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Onto Innovation Analysts Slash Their Forecasts After Q1 Earnings
ONTOOnto Innovation(ONTO) Benzinga·2025-05-09 15:17

Core Viewpoint - Onto Innovation Inc. reported better-than-expected first-quarter financial results but issued second-quarter guidance below analyst estimates [1][2]. Financial Performance - Quarterly earnings were 1.51pershare,exceedingtheanalystconsensusestimateof1.51 per share, exceeding the analyst consensus estimate of 1.47 per share [1]. - Quarterly sales reached 267.00million,surpassingtheanalystconsensusestimateof267.00 million, surpassing the analyst consensus estimate of 266.30 million [1]. Future Guidance - The company expects second-quarter adjusted earnings to be between 1.21and1.21 and 1.35 per share, compared to analysts' estimates of 1.50pershare[2].−Salesguidanceforthesecondquarterisprojectedtobebetween1.50 per share [2]. - Sales guidance for the second quarter is projected to be between 240.00 million and 260.00million,whileanalystsexpected260.00 million, while analysts expected 269.10 million [2]. Market Reaction - Following the earnings announcement, Onto Innovation shares fell by 29.1%, trading at 89.90[3].AnalystRatings−NeedhamanalystCharlesShimaintainedaBuyratingbutloweredthepricetargetfrom89.90 [3]. Analyst Ratings - Needham analyst Charles Shi maintained a Buy rating but lowered the price target from 230 to 150[5].−BenchmarkanalystMarkMilleralsomaintainedaBuyrating,reducingthepricetargetfrom150 [5]. - Benchmark analyst Mark Miller also maintained a Buy rating, reducing the price target from 230 to $190 [5].