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

Onto Innovation (NYSE:ONTO) is set to announce 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.Persons that wish to register 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, February 8th. The semiconductor company reported $1.06 EPS for the quarter, topping analysts’ consensus estimates of $0.99 by $0.07. The firm had revenue of $219.00 million during the quarter, compared to analysts’ expectations of $209.06 million. Onto Innovation had a return on equity of 10.95% and a net margin of 14.85%. The firm’s quarterly revenue was down 13.5% compared to the same quarter last year. During the same quarter last year, the business posted $1.57 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 Trading Down 0.0 %

Onto Innovation stock opened at $185.47 on Thursday. The stock has a market cap of $9.11 billion, a PE ratio of 75.39 and a beta of 1.40. The stock has a 50-day moving average price of $183.07 and a 200 day moving average price of $158.16. Onto Innovation has a 52 week low of $80.17 and a 52 week high of $199.72.

Insider Transactions at Onto Innovation

In other news, Director David Brian Miller sold 2,800 shares of the stock in a transaction dated 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 owns 9,008 shares of the company’s stock, valued at $1,535,773.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Onto Innovation news, Director David Brian Miller sold 2,800 shares of the firm’s stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $170.49, for a total value of $477,372.00. Following the transaction, the director now owns 9,008 shares of the company’s stock, valued at $1,535,773.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Yoon Ah Oh sold 2,685 shares of the firm’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $173.96, for a total transaction of $467,082.60. Following the completion of the transaction, the vice president now directly owns 16,598 shares in the company, valued at approximately $2,887,388.08. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 47,170 shares of company stock valued at $8,266,955. Insiders own 0.72% of the company’s stock.

Analyst Upgrades and Downgrades

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

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.