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

(Get Rating)

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.

Featured Articles

Earnings History for Onto Innovation (NYSE:ONTO)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to [email protected]

Should you invest $1,000 in Onto Innovation right now?

Before you consider Onto Innovation, you’ll want to hear this.

MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and Onto Innovation wasn’t on the list.

While Onto Innovation currently has a “Buy” rating among analysts, top-rated analysts believe these five stocks are better buys.

View The 5 Stocks Here


Leave a Reply

Your email address will not be published.

Back to top button

Adblock Detected

Please consider supporting us by disabling your ad blocker