BUZZ-Onto Innovation falls after quarterly report, forecast

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