Onto Innovation (NYSE:ONTO) Releases Quarterly Earnings Results, Beats Estimates By $0.14 EPS

Onto Innovation (NYSE:ONTOGet Rating) announced its earnings results on Tuesday. The semiconductor company reported $1.31 EPS for the quarter, topping the consensus estimate of $1.17 by $0.14, MarketWatch Earnings reports. The business had revenue of $241.35 million for the quarter, compared to the consensus estimate of $232.00 million. Onto Innovation had a return on equity of 14.18% and a net margin of 18.04%. Onto Innovation’s revenue was up 42.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.73 EPS. Onto Innovation updated its Q2 guidance to $1.16-1.35 EPS.

Shares of Onto Innovation stock opened at $72.44 on Wednesday. The company’s fifty day simple moving average is $79.47. The company has a market cap of $3.58 billion, a PE ratio of 25.24 and a beta of 1.28. Onto Innovation has a 52 week low of $56.56 and a 52 week high of $106.09.

Institutional investors have recently modified their holdings of the business. Guggenheim Capital LLC raised its position in shares of Onto Innovation by 19.6% during the 4th quarter. Guggenheim Capital LLC now owns 3,831 shares of the semiconductor company’s stock valued at $388,000 after acquiring an additional 627 shares during the last quarter. NewEdge Advisors LLC raised its position in shares of Onto Innovation by 97.0% during the 4th quarter. NewEdge Advisors LLC now owns 6,946 shares of the semiconductor company’s stock valued at $703,000 after acquiring an additional 3,420 shares during the last quarter. Stifel Financial Corp raised its position in shares of Onto Innovation by 13.2% during the 4th quarter. Stifel Financial Corp now owns 8,187 shares of the semiconductor company’s stock valued at $829,000 after acquiring an additional 955 shares during the last quarter. UBS Group AG raised its position in shares of Onto Innovation by 46.1% during the 3rd quarter. UBS Group AG now owns 10,353 shares of the semiconductor company’s stock valued at $748,000 after acquiring an additional 3,268 shares during the last quarter. Finally, LPL Financial LLC raised its position in shares of Onto Innovation by 171.5% during the 3rd quarter. LPL Financial LLC now owns 10,970 shares of the semiconductor company’s stock valued at $797,000 after acquiring an additional 6,929 shares during the last quarter. Institutional investors own 94.34% of the company’s stock.

ONTO has been the topic of several research reports. StockNews.com initiated coverage on Onto Innovation in a report on Thursday, March 31st. They set a “buy” rating on the stock. B. Riley reduced their price objective on Onto Innovation from $125.00 to $115.00 in a report on Wednesday. Needham & Company LLC reduced their price objective on Onto Innovation from $115.00 to $100.00 in a report on Wednesday. Finally, Stifel Nicolaus upped their price objective on Onto Innovation from $100.00 to $125.00 in a report on Friday, January 14th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $109.40.

About Onto Innovation (Get Rating)

Onto Innovation Inc engages in the design, development, manufacture, and support of process control tools that performs 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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