Onto Innovation (ONTO) Expected to Announce Earnings on Thursday

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

Onto Innovation (NYSE:ONTO) last released its quarterly earnings results on Thursday, October 31st. The semiconductor company reported $1.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.31 by $0.03. The firm had revenue of $252.20 million for the quarter, compared to analysts’ expectations of $250.85 million. Onto Innovation had a net margin of 19.44% and a return on equity of 13.38%. The firm’s revenue for the quarter was up 21.7% compared to the same quarter last year. During the same quarter last year, the company 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 Stock Up 4.4 %

ONTO opened at $191.67 on Thursday. The firm’s fifty day simple moving average is $179.97 and its two-hundred day simple moving average is $190.61. Onto Innovation has a 52-week low of $145.15 and a 52-week high of $238.93. The company has a market cap of $9.47 billion, a price-to-earnings ratio of 51.94, a PEG ratio of 1.16 and a beta of 1.29.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on ONTO. Needham & Company LLC lowered their price objective on Onto Innovation from $245.00 to $230.00 and set a “buy” rating on the stock in a report on Friday, November 1st. Jefferies Financial Group dropped their price target on Onto Innovation from $265.00 to $245.00 and set a “buy” rating for the company in a research report on Friday, November 1st. Cantor Fitzgerald initiated coverage on Onto Innovation in a report on Monday, January 13th. They issued an “overweight” rating and a $250.00 price objective on the stock. Oppenheimer reaffirmed an “outperform” rating and set a $275.00 target price on shares of Onto Innovation in a report on Tuesday, December 17th. Finally, Benchmark reissued a “buy” rating and issued a $230.00 price target on shares of Onto Innovation in a research note on Friday, November 1st. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, Onto Innovation presently has an average rating of “Moderate Buy” and an average price target of $253.75.

Insiders Place Their Bets

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

About Onto Innovation

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.