Equities Analysts Offer Predictions for Onto Innovation Inc.’s Q1 2024 Earnings (NYSE:ONTO)

Onto Innovation Inc. (NYSE:ONTOFree Report) – Research analysts at B. Riley lowered their Q1 2024 earnings per share (EPS) estimates for Onto Innovation in a research note issued to investors on Thursday, February 8th. B. Riley analyst C. Ellis now expects that the semiconductor company will earn $1.10 per share for the quarter, down from their prior forecast of $1.11. B. Riley currently has a “Buy” rating and a $205.00 target price on the stock. The consensus estimate for Onto Innovation’s current full-year earnings is $4.67 per share. B. Riley also issued estimates for Onto Innovation’s Q2 2024 earnings at $1.14 EPS, Q3 2024 earnings at $1.23 EPS, Q4 2024 earnings at $1.20 EPS, FY2024 earnings at $4.67 EPS, Q1 2025 earnings at $1.31 EPS, Q2 2025 earnings at $1.41 EPS, Q3 2025 earnings at $1.50 EPS, Q4 2025 earnings at $1.48 EPS and FY2025 earnings at $5.70 EPS.

Onto Innovation (NYSE:ONTOGet Free Report) last posted its earnings results on Thursday, February 8th. The semiconductor company reported $1.06 EPS for the quarter, topping analysts’ consensus estimates of $0.99 by $0.07. The company had revenue of $219.00 million for the quarter, compared to the consensus estimate of $209.06 million. Onto Innovation had a return on equity of 10.95% and a net margin of 14.85%. The firm’s revenue for the quarter was down 13.5% on a year-over-year basis. During the same period in the previous year, the business earned $1.57 earnings per share.

ONTO has been the topic of a number of other reports. Benchmark upped their price objective on Onto Innovation from $145.00 to $180.00 and gave the company a “buy” rating in a research report on Friday. Stifel Nicolaus upped their price objective on Onto Innovation from $135.00 to $150.00 and gave the company a “buy” rating in a research report on Friday, November 10th. Finally, StockNews.com upgraded Onto Innovation from a “sell” rating to a “hold” rating in a research report on Monday. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, Onto Innovation presently has an average rating of “Moderate Buy” and a consensus target price of $164.50.

View Our Latest Report on Onto Innovation

Onto Innovation Trading Down 3.4 %

NYSE:ONTO opened at $173.90 on Monday. Onto Innovation has a 12 month low of $76.01 and a 12 month high of $181.66. The business’s 50-day moving average is $153.02 and its 200 day moving average is $135.37. The company has a market capitalization of $8.54 billion, a P/E ratio of 70.69 and a beta of 1.39.

Institutional Investors Weigh In On Onto Innovation

A number of institutional investors and hedge funds have recently bought and sold shares of ONTO. Fifth Third Bancorp raised its position in Onto Innovation by 198.3% during the 4th quarter. Fifth Third Bancorp now owns 173 shares of the semiconductor company’s stock valued at $26,000 after purchasing an additional 115 shares in the last quarter. Contravisory Investment Management Inc. bought a new position in shares of Onto Innovation in the 4th quarter worth $28,000. Huntington National Bank raised its position in shares of Onto Innovation by 70.3% in the 3rd quarter. Huntington National Bank now owns 247 shares of the semiconductor company’s stock worth $31,000 after acquiring an additional 102 shares in the last quarter. GAMMA Investing LLC bought a new position in shares of Onto Innovation in the 4th quarter worth $33,000. Finally, Public Employees Retirement System of Ohio raised its position in shares of Onto Innovation by 51.3% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 516 shares of the semiconductor company’s stock worth $33,000 after acquiring an additional 175 shares in the last quarter. 94.78% of the stock is owned by institutional investors.

Onto Innovation Company Profile

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Onto Innovation Inc engages in the design, development, manufacture, and support of process control tools that performs macro defect inspection and 2D/3D optical metrology, lithography systems, and process control analytical software worldwide. It 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; and process control software portfolio that includes solutions for standalone tools, groups of tools, and enterprise-or factory-wide suites.

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Earnings History and Estimates for Onto Innovation (NYSE:ONTO)

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