Onto Innovation (ONTO) Scheduled to Post Earnings on Thursday

Onto Innovation (NYSE:ONTO) is scheduled to post its quarterly earnings results after the market closes on Thursday, August 8th. Analysts expect Onto Innovation to post earnings of $1.19 per share for the quarter. Onto Innovation has set its Q2 guidance at $1.14-1.26 EPS and its Q2 2024 guidance at 1.140-1.260 EPS.Individual interested in registering for the company’s earnings conference call can do so using this link.

Onto Innovation (NYSE:ONTO) last posted its quarterly earnings data on Thursday, May 9th. The semiconductor company reported $1.18 earnings per share for the quarter, beating the consensus estimate of $1.10 by $0.08. The firm had revenue of $228.80 million for the quarter, compared to analysts’ expectations of $222.60 million. Onto Innovation had a net margin of 16.43% and a return on equity of 11.48%. The business’s quarterly revenue was up 14.9% on a year-over-year basis. During the same quarter last year, the company posted $0.92 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 Stock Performance

Onto Innovation stock opened at $168.47 on Wednesday. The firm’s fifty day moving average price is $214.01 and its 200-day moving average price is $196.12. The stock has a market cap of $8.30 billion, a P/E ratio of 59.95 and a beta of 1.39. Onto Innovation has a fifty-two week low of $105.58 and a fifty-two week high of $238.93.

Insider Buying and Selling at Onto Innovation

In other Onto Innovation news, SVP Srinivas Vedula sold 1,486 shares of the business’s stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $213.40, for a total value of $317,112.40. Following the transaction, the senior vice president now owns 17,433 shares in the company, valued at $3,720,202.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CFO Mark Slicer sold 519 shares of Onto Innovation stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $221.21, for a total transaction of $114,807.99. Following the sale, the chief financial officer now owns 12,552 shares of the company’s stock, valued at approximately $2,776,627.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Srinivas Vedula sold 1,486 shares of Onto Innovation stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $213.40, for a total transaction of $317,112.40. Following the sale, the senior vice president now directly owns 17,433 shares in the company, valued at approximately $3,720,202.20. The disclosure for this sale can be found here. Corporate insiders own 0.72% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on ONTO shares. B. Riley raised their price objective on shares of Onto Innovation from $250.00 to $280.00 and gave the company a “buy” rating in a research report on Thursday, June 20th. Evercore ISI lifted their target price on shares of Onto Innovation from $235.00 to $250.00 and gave the stock an “outperform” rating in a research report on Friday, May 10th. Stifel Nicolaus lifted their target price on shares of Onto Innovation from $240.00 to $270.00 and gave the stock a “buy” rating in a research report on Monday, July 15th. Needham & Company LLC reiterated a “hold” rating on shares of Onto Innovation in a research report on Friday, May 10th. Finally, Benchmark lifted their target price on shares of Onto Innovation from $180.00 to $230.00 and gave the stock a “buy” rating in a research report on Friday, May 10th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $259.00.

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.