Cantor Fitzgerald Predicts Onto Innovation FY2025 Earnings

Onto Innovation Inc. (NYSE:ONTO - Free Report) - Cantor Fitzgerald issued their FY2025 earnings estimates for Onto Innovation in a research report issued to clients and investors on Tuesday, January 21st. Cantor Fitzgerald analyst M. Prisco expects that the semiconductor company will post earnings of $6.55 per share for the year. Cantor Fitzgerald currently has a "Overweight" rating and a $250.00 target price on the stock. The consensus estimate for Onto Innovation's current full-year earnings is $5.22 per share.

Other equities analysts also recently issued research reports about the stock. Oppenheimer reissued an "outperform" rating and issued a $275.00 price objective on shares of Onto Innovation in a research note on Tuesday, December 17th. Needham & Company LLC cut their price objective on Onto Innovation from $245.00 to $230.00 and set a "buy" rating on the stock in a report on Friday, November 1st. Benchmark reaffirmed a "buy" rating and issued a $230.00 target price on shares of Onto Innovation in a report on Friday, November 1st. Finally, Jefferies Financial Group cut their price target on Onto Innovation from $265.00 to $245.00 and set a "buy" rating on the stock in a research note on Friday, November 1st. One analyst has rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $253.75.

Onto Innovation Price Performance

ONTO traded up $4.66 during trading on Wednesday, hitting $224.33. 370,123 shares of the stock traded hands, compared to its average volume of 771,947. The business has a 50 day moving average price of $175.80 and a 200 day moving average price of $191.58. Onto Innovation has a twelve month low of $145.15 and a twelve month high of $238.93. The company has a market cap of $11.08 billion, a price-to-earnings ratio of 60.92, a PEG ratio of 1.12 and a beta of 1.29.

Onto Innovation (NYSE:ONTO - Get Free Report) last announced its quarterly earnings data on Thursday, October 31st. The semiconductor company reported $1.34 EPS for the quarter, beating the consensus estimate of $1.31 by $0.03. Onto Innovation had a net margin of 19.44% and a return on equity of 13.38%. The business had revenue of $252.20 million during the quarter, compared to the consensus estimate of $250.85 million. During the same period in the previous year, the business earned $0.96 earnings per share. The company's revenue was up 21.7% on a year-over-year basis.

Hedge Funds Weigh In On Onto Innovation

A number of institutional investors and hedge funds have recently modified their holdings of the business. JPMorgan Chase & Co. raised its position in shares of Onto Innovation by 12.9% during the third quarter. JPMorgan Chase & Co. now owns 2,008,399 shares of the semiconductor company's stock worth $416,863,000 after purchasing an additional 228,800 shares during the period. State Street Corp raised its position in shares of Onto Innovation by 2.8% during the third quarter. State Street Corp now owns 1,469,969 shares of the semiconductor company's stock worth $305,107,000 after purchasing an additional 39,367 shares during the period. Franklin Resources Inc. raised its position in shares of Onto Innovation by 4.5% during the third quarter. Franklin Resources Inc. now owns 1,281,801 shares of the semiconductor company's stock worth $288,320,000 after purchasing an additional 54,868 shares during the period. Congress Asset Management Co. raised its position in shares of Onto Innovation by 38.1% during the third quarter. Congress Asset Management Co. now owns 1,072,796 shares of the semiconductor company's stock worth $222,670,000 after purchasing an additional 295,869 shares during the period. Finally, Geneva Capital Management LLC raised its position in shares of Onto Innovation by 2.6% during the third quarter. Geneva Capital Management LLC now owns 939,641 shares of the semiconductor company's stock worth $195,032,000 after purchasing an additional 23,628 shares during the period. 98.35% of the stock is currently owned by institutional investors.

Insider Transactions at Onto Innovation

In other Onto Innovation news, CEO Michael P. Plisinski sold 20,000 shares of the business's stock in a transaction that occurred on Tuesday, January 14th. The stock was sold at an average price of $200.19, for a total value of $4,003,800.00. Following the transaction, the chief executive officer now directly owns 215,492 shares of the company's stock, valued at approximately $43,139,343.48. The trade was a 8.49 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Srinivas Vedula sold 827 shares of the stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $205.00, for a total value of $169,535.00. Following the transaction, the senior vice president now owns 15,223 shares in the company, valued at $3,120,715. The trade was a 5.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 50,827 shares of company stock worth $10,510,535. Company insiders own 0.72% of the company's stock.

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.