FY2024 EPS Estimates for Onto Innovation Raised by B. Riley

Onto Innovation Inc. (NYSE:ONTO) – Investment analysts at B. Riley upped their FY2024 earnings estimates for Onto Innovation in a research report issued to clients and investors on Friday, November 1st. B. Riley analyst C. Ellis now forecasts that the semiconductor company will earn $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.

Other research analysts also recently issued research reports about the stock. Oppenheimer upped their price objective on shares of Onto Innovation from $260.00 to $275.00 and gave the stock an “outperform” rating in a report on Friday. Jefferies Financial Group lowered 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. Stifel Nicolaus lifted their price target on Onto Innovation from $240.00 to $270.00 and gave the company a “buy” rating in a research note on Monday, July 15th. Benchmark reissued a “buy” rating and set a $230.00 price objective on shares of Onto Innovation in a report on Friday. Finally, Needham & Company LLC dropped their target price on Onto Innovation from $245.00 to $230.00 and set a “buy” rating on the stock in a report on Friday. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $254.29.

Onto Innovation Stock Down 11.2 %

Shares of NYSE:ONTO opened at $176.10 on Monday. The stock’s 50 day moving average is $202.50 and its 200-day moving average is $206.86. Onto Innovation has a twelve month low of $115.07 and a twelve month high of $238.93. The firm has a market capitalization of $8.70 billion, a price-to-earnings ratio of 47.72, a PEG ratio of 1.28 and a beta of 1.37.

Onto Innovation (NYSE:ONTO) last issued its earnings results 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 return on equity of 13.61% and a net margin of 19.44%. The company had revenue of $252.20 million during the quarter, compared to the consensus estimate of $250.85 million. During the same period last year, the business posted $0.96 EPS. The firm’s revenue for the quarter was up 21.7% compared to the same quarter last year.

Institutional Trading of Onto Innovation

Large investors have recently added to or reduced their stakes in the stock. Millennium Management LLC grew its position in shares of Onto Innovation by 304.9% during the 2nd quarter. Millennium Management LLC now owns 447,844 shares of the semiconductor company’s stock valued at $98,329,000 after acquiring an additional 337,250 shares during the period. Congress Asset Management Co. grew its holdings in 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 valued at $222,670,000 after purchasing an additional 295,869 shares during the period. Natixis Advisors LLC increased its position in Onto Innovation by 379.8% in the second quarter. Natixis Advisors LLC now owns 245,144 shares of the semiconductor company’s stock worth $53,824,000 after buying an additional 194,056 shares during the last quarter. Massachusetts Financial Services Co. MA raised its stake in shares of Onto Innovation by 28.5% in the second quarter. Massachusetts Financial Services Co. MA now owns 856,780 shares of the semiconductor company’s stock valued at $188,115,000 after buying an additional 189,769 shares during the period. Finally, Assenagon Asset Management S.A. purchased a new position in shares of Onto Innovation during the 3rd quarter valued at $30,418,000. Hedge funds and other 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 business’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 transaction, the senior vice president now owns 16,050 shares of the company’s stock, valued at approximately $3,326,202. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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.