Onto Innovation (NYSE:ONTO) Updates Q2 Earnings Guidance

Onto Innovation (NYSE:ONTO) issued an update on its second quarter earnings guidance on Thursday morning. The company provided EPS guidance of $1.14-1.26 for the period, compared to the consensus EPS estimate of $1.12. The company issued revenue guidance of $230-240 million, compared to the consensus revenue estimate of $226.84 million.

Analyst Upgrades and Downgrades

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

Onto Innovation Trading Up 1.1 %

ONTO traded up $2.27 on Thursday, hitting $208.42. 676,716 shares of the stock traded hands, compared to its average volume of 434,110. The business 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 52 week low of $86.04 and a 52 week high of $213.47. The firm has a market capitalization of $10.24 billion, a PE ratio of 83.81 and a beta of 1.40.

Onto Innovation (NYSE:ONTO) last announced its quarterly earnings results on Thursday, February 8th. The semiconductor company reported $1.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.99 by $0.07. The firm had revenue of $219.00 million for the quarter, compared to analyst estimates of $209.06 million. Onto Innovation had a net margin of 14.85% and a return on equity of 10.95%. The business’s revenue for the quarter was down 13.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.57 EPS. On average, equities research analysts forecast that Onto Innovation will post 4.7 EPS for the current fiscal year.

Insider Transactions at Onto Innovation

In other news, CEO Michael P. Plisinski sold 40,000 shares of the business’s stock in a transaction that occurred on 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 transaction, the chief executive officer now directly owns 235,492 shares of the company’s stock, valued at approximately $41,324,136.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, VP Yoon Ah Oh sold 1,685 shares of the business’s stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $180.00, for a total value of $303,300.00. Following the completion of the transaction, the vice president now directly owns 14,913 shares in the company, valued at approximately $2,684,340. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Michael P. Plisinski sold 40,000 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now owns 235,492 shares of the company’s stock, valued at approximately $41,324,136.16. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 47,170 shares of company stock valued at $8,266,955. Corporate 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.