Zacks Research Raises Earnings Estimates for Onto Innovation

Onto Innovation Inc. (NYSE:ONTO) – Analysts at Zacks Research upped 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 earn $5.18 per share for the year, up from their previous forecast of $5.03. The consensus estimate for Onto Innovation’s current full-year earnings is $5.22 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.

A number of other equities research analysts have also issued reports on the stock. Jefferies Financial Group cut their price target on shares of Onto Innovation from $265.00 to $245.00 and set a “buy” rating on the stock in a report on Friday, November 1st. Benchmark reiterated a “buy” rating and set a $230.00 price target on shares of Onto Innovation in a report on Friday, November 1st. Oppenheimer raised their price target on shares of Onto Innovation from $260.00 to $275.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Finally, Needham & Company LLC lowered their price objective on shares of Onto Innovation from $245.00 to $230.00 and set a “buy” rating on the stock in a research note on Friday, November 1st. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $254.29.

Onto Innovation Price Performance

Shares of NYSE ONTO opened at $165.19 on Monday. The firm’s 50 day simple moving average is $193.69 and its two-hundred day simple moving average is $204.49. Onto Innovation has a one year low of $134.11 and a one year high of $238.93. The stock has a market capitalization of $8.16 billion, a P/E ratio of 44.77, a PEG ratio of 1.06 and a beta of 1.37.

Onto Innovation (NYSE:ONTO) 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. Onto Innovation had a return on equity of 13.38% and a net margin of 19.44%. The firm had revenue of $252.20 million for the quarter, compared to analysts’ expectations of $250.85 million. During the same quarter last year, the firm posted $0.96 EPS. The company’s revenue was up 21.7% compared to the same quarter last year.

Insider Transactions at Onto Innovation

In other Onto Innovation 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 value of $264,231.00. Following the completion of the sale, the senior vice president now directly owns 16,050 shares of the company’s stock, valued at $3,326,202. The trade was a 7.36 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.72% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Vaughan Nelson Investment Management L.P. increased its holdings in Onto Innovation by 24.6% during the second quarter. Vaughan Nelson Investment Management L.P. now owns 202,425 shares of the semiconductor company’s stock valued at $44,444,000 after buying an additional 39,955 shares during the period. Envestnet Portfolio Solutions Inc. grew its position in shares of Onto Innovation by 98.5% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 5,547 shares of the semiconductor company’s stock worth $1,218,000 after buying an additional 2,753 shares during the last quarter. Public Employees Retirement Association of Colorado raised its stake in shares of Onto Innovation by 45.7% during the 2nd quarter. Public Employees Retirement Association of Colorado now owns 105,267 shares of the semiconductor company’s stock worth $23,112,000 after acquiring an additional 33,025 shares in the last quarter. Swedbank AB boosted its stake in Onto Innovation by 372.7% in the second quarter. Swedbank AB now owns 62,400 shares of the semiconductor company’s stock valued at $13,701,000 after acquiring an additional 49,200 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new position in Onto Innovation in the third quarter worth $14,539,000. 98.35% of the stock is currently owned by hedge funds and other institutional investors.

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.