Onto Innovation (NYSE:ONTO) Posts Earnings Results, Beats Estimates By $0.03 EPS

Onto Innovation (NYSE:ONTO) released its quarterly earnings results on Thursday. The semiconductor company reported $1.34 earnings per share for the quarter, topping the consensus estimate of $1.31 by $0.03, Briefing.com reports. Onto Innovation had a return on equity of 13.61% and a net margin of 19.44%. The business had revenue of $252.20 million during the quarter, compared to analysts’ expectations of $250.85 million. During the same period last year, the firm posted $0.96 EPS. The firm’s revenue for the quarter was up 21.7% compared to the same quarter last year. Onto Innovation updated its Q4 guidance to $1.33-1.48 EPS and its Q4 2024 guidance to 1.330-1.480 EPS.

Onto Innovation Price Performance

Shares of NYSE ONTO opened at $176.10 on Friday. The stock has a market capitalization of $8.70 billion, a PE ratio of 47.72, a P/E/G ratio of 1.28 and a beta of 1.37. The business has a fifty day moving average price of $202.50 and a two-hundred day moving average price of $206.68. Onto Innovation has a fifty-two week low of $115.07 and a fifty-two week high of $238.93.

Wall Street Analyst Weigh In

Several equities analysts recently commented on ONTO shares. Needham & Company LLC decreased their price target on shares of Onto Innovation from $245.00 to $230.00 and set a “buy” rating on the stock in a research note on Friday. Benchmark restated a “buy” rating and set a $230.00 target price on shares of Onto Innovation in a research report on Friday. Stifel Nicolaus lifted their price target on shares of Onto Innovation from $240.00 to $270.00 and gave the company a “buy” rating in a research report on Monday, July 15th. Jefferies Financial Group reduced their price target on Onto Innovation from $265.00 to $245.00 and set a “buy” rating on the stock in a research report on Friday. Finally, Oppenheimer raised their price objective on Onto Innovation from $260.00 to $275.00 and gave the stock an “outperform” rating in a research note on Friday. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $254.29.

Insider Activity

In other news, SVP Srinivas Vedula sold 1,275 shares of Onto Innovation stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $207.24, for a total value of $264,231.00. Following the transaction, the senior vice president now owns 16,050 shares in the company, valued at approximately $3,326,202. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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.