Overview
Onto Innovation Q3 revenue slightly missed analyst expectations, declining 13.5% yr/yr
Adjusted EPS for Q3 beats analyst expectations
Company generated record $83.4 mln cash from operations in Q3
Outlook
Company expects Q4 revenue between $250 mln and $265 mln
Onto Innovation forecasts Q4 gross margin of 53.5% to 55%
Company anticipates Q4 GAAP EPS of $0.85 to $1.00
Result Drivers
DRAGONFLY 3Di TECHNOLOGY - Fully qualified by major HBM customers, supporting AI packaging
ATLAS G6 SHIPMENTS - Initial shipments to leading logic and memory customers, with more scheduled
RECORD CASH FROM OPERATIONS - Generated $83.4 mln, representing 185% conversion of non-GAAP net income
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q3 Revenue | Slight Miss* | $218.19 mln | $218.54 mln (7 Analysts) |
Q3 Adjusted EPS | Beat | $0.92 | $0.87 (7 Analysts) |
Q3 EPS | $0.57 | ||
Q3 Net Income | $28.22 mln | ||
Q3 Gross Margin | 50.70% | ||
Q3 Operating Income | $23.69 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 6 "strong buy" or "buy", 3 "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 $150.00, about 9.5% above its November 5 closing price of $135.76
The stock recently traded at 25 times the next 12-month earnings vs. a P/E of 17 three months ago
Press Release: ID:nBwb1sVTZa
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(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.)