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

Onto Innovation (NYSE:ONTO) will be announcing its earnings results after the market closes on Thursday, May 9th. Analysts expect the company to announce 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 data on Thursday, February 8th. The semiconductor company reported $1.06 EPS for the quarter, beating the consensus estimate of $0.99 by $0.07. Onto Innovation had a net margin of 14.85% and a return on equity of 10.95%. The business had revenue of $219.00 million during the quarter, compared to the consensus estimate of $209.06 million. During the same quarter in the prior year, the firm earned $1.57 EPS. The business’s revenue was down 13.5% on a year-over-year basis. 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 Up 3.9 %

ONTO opened at $208.65 on Tuesday. The firm has a 50-day simple moving average of $184.43 and a two-hundred day simple moving average of $159.98. Onto Innovation has a 52 week low of $84.17 and a 52 week high of $210.11. The company has a market capitalization of $10.25 billion, a PE ratio of 84.82 and a beta of 1.40.

Analyst Ratings Changes

ONTO has been the subject of a number of analyst reports. Evercore ISI initiated coverage on shares of Onto Innovation in a report on Tuesday, April 16th. They issued an “outperform” rating and a $235.00 price target for the company. Benchmark increased their price target on shares of Onto Innovation from $145.00 to $180.00 and gave the company a “buy” rating in a report on Friday, February 9th. Stifel Nicolaus increased their price target on shares of Onto Innovation from $188.00 to $215.00 and gave the company a “buy” rating in a report on Monday, March 25th. StockNews.com raised shares of Onto Innovation from a “sell” rating to a “hold” rating in a report on Monday, February 12th. Finally, B. Riley increased their price objective on shares of Onto Innovation from $195.00 to $205.00 and gave the stock a “buy” rating in a research report on Friday, February 9th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, Onto Innovation has an average rating of “Moderate Buy” and an average price target of $191.60.

Insider Transactions at Onto Innovation

In other news, Director David Brian Miller sold 2,800 shares of the firm’s stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $170.49, for a total transaction of $477,372.00. Following the transaction, the director now directly owns 9,008 shares of the company’s stock, valued at $1,535,773.92. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, Director David Brian Miller sold 2,800 shares of the firm’s stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $170.49, for a total transaction of $477,372.00. Following the transaction, the director now directly owns 9,008 shares of the company’s stock, valued at $1,535,773.92. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Michael P. Plisinski sold 40,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $175.48, for a total transaction of $7,019,200.00. Following the transaction, the chief executive officer now directly owns 235,492 shares in the company, valued at $41,324,136.16. The disclosure for this sale can be found here. Over the last three months, insiders have sold 47,170 shares of company stock valued at $8,266,955. 0.72% of the stock is currently owned by company insiders.

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.