Zacks Research Boosts Earnings Estimates for Onto Innovation

Onto Innovation Inc. (NYSE:ONTO) – Equities researchers at Zacks Research lifted their FY2024 EPS estimates for Onto Innovation in a research report issued on Thursday, November 21st. Zacks Research analyst R. Department now forecasts that the semiconductor company will post earnings of $5.18 per share for the year, up from their prior forecast 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 posted its earnings results on Thursday, October 31st. The semiconductor company reported $1.34 EPS for the quarter, topping analysts’ consensus estimates of $1.31 by $0.03. The business had revenue of $252.20 million for the quarter, compared to analysts’ expectations of $250.85 million. Onto Innovation had a return on equity of 13.38% and a net margin of 19.44%. The business’s revenue was up 21.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.96 earnings per share.

Several other analysts also recently commented on ONTO. Benchmark reiterated a “buy” rating and issued a $230.00 price target on shares of Onto Innovation in a research report on Friday, November 1st. Needham & Company LLC decreased 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 note on Friday, November 1st. Jefferies Financial Group dropped their price target on Onto Innovation from $265.00 to $245.00 and set a “buy” rating on the stock in a research report on Friday, November 1st. Finally, Oppenheimer increased their price objective on Onto Innovation from $260.00 to $275.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, Onto Innovation currently has an average rating of “Moderate Buy” and an average target price of $254.29.

Onto Innovation Trading Down 0.1 %

ONTO stock opened at $166.29 on Monday. The company has a market capitalization of $8.21 billion, a P/E ratio of 45.07, a PEG ratio of 1.07 and a beta of 1.37. The business has a 50 day simple moving average of $194.17 and a 200-day simple moving average of $204.79. Onto Innovation has a twelve month low of $134.11 and a twelve month high of $238.93.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in ONTO. QRG Capital Management Inc. increased its holdings in Onto Innovation by 2.7% during the 2nd quarter. QRG Capital Management Inc. now owns 1,935 shares of the semiconductor company’s stock valued at $425,000 after acquiring an additional 50 shares in the last quarter. Magnetar Financial LLC raised its holdings in shares of Onto Innovation by 4.0% in the second quarter. Magnetar Financial LLC now owns 1,622 shares of the semiconductor company’s stock worth $356,000 after acquiring an additional 63 shares during the last quarter. Shaker Investments LLC OH lifted its holdings in Onto Innovation by 1.7% in the 2nd quarter. Shaker Investments LLC OH now owns 3,928 shares of the semiconductor company’s stock valued at $862,000 after purchasing an additional 64 shares in the last quarter. Northwest & Ethical Investments L.P. grew its holdings in shares of Onto Innovation by 7.8% during the third quarter. Northwest & Ethical Investments L.P. now owns 1,050 shares of the semiconductor company’s stock worth $218,000 after buying an additional 76 shares in the last quarter. Finally, Quarry LP raised its position in shares of Onto Innovation by 232.4% in the second quarter. Quarry LP now owns 113 shares of the semiconductor company’s stock valued at $25,000 after buying an additional 79 shares during the last quarter. 98.35% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, SVP Srinivas Vedula sold 1,275 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The shares were 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 owns 16,050 shares in the company, valued at $3,326,202. This trade represents a 7.36 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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.