Zacks Research Lifts Earnings Estimates for Onto Innovation

Onto Innovation Inc. (NYSE:ONTO) – Research analysts at Zacks Research lifted their FY2024 EPS estimates for shares of Onto Innovation in a report issued on Thursday, November 21st. Zacks Research analyst R. Department now forecasts that the semiconductor company will earn $5.18 per share for the year, up from their prior estimate of $5.03. The consensus estimate for Onto Innovation’s current full-year earnings is $5.19 per share. Zacks Research also issued estimates for Onto Innovation’s Q4 2024 earnings at $1.34 EPS, Q1 2025 earnings at $1.39 EPS, Q2 2025 earnings at $1.46 EPS, Q3 2025 earnings at $1.57 EPS, Q4 2025 earnings at $1.58 EPS, FY2025 earnings at $6.00 EPS, Q1 2026 earnings at $1.60 EPS, Q2 2026 earnings at $1.67 EPS, Q3 2026 earnings at $1.79 EPS and FY2026 earnings at $6.87 EPS.

Onto Innovation (NYSE:ONTO) last released its quarterly earnings data on Thursday, October 31st. The semiconductor company reported $1.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.31 by $0.03. The company had revenue of $252.20 million during the quarter, compared to analyst estimates of $250.85 million. Onto Innovation had a net margin of 19.44% and a return on equity of 13.38%. The business’s quarterly revenue was up 21.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.96 earnings per share.

Several other equities analysts have also commented on the company. Oppenheimer boosted their price target on Onto Innovation from $260.00 to $275.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. 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. Benchmark restated a “buy” rating and set a $230.00 price objective on shares of Onto Innovation in a research note on Friday, November 1st. Finally, 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 report on Friday, November 1st. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $254.29.

Onto Innovation Trading Down 0.1 %

Shares of NYSE ONTO opened at $166.29 on Monday. The stock has a fifty day moving average price of $194.17 and a 200 day moving average price of $204.79. The company has a market cap of $8.21 billion, a P/E ratio of 45.07, a P/E/G ratio of 1.07 and a beta of 1.37. Onto Innovation has a 12-month low of $134.11 and a 12-month high of $238.93.

Hedge Funds Weigh In On Onto Innovation

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. O Shaughnessy Asset Management LLC grew its position in Onto Innovation by 10.3% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 3,381 shares of the semiconductor company’s stock valued at $612,000 after buying an additional 317 shares in the last quarter. Advisors Asset Management Inc. raised its holdings in Onto Innovation by 30.9% during the first quarter. Advisors Asset Management Inc. now owns 4,339 shares of the semiconductor company’s stock worth $786,000 after purchasing an additional 1,025 shares in the last quarter. Lazard Asset Management LLC boosted its stake in Onto Innovation by 76.6% during the 1st quarter. Lazard Asset Management LLC now owns 66,680 shares of the semiconductor company’s stock valued at $12,074,000 after purchasing an additional 28,926 shares in the last quarter. Public Employees Retirement Association of Colorado increased its position in shares of Onto Innovation by 938.1% during the 1st quarter. Public Employees Retirement Association of Colorado now owns 72,242 shares of the semiconductor company’s stock valued at $13,082,000 after purchasing an additional 65,283 shares during the period. Finally, Silvercrest Asset Management Group LLC raised its stake in shares of Onto Innovation by 2.3% in the 1st quarter. Silvercrest Asset Management Group LLC now owns 71,529 shares of the semiconductor company’s stock worth $12,952,000 after buying an additional 1,580 shares in the last quarter. 98.35% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Onto Innovation

In related 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 completion of the sale, the senior vice president now owns 16,050 shares of the company’s stock, valued at $3,326,202. This represents a 7.36 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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.