Gold prices fall as geopolitical tensions ease; U.S. CPI looms
Onto Innovation Inc. (NYSE:ONTO), a semiconductor equipment maker with a market capitalization of $4.9 billion and an impressive "GREAT" financial health rating according to InvestingPro, appointed Brian Roberts as its new chief financial officer, replacing Mark Slicer who will assist with the transition before leaving the company, the semiconductor equipment maker announced Thursday.
Roberts previously served as CFO at Sensata Technologies and brings experience scaling organizations across multiple industries including biotech, semiconductors, and software, according to Stifel, which reiterated its buy rating and $117.00 price target on Onto’s stock. The company maintains a strong balance sheet with minimal debt and healthy liquidity, as evidenced by its current ratio of 8.4x.
The company simultaneously announced Shirley Chen as senior vice president of customer success, where she will lead Onto’s sales and service organization. Chen replaces Srini Vedula, who departed the company in early April.
Chen previously held senior vice president sales positions at Thermo-Fisher Scientific’s Global Semiconductor division and at KLA, where she led semiconductor process control products including inspection, metrology and software. Her background also includes roles at FormFactor (NASDAQ:FORM) and Intel (NASDAQ:INTC).
Stifel noted it expects an orderly transition for the CFO position and does not believe the timing of the announcement has any bearing on Onto Innovation’s current quarter outlook. Despite the stock’s 55% decline over the past year, analysts maintain a bullish stance with price targets ranging from $110 to $235. For deeper insights into Onto Innovation’s valuation and growth prospects, check out the comprehensive research available on InvestingPro, which features detailed analysis of over 1,400 US stocks.
In other recent news, Onto Innovation reported first-quarter 2025 earnings, achieving an earnings per share (EPS) of $1.51, slightly above the consensus estimate of $1.47. The company also posted a revenue of $267 million, surpassing the expected $266.94 million and marking a significant increase from the previous year’s $228.846 million. Despite these positive results, Onto Innovation’s second-quarter guidance fell short, with EPS projections between $1.21 and $1.35, below the consensus estimate of $1.50, and revenue projections of $240-260 million, compared to the expected $268.5 million. This outlook prompted analysts like Stifel and Jefferies to downgrade their ratings and lower price targets for the company, citing concerns over market share and competition in the Advanced Packaging (NYSE:PKG) segment.
In executive news, Onto Innovation appointed Brian Roberts as the new Chief Financial Officer and Shirley Chen as Senior Vice President of Customer Success, both bringing extensive experience in the semiconductor industry. Meanwhile, Jefferies downgraded Onto Innovation’s stock from Buy to Hold, reducing the price target to $110, due to concerns about the AI Packaging market correction. Similarly, Stifel also downgraded the stock to Hold and adjusted the price target to $117, despite noting strong revenue growth in advanced nodes. These recent developments highlight the challenges and opportunities facing Onto Innovation as it navigates a competitive and evolving market landscape.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.