Research Analysts Offer Predictions for Onto Innovation Inc.’s Q2 2022 Earnings (NYSE:ONTO)

Onto Innovation Inc. (NYSE:ONTOGet Rating) – Equities research analysts at DA Davidson issued their Q2 2022 earnings per share estimates for shares of Onto Innovation in a research note issued on Wednesday, May 4th. DA Davidson analyst T. Diffely forecasts that the semiconductor company will post earnings of $1.26 per share for the quarter. DA Davidson also issued estimates for Onto Innovation’s FY2022 earnings at $5.16 EPS and FY2023 earnings at $5.70 EPS.

Onto Innovation (NYSE:ONTOGet Rating) last announced its quarterly earnings results on Tuesday, May 3rd. The semiconductor company reported $1.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.17 by $0.14. Onto Innovation had a net margin of 18.04% and a return on equity of 14.18%. The company had revenue of $241.35 million for the quarter, compared to the consensus estimate of $232.00 million. During the same period in the previous year, the firm posted $0.73 EPS. Onto Innovation’s revenue for the quarter was up 42.6% compared to the same quarter last year.

Other equities research analysts have also issued research reports about the stock. StockNews.com initiated coverage on shares of Onto Innovation in a report on Thursday, March 31st. They issued a “buy” rating for the company. B. Riley cut their price target on shares of Onto Innovation from $125.00 to $115.00 in a research note on Wednesday. Stifel Nicolaus increased their price target on shares of Onto Innovation from $100.00 to $125.00 in a report on Friday, January 14th. Finally, Needham & Company LLC lowered their price target on shares of Onto Innovation from $115.00 to $100.00 in a report on Wednesday. Five investment analysts have rated the stock with a buy rating, According to MarketBeat.com, Onto Innovation currently has a consensus rating of “Buy” and an average target price of $109.40.

ONTO stock opened at $77.40 on Thursday. Onto Innovation has a 12 month low of $56.56 and a 12 month high of $106.09. The company has a 50-day moving average price of $79.28 and a 200 day moving average price of $86.81. The stock has a market cap of $3.82 billion, a PE ratio of 22.43 and a beta of 1.28.

Institutional investors and hedge funds have recently made changes to their positions in the business. CWM LLC increased its position in shares of Onto Innovation by 186.1% during the first quarter. CWM LLC now owns 309 shares of the semiconductor company’s stock valued at $27,000 after acquiring an additional 201 shares during the last quarter. Liberty Wealth Management LLC increased its position in shares of Onto Innovation by 96.1% during the third quarter. Liberty Wealth Management LLC now owns 400 shares of the semiconductor company’s stock valued at $31,000 after acquiring an additional 196 shares during the last quarter. Quadrant Capital Group LLC increased its position in shares of Onto Innovation by 78.6% during the fourth quarter. Quadrant Capital Group LLC now owns 384 shares of the semiconductor company’s stock valued at $39,000 after acquiring an additional 169 shares during the last quarter. Signaturefd LLC increased its position in shares of Onto Innovation by 144.8% during the first quarter. Signaturefd LLC now owns 448 shares of the semiconductor company’s stock valued at $39,000 after acquiring an additional 265 shares during the last quarter. Finally, Lazard Asset Management LLC acquired a new stake in shares of Onto Innovation during the fourth quarter valued at about $72,000. Institutional investors and hedge funds own 94.34% of the company’s stock.

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 and Estimates for Onto Innovation (NYSE:ONTO)

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