Onto Innovation (ONTO) Set to Announce Quarterly Earnings on Thursday

Onto Innovation (NYSE:ONTO) will be posting 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 earnings results on Thursday, February 8th. The semiconductor company reported $1.06 earnings per share for the quarter, topping the consensus estimate of $0.99 by $0.07. Onto Innovation had a return on equity of 10.95% and a net margin of 14.85%. The firm had revenue of $219.00 million for the quarter, compared to the consensus estimate of $209.06 million. During the same period in the prior year, the business posted $1.57 earnings per share. The firm’s revenue for the quarter was down 13.5% compared to the same quarter last year. 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 %

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

Analyst Upgrades and Downgrades

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

Insider Transactions at Onto Innovation

In related news, CEO Michael P. Plisinski sold 40,000 shares of the stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $175.48, for a total value of $7,019,200.00. Following the completion of the sale, the chief executive officer now directly owns 235,492 shares in the company, valued at approximately $41,324,136.16. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, CEO Michael P. Plisinski sold 40,000 shares of the business’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 of the company’s stock, valued at approximately $41,324,136.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director David Brian Miller sold 2,800 shares of the 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 completion of the sale, the director now directly owns 9,008 shares of the company’s stock, valued at approximately $1,535,773.92. The disclosure for this sale can be found here. Insiders sold 47,170 shares of company stock valued at $8,266,955 over the last 90 days. Corporate insiders own 0.72% of the company’s stock.

Onto Innovation Company Profile

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.