Onto Innovation Inc. (ONTO) saw its stock price plummet by 9.31% in pre-market trading on Friday, following the company's disappointing forecast for its second-quarter performance. The semiconductor equipment manufacturer's shares faced significant selling pressure as investors reacted to the news of lower-than-expected revenue and profit projections.

The company's announcement of Q2 estimates falling below Wall Street's expectations triggered the sharp decline. While specific figures were not provided in the available news, it's clear that Onto Innovation's guidance has significantly missed analyst estimates for both revenue and profitability. This unexpected shortfall has raised concerns among investors about the company's near-term growth prospects and potential challenges in the semiconductor industry.

As the market digests this information, analysts and investors will likely be closely monitoring Onto Innovation for any additional details or explanations regarding the lowered forecast. The semiconductor sector, known for its cyclical nature, may face increased scrutiny if Onto's projections signal broader industry headwinds. The company's performance in the coming quarters will be crucial in determining whether this is a temporary setback or indicative of more persistent challenges.