** 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
(Reporting By Sinéad Carew)
((sinead.carew@thomsonreuters.com; +13322191897;))
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