Movement Alert｜Onto Innovation Inc. Falls 5.09% in Regular Trading, Pre-Earnings Cooling and Target Price Cut Weigh on Shares

Market Focus11-03 03:41

On November 3, Onto Innovation Inc. fell 5.09% in Regular Trading, trading near $191.555, with turnover of $94.5365 million.

The move coincided with cooling pre-earnings trading sentiment ahead of the company’s November 9 results and followed a previously disclosed target price cut to $340 from $390, although the buy rating was maintained.

Consensus expectations still point to strong quarterly growth, with revenue seen at about $392 million, up 79.38% year over year, adjusted EPS at about $2.30, up 165.28%, and EBIT near $124 million, up 188.16%. Even so, recent reports indicated that short-term positioning tied to earlier earnings-driven estimate upgrades has moderated. Broader semiconductor equipment weakness also added pressure, with Lam Research, Applied Materials, ASML Holding NV, and KLA Corporation all lower during the session.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

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