Onto Innovation Inc. (NYSE:ONTO – Get Rating) – Zacks Research issued their Q1 2023 earnings per share estimates for shares of Onto Innovation in a report issued on Monday, April 3rd. Zacks Research analyst V. Doshi anticipates that the semiconductor company will post earnings per share of $0.88 for the quarter. The consensus estimate for Onto Innovation’s current full-year earnings is $3.71 per share. Zacks Research also issued estimates for Onto Innovation’s Q2 2023 earnings at $0.88 EPS, Q3 2023 earnings at $0.95 EPS, Q4 2023 earnings at $0.98 EPS, FY2023 earnings at $3.68 EPS, Q1 2024 earnings at $0.95 EPS, Q2 2024 earnings at $1.00 EPS, Q3 2024 earnings at $1.09 EPS, Q4 2024 earnings at $1.18 EPS, FY2024 earnings at $4.22 EPS, Q1 2025 earnings at $1.02 EPS and FY2025 earnings at $4.67 EPS.
A number of other analysts have also issued reports on the company. B. Riley boosted their target price on Onto Innovation from $95.00 to $105.00 and gave the company a “buy” rating in a research report on Friday, February 10th. StockNews.com assumed coverage on Onto Innovation in a research note on Thursday, March 16th. They issued a “buy” rating on the stock. DA Davidson raised their price objective on Onto Innovation from $90.00 to $95.00 and gave the stock a “buy” rating in a report on Friday, February 10th. Benchmark reissued a “buy” rating and set a $92.00 price target (up previously from $85.00) on shares of Onto Innovation in a report on Friday, February 10th. Finally, Needham & Company LLC raised their price target on Onto Innovation from $75.00 to $92.00 and gave the stock a “buy” rating in a report on Friday, February 10th. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $96.00.
Onto Innovation Price Performance
Onto Innovation (NYSE:ONTO – Get Rating) last issued its earnings results on Thursday, February 9th. The semiconductor company reported $1.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.34 by $0.23. The company had revenue of $253.27 million during the quarter, compared to analyst estimates of $252.80 million. Onto Innovation had a return on equity of 17.82% and a net margin of 22.22%. The firm’s quarterly revenue was up 12.2% on a year-over-year basis. During the same quarter last year, the business posted $1.23 EPS.
Hedge Funds Weigh In On Onto Innovation
A number of institutional investors have recently added to or reduced their stakes in ONTO. Oregon Public Employees Retirement Fund grew its position in shares of Onto Innovation by 0.8% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 16,475 shares of the semiconductor company’s stock valued at $1,122,000 after buying an additional 130 shares during the last quarter. Quadrant Capital Group LLC boosted its holdings in shares of Onto Innovation by 19.8% in the second quarter. Quadrant Capital Group LLC now owns 791 shares of the semiconductor company’s stock valued at $55,000 after acquiring an additional 131 shares in the last quarter. First Republic Investment Management Inc. boosted its holdings in shares of Onto Innovation by 2.0% in the fourth quarter. First Republic Investment Management Inc. now owns 8,131 shares of the semiconductor company’s stock valued at $554,000 after acquiring an additional 162 shares in the last quarter. Public Employees Retirement System of Ohio boosted its holdings in shares of Onto Innovation by 51.3% in the third quarter. Public Employees Retirement System of Ohio now owns 516 shares of the semiconductor company’s stock valued at $33,000 after acquiring an additional 175 shares in the last quarter. Finally, Pictet Asset Management SA lifted its stake in Onto Innovation by 7.3% during the third quarter. Pictet Asset Management SA now owns 3,165 shares of the semiconductor company’s stock valued at $203,000 after purchasing an additional 215 shares during the last quarter. Institutional investors and hedge funds own 93.59% of the company’s stock.
About Onto Innovation
Onto Innovation, Inc engages in designing, developing and manufacturing process control systems. It offers process control, combining global scale with an expanded portfolio of technologies that include: 3D metrology spanning the chip from nanometer-scale transistors to micron-level die-interconnects, macro defect inspection of wafers and packages, metal interconnect composition, factory analytics, and lithography for advanced semiconductor packaging.
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