Cardiff Oncology shares plunge after Q2 earnings miss
In a challenging market environment, Nanometrics Incorporated (ONTO) stock has reached a 52-week low, trading at $129.39. According to InvestingPro analysis, the company maintains robust financial health with a "GOOD" overall rating and holds more cash than debt on its balance sheet. The company, known for its advanced process control solutions, has faced significant headwinds over the past year, reflected in a substantial 1-year change with a decline of -29.54%. Despite the price decline, ONTO maintains strong fundamentals with a healthy current ratio of 8.69 and impressive revenue growth of 21% over the last twelve months. InvestingPro analysis suggests the stock is currently undervalued, with 12 additional exclusive insights available to subscribers, including detailed valuation metrics and growth forecasts.
In other recent news, Onto Innovation (NYSE:ONTO) Inc. reported impressive financial results for the fourth quarter of 2024, surpassing expectations with earnings per share (EPS) of $1.51 against the forecasted $1.41. The company’s revenue also exceeded projections, reaching $264 million compared to the anticipated $259.29 million, marking a 21% year-over-year increase. This performance was bolstered by strong growth in AI packaging and advanced metrology, with Onto Innovation maintaining a 60% market share in the AI packaging sector. Despite these positive results, Onto Innovation’s stock experienced a decline in after-hours trading.
Analyst Matthew Prisco from Cantor Fitzgerald maintained an Overweight rating on Onto Innovation, with a price target of $250.00, highlighting the company’s potential for robust growth driven by AI infrastructure development. Prisco suggested that the company’s growth narrative is expected to continue into 2025 and 2026, supported by the expanding AI sector. Looking ahead, Onto Innovation has provided revenue guidance for the first quarter of 2025 between $260 million and $274 million, with an EPS range of $1.40 to $1.54.
CEO Mike Bircinski emphasized the company’s focus on AI as a multi-year growth driver and noted that new product launches are anticipated to drive revenue growth in late 2025 and beyond. The company also projects continued improvement in gross margins, which reached 55% in Q4 2024. Onto Innovation’s strategic market expansion and innovative products have positioned it strongly in the semiconductor industry, despite facing challenges such as supply chain disruptions and macroeconomic pressures.
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