Onto Innovation falls after quarterly report, forecast

Onto Innovation

07/02/2025 18:38

** Shares in semiconductor equipment maker Onto Innovation Inc
 ONTO.N  down ~10% on Friday, hitting lowest point since January
28, after late Thursday release of quarterly financial forecast
range with midpoint below consensus view
    ** ONTO, so far biggest pct decliner in Philadelphia chip
index  .SOX , reported Q4 EPS of $1.51, beating Street est of
$1.41, and rev of $263.94 mln, which topped consensus view of
$260.51 mln, as per LSEG
    ** ONTO forecast Q1 adj EPS of $1.40-$1.54, rev of $260
mln-$274 mln with midpoints below Street view of $1.49 EPS, rev
of $268.16 mln, as per latest LSEG data
    ** Stifel cut PT to $250 from $270 after report
    ** Stock last traded at $189.44 vs median PT of $250,
according to LSEG, which shows 10 analyst ratings: 3 "strong
buy", 7 "buy" 
    ** YTD, shares still up 13.7% after rising 9% in 2024 vs SOX
~1% gain so far this year after rising 19.3% in 2024

 (Reporting By Sinéad Carew)
 ((sinead.carew@thomsonreuters.com; +13322191897;))