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

Onto Innovation (NYSE:ONTO) will likely be releasing its earnings data after the market closes on Thursday, February 6th. Analysts expect Onto Innovation to post earnings of $1.41 per share and revenue of $260.53 million for the quarter. Persons that are interested in registering for the company’s earnings conference call can do so using this link.

Onto Innovation (NYSE:ONTO) last announced its quarterly earnings data on Thursday, October 31st. The semiconductor company reported $1.34 earnings per share for the quarter, beating analysts’ consensus estimates of $1.31 by $0.03. The business had revenue of $252.20 million for the quarter, compared to analyst estimates of $250.85 million. Onto Innovation had a net margin of 19.44% and a return on equity of 13.38%. The company’s revenue was up 21.7% on a year-over-year basis. During the same period last year, the business earned $0.96 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 Up 4.4 %

Shares of ONTO stock opened at $191.67 on Thursday. The company has a market cap of $9.47 billion, a P/E ratio of 51.94, a PEG ratio of 1.16 and a beta of 1.29. The firm has a fifty day moving average price of $179.97 and a 200 day moving average price of $190.61. Onto Innovation has a 12 month low of $145.15 and a 12 month high of $238.93.

Insider Buying and Selling

In other news, SVP Srinivas Vedula sold 827 shares of the firm’s stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $205.00, for a total value of $169,535.00. Following the completion of the sale, the senior vice president now owns 15,223 shares in the company, valued at approximately $3,120,715. This trade represents a 5.15 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Michael P. Plisinski sold 20,000 shares of the business’s stock in a transaction dated Tuesday, January 14th. The stock was sold at an average price of $200.19, for a total transaction of $4,003,800.00. Following the transaction, the chief executive officer now owns 215,492 shares in the company, valued at approximately $43,139,343.48. This trade represents a 8.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 85,827 shares of company stock worth $18,182,185 in the last 90 days. Company insiders own 0.72% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on ONTO shares. Oppenheimer reiterated an “outperform” rating and issued a $275.00 price objective on shares of Onto Innovation in a report on Tuesday, December 17th. Needham & Company LLC dropped 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, November 1st. Cantor Fitzgerald began coverage on shares of Onto Innovation in a research report on Monday, January 13th. They set an “overweight” rating and a $250.00 price objective for the company. Benchmark restated a “buy” rating and issued a $230.00 target price on shares of Onto Innovation in a report on Friday, November 1st. Finally, Jefferies Financial Group reduced their price target on shares of Onto Innovation from $265.00 to $245.00 and set a “buy” rating for the company in a research report on Friday, November 1st. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $253.75.

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.