Onto Innovation Inc. (NYSE:ONTO - Free Report) - Equities researchers at B. Riley upped their FY2024 earnings per share (EPS) estimates for Onto Innovation in a research note issued to investors on Friday, November 1st. B. Riley analyst C. Ellis now anticipates that the semiconductor company will post earnings of $5.23 per share for the year, up from their previous forecast of $5.15. The consensus estimate for Onto Innovation's current full-year earnings is $5.18 per share. B. Riley also issued estimates for Onto Innovation's Q4 2024 earnings at $1.41 EPS, Q1 2025 earnings at $1.45 EPS, Q2 2025 earnings at $1.53 EPS, Q3 2025 earnings at $1.65 EPS, Q4 2025 earnings at $1.73 EPS, FY2025 earnings at $6.36 EPS and FY2026 earnings at $7.47 EPS.
Onto Innovation (NYSE:ONTO - Get Free Report) last released its quarterly earnings results on Thursday, October 31st. The semiconductor company reported $1.34 earnings per share for the quarter, beating the consensus estimate of $1.31 by $0.03. The company had revenue of $252.20 million for the quarter, compared to analyst estimates of $250.85 million. Onto Innovation had a return on equity of 13.61% and a net margin of 19.44%. Onto Innovation's quarterly revenue was up 21.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.96 EPS.
Several other equities analysts also recently commented on the stock. Benchmark reiterated a "buy" rating and set a $230.00 price target on shares of Onto Innovation in a report on Friday. Needham & Company LLC cut their target price on Onto Innovation from $245.00 to $230.00 and set a "buy" rating on the stock in a research note on Friday. Oppenheimer raised their price target on Onto Innovation from $260.00 to $275.00 and gave the stock an "outperform" rating in a research note on Friday. Stifel Nicolaus boosted their price objective on Onto Innovation from $240.00 to $270.00 and gave the company a "buy" rating in a report on Monday, July 15th. Finally, Jefferies Financial Group reduced their target price on Onto Innovation from $265.00 to $245.00 and set a "buy" rating on the stock in a research note on Friday. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, Onto Innovation presently has a consensus rating of "Moderate Buy" and a consensus price target of $254.29.
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Onto Innovation Price Performance
Shares of ONTO traded down $3.15 during midday trading on Monday, hitting $172.95. The stock had a trading volume of 1,319,600 shares, compared to its average volume of 571,769. The stock's 50 day moving average is $201.79 and its 200 day moving average is $206.82. The firm has a market cap of $8.54 billion, a PE ratio of 46.87, a price-to-earnings-growth ratio of 1.28 and a beta of 1.37. Onto Innovation has a 1 year low of $117.44 and a 1 year high of $238.93.
Institutional Investors Weigh In On Onto Innovation
Several large investors have recently modified their holdings of ONTO. Norden Group LLC bought a new position in shares of Onto Innovation during the first quarter valued at approximately $654,000. Fidelis Capital Partners LLC bought a new stake in Onto Innovation during the 1st quarter valued at $28,000. Nordea Investment Management AB boosted its position in Onto Innovation by 17.8% during the 1st quarter. Nordea Investment Management AB now owns 102,103 shares of the semiconductor company's stock valued at $18,586,000 after acquiring an additional 15,451 shares in the last quarter. Jennison Associates LLC increased its holdings in shares of Onto Innovation by 135.7% in the 1st quarter. Jennison Associates LLC now owns 8,219 shares of the semiconductor company's stock valued at $1,488,000 after acquiring an additional 4,732 shares during the period. Finally, Central Pacific Bank Trust Division bought a new position in shares of Onto Innovation in the 1st quarter worth $180,000. Institutional investors own 98.35% of the company's stock.
Insiders Place Their Bets
In other Onto Innovation news, SVP Srinivas Vedula sold 1,275 shares of the company's stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $207.24, for a total value of $264,231.00. Following the completion of the sale, the senior vice president now directly owns 16,050 shares in the company, valued at approximately $3,326,202. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.72% of the stock is currently owned by company insiders.
About Onto Innovation
(
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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.
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