Onto Innovation (NYSE:ONTO) Posts Quarterly Earnings Results

Onto Innovation (NYSE:ONTO) released its quarterly earnings results on Thursday. The semiconductor company reported $1.18 earnings per share for the quarter, beating analysts’ consensus estimates of $1.10 by $0.08, Briefing.com reports. The company had revenue of $228.80 million for the quarter, compared to analysts’ expectations of $222.60 million. Onto Innovation had a return on equity of 10.95% and a net margin of 14.85%. The business’s revenue for the quarter was up 14.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.92 earnings per share. Onto Innovation updated its Q2 guidance to $1.14-1.26 EPS.

Onto Innovation Stock Performance

Shares of Onto Innovation stock traded up $2.27 during trading on Thursday, hitting $208.42. 676,653 shares of the stock traded hands, compared to its average volume of 435,878. The company has a fifty day moving average price of $185.56 and a two-hundred day moving average price of $160.96. Onto Innovation has a twelve month low of $86.04 and a twelve month high of $213.47. The stock has a market cap of $10.24 billion, a P/E ratio of 84.72 and a beta of 1.40.

Insider Buying and Selling at Onto Innovation

In other news, CEO Michael P. Plisinski sold 40,000 shares of the firm’s stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $175.48, for a total transaction of $7,019,200.00. Following the transaction, the chief executive officer now owns 235,492 shares in the company, valued at approximately $41,324,136.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Onto Innovation news, VP Yoon Ah Oh sold 1,685 shares of the stock in a transaction on Monday, March 18th. The shares were sold at an average price of $180.00, for a total value of $303,300.00. Following the completion of the sale, the vice president now directly owns 14,913 shares of the company’s stock, valued at approximately $2,684,340. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Michael P. Plisinski sold 40,000 shares of Onto Innovation stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $175.48, for a total value of $7,019,200.00. Following the sale, the chief executive officer now directly owns 235,492 shares in the company, valued at $41,324,136.16. The disclosure for this sale can be found here. Insiders sold 47,170 shares of company stock worth $8,266,955 over the last ninety days. 0.72% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. StockNews.com upgraded shares of Onto Innovation from a “sell” rating to a “hold” rating in a report on Monday, February 12th. Benchmark upped their price target on shares of Onto Innovation from $145.00 to $180.00 and gave the company a “buy” rating in a report on Friday, February 9th. B. Riley boosted their target price on shares of Onto Innovation from $195.00 to $205.00 and gave the stock a “buy” rating in a report on Friday, February 9th. Stifel Nicolaus upped their price target on Onto Innovation from $188.00 to $215.00 and gave the company a “buy” rating in a report on Monday, March 25th. Finally, Evercore ISI started coverage on Onto Innovation in a research note on Tuesday, April 16th. They set an “outperform” rating and a $235.00 price objective for the company. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, Onto Innovation has a consensus rating of “Moderate Buy” and an average target price of $191.60.

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.