Onto Innovation (ONTO) Set to Announce Earnings on Tuesday

Onto Innovation (NYSE:ONTO – Get Rating) will be posting its quarterly earnings results after the market closes on Tuesday, August 9th. Analysts expect Onto Innovation to post earnings of $1.26 per share for the quarter. Investors who wish to register for the company’s conference call can do so using this link.

Onto Innovation (NYSE:ONTO – Get Rating) last released its earnings results on Tuesday, May 3rd. The semiconductor company reported $1.31 earnings per share for the quarter, topping the consensus estimate of $1.16 by $0.15. The company had revenue of $241.35 million for the quarter, compared to the consensus estimate of $232.00 million. Onto Innovation had a net margin of 19.93% and a return on equity of 15.81%. Onto Innovation’s revenue was up 42.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.73 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 1.3%

NYSE:ONTO opened at $82.15 on Tuesday. The company has a market cap of $4.07 billion, a PE ratio of 23.81 and a beta of 1.33. Onto Innovation has a twelve month low of $59.95 and a twelve month high of $106.09. The company’s 50 day moving average is $73.75 and its two-hundred day moving average is $78.91.

Analyst Ratings Changes

Several analysts have weighed in on ONTO shares. B. Riley dropped their target price on shares of Onto Innovation from $115.00 to $105.00 and set a “buy” rating on the stock in a research report on Wednesday, June 15th. DA Davidson reaffirmed a “buy” rating on shares of Onto Innovation in a report on Wednesday, July 27th. Finally, Needham & Company LLC dropped their price objective on shares of Onto Innovation from $115.00 to $100.00 in a report on Wednesday, May 4th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, Onto Innovation has a consensus rating of “Buy” and an average target price of $110.00.

Institutional Trading of Onto Innovation

A number of hedge funds have recently added to or reduced their stakes in ONTO. Robeco Schweiz AG boosted its holdings in Onto Innovation by 10.2% during the first quarter. Robeco Schweiz AG now owns 1,300,000 shares of the semiconductor company’s stock worth $112,957,000 after buying an additional 120,000 shares in the last quarter. Blue Grotto Capital LLC raised its position in Onto Innovation by 50.2% during the first quarter. Blue Grotto Capital LLC now owns 221,137 shares of the semiconductor company’s stock worth $19,215,000 after acquiring an additional 73,870 shares during the period. Clearbridge Investments LLC acquired a new position in Onto Innovation during the first quarter worth $5,190,000. State Street Corp raised its position in Onto Innovation by 3.6% during the first quarter. State Street Corp now owns 1,588,939 shares of the semiconductor company’s stock worth $138,063,000 after acquiring an additional 54,530 shares during the period. Finally, Goldman Sachs Group Inc. raised its position in Onto Innovation by 6.0% during the first quarter. Goldman Sachs Group Inc. now owns 956,452 shares of the semiconductor company’s stock worth $83,106,000 after acquiring an additional 53,795 shares during the period. 94.34% of the stock is owned by hedge funds and other institutional investors.

Onto Innovation Company Profile

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Onto Innovation Inc engages in the design, development, manufacture, and support of process control tools that perform macro defect inspection and 2D/3D optical metrology, lithography systems, and process control analytical software worldwide. It offers process and yield management solutions, and device packaging and test facilities through standalone systems for macro-defect inspection, packaging lithography, probe card test and analysis, and transparent and opaque thin film measurements; and process control software portfolio that includes solutions for standalone tools, groups of tools, and enterprise-or factory-wide suites.

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Earnings History for Onto Innovation (NYSE:ONTO)

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