Onto Innovation Q1 adjusted EPS meets analyst consensus

Onto Innovation

05/05/2026 21:56

Overview

Semiconductor process control supplier's Q1 revenue up 9.5% yr/yr, slight miss vs analyst expectations

Adjusted EPS for Q1 met analyst consensus

Company to acquire 27% stake in Rigaku for $710 mln to expand X-ray technology portfolio

Outlook

Onto Innovation expects Q2 2026 revenue of $320 mln to $330 mln

Company sees Q2 2026 gross margin of 56% to 56.5%

Onto Innovation expects Q2 2026 GAAP EPS of $1.09 to $1.18, non-GAAP EPS of $1.65 to $1.73

Result Drivers

NEW PRODUCT ADOPTION - Co said Q1 results were driven by customer qualification of Dragonfly G5 and Atlas G6 systems for advanced logic and memory applications

ADVANCED NODES GROWTH - Co reported 13% growth in advanced nodes business in Q1, positioning for further expansion in 2026

EXPANDED ASIAN FOOTPRINT - Co said ramp of extended factories closer to customers in Asia supported customer ramp plans

Company press release: ID:nBw18pY47a

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Revenue
Slight Miss*
$291.95 mln
$292.07 mln (7 Analysts)
Q1 Adjusted EPS
Meet
$1.42
$1.42 (7 Analysts)
Q1 EPS
$0.67
Q1 Net Income
$33.75 mln
Q1 Gross Margin
50.10%
Q1 Operating Income
$33.51 mln


*Applies to a deviation of less than 1%; not applicable for per-share numbers.

Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 7 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"

The average consensus recommendation for the semiconductor equipment & testing peer group is "buy"

Wall Street's median 12-month price target for Onto Innovation Inc is $325.00, about 8.5% above its May 4 closing price of $299.55

The stock recently traded at 38 times the next 12-month earnings vs. a P/E of 33 three months ago

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)