onto Innovation (NYSE:ONTO) Releases 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.

Onto Innovation Stock Down 11.2 %

Shares of ONTO traded down $22.23 during mid-day trading on Friday, hitting $176.10. 1,839,738 shares of the company traded hands, compared to its average volume of 644,749. Onto Innovation has a 1-year low of $115.07 and a 1-year high of $238.93. The company has a market capitalization of $8.70 billion, a PE ratio of 47.72, a price-to-earnings-growth ratio of 1.28 and a beta of 1.37. The business has a 50 day moving average of $202.50 and a 200 day moving average of $206.86.

Onto Innovation (NYSE:ONTO) last released its quarterly earnings data on Thursday, October 31st. The semiconductor company reported $1.34 earnings per share for the quarter, beating 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 last year, the business posted $0.96 EPS. The company’s revenue was up 21.7% on a year-over-year basis. As a group, research analysts expect that Onto Innovation will post 5.18 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling at Onto Innovation

In other Onto Innovation news, SVP Srinivas Vedula sold 1,275 shares of the firm’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 transaction, the senior vice president now directly owns 16,050 shares of the company’s stock, valued at approximately $3,326,202. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.72% of the stock is currently owned by insiders.

About Onto Innovation

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.