Onto Innovation (ONTO) Scheduled to Post Quarterly Earnings on Thursday

Onto Innovation (NYSE:ONTO) will be posting its quarterly earnings results after the market closes on Thursday, October 31st. Analysts expect Onto Innovation to post earnings of $1.31 per share for the quarter. Onto Innovation has set its Q3 guidance at $1.25-1.35 EPS and its Q3 2024 guidance at 1.250-1.350 EPS.Persons interested in participating in the company’s earnings conference call can do so using this link.

Onto Innovation (NYSE:ONTO) last released its quarterly earnings data on Thursday, August 8th. The semiconductor company reported $1.32 earnings per share for the quarter, beating the consensus estimate of $1.20 by $0.12. The business had revenue of $242.33 million for the quarter, compared to analyst estimates of $235.43 million. Onto Innovation had a return on equity of 12.71% and a net margin of 18.50%. The company’s revenue was up 27.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.79 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 opened at $202.24 on Tuesday. The company has a market cap of $9.99 billion, a PE ratio of 60.37, a price-to-earnings-growth ratio of 1.31 and a beta of 1.36. Onto Innovation has a 1 year low of $108.98 and a 1 year high of $238.93. The firm has a 50 day moving average price of $203.54 and a 200 day moving average price of $206.46.

Insider Buying and Selling

In other Onto Innovation news, SVP Srinivas Vedula sold 1,275 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $207.24, for a total transaction of $264,231.00. Following the completion of the sale, the senior vice president now owns 16,050 shares in the company, valued at $3,326,202. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.72% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on ONTO. Needham & Company LLC upgraded shares of Onto Innovation from a “hold” rating to a “buy” rating in a report on Monday, August 19th. Oppenheimer boosted their price objective on Onto Innovation from $260.00 to $275.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 1st. Benchmark reiterated a “buy” rating and issued a $230.00 target price on shares of Onto Innovation in a research note on Friday, August 9th. Finally, Stifel Nicolaus raised their target price on Onto Innovation from $240.00 to $270.00 and gave the company a “buy” rating in a report on Monday, July 15th. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $261.67.

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.