Onto Innovation (ONTO) to Release Earnings on Thursday

Onto Innovation (NYSE:ONTO) will post its quarterly earnings results after the market closes on Thursday, May 9th. Analysts expect Onto Innovation to post earnings of $1.10 per share for the quarter. Onto Innovation has set its Q1 guidance at $1.00-$1.20 EPS and its Q1 2024 guidance at 1.000-1.200 EPS.Investors that are interested in registering for the company’s conference call can do so using this link.

Onto Innovation (NYSE:ONTO) last released its quarterly earnings results on Thursday, February 8th. The semiconductor company reported $1.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.99 by $0.07. The business had revenue of $219.00 million during the quarter, compared to the consensus estimate of $209.06 million. Onto Innovation had a return on equity of 10.95% and a net margin of 14.85%. The business’s quarterly revenue was down 13.5% compared to the same quarter last year. During the same period in the previous year, the company posted $1.57 EPS. On average, analysts expect Onto Innovation to post $5 EPS for the current fiscal year and $6 EPS for the next fiscal year.

Onto Innovation Trading Up 1.3 %

ONTO opened at $211.34 on Wednesday. The company’s 50 day moving average is $185.05 and its 200 day moving average is $160.64. The company has a market cap of $10.38 billion, a price-to-earnings ratio of 85.91 and a beta of 1.40. Onto Innovation has a 12-month low of $84.17 and a 12-month high of $213.47.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Benchmark lifted their price target on shares of Onto Innovation from $145.00 to $180.00 and gave the stock a “buy” rating in a research note on Friday, February 9th. StockNews.com raised Onto Innovation from a “sell” rating to a “hold” rating in a report on Monday, February 12th. B. Riley raised their price objective on Onto Innovation from $195.00 to $205.00 and gave the stock a “buy” rating in a research note on Friday, February 9th. Stifel Nicolaus boosted their price objective on Onto Innovation from $188.00 to $215.00 and gave the company a “buy” rating in a research note on Monday, March 25th. Finally, Evercore ISI initiated coverage on shares of Onto Innovation in a research note on Tuesday, April 16th. They set an “outperform” rating and a $235.00 target price on the stock. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $191.60.

Insider Activity

In other Onto Innovation news, VP Yoon Ah Oh sold 2,685 shares of the company’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $173.96, for a total value of $467,082.60. Following the completion of the sale, the vice president now directly owns 16,598 shares in the company, valued at approximately $2,887,388.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Onto Innovation news, Director David Brian Miller sold 2,800 shares of the stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $170.49, for a total transaction of $477,372.00. Following the sale, the director now owns 9,008 shares of the company’s stock, valued at approximately $1,535,773.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Yoon Ah Oh sold 2,685 shares of Onto Innovation stock in a transaction on Friday, March 15th. The shares were sold at an average price of $173.96, for a total value of $467,082.60. Following the completion of the transaction, the vice president now owns 16,598 shares in the company, valued at $2,887,388.08. The disclosure for this sale can be found here. Over the last quarter, insiders sold 47,170 shares of company stock valued at $8,266,955. Corporate insiders own 0.72% of the company’s stock.

About Onto Innovation

Onto Innovation Inc engages in the design, development, manufacture, and support of process control tools that performs optical metrology. The company offers lithography systems and process control analytical software. It also offers process and yield management solutions, and device packaging and test facilities through standalone systems for optical metrology, macro-defect inspection, packaging lithography, and transparent and opaque thin film measurements.