Onto Innovation (ONTO) Expected to Announce Quarterly Earnings on Thursday

Onto Innovation (NYSE:ONTO - Get Free Report) 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. Parties that are interested in participating in the company's conference call can do so using this link.

Onto Innovation (NYSE:ONTO - Get Free Report) last issued its quarterly earnings data on Thursday, October 31st. The semiconductor company reported $1.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.31 by $0.03. The business had revenue of $252.20 million for the quarter, compared to analysts' expectations of $250.85 million. Onto Innovation had a return on equity of 13.38% and a net margin of 19.44%. The company's revenue for the quarter was up 21.7% on a year-over-year basis. During the same period in the prior year, the firm 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 Performance

NYSE ONTO traded up $11.31 on Thursday, reaching $203.12. 536,963 shares of the stock traded hands, compared to its average volume of 867,949. Onto Innovation has a 12 month low of $145.15 and a 12 month high of $238.93. The company has a fifty day moving average price of $180.57 and a 200-day moving average price of $190.62. The company has a market cap of $10.03 billion, a price-to-earnings ratio of 54.93, a PEG ratio of 1.16 and a beta of 1.29.

Insider Activity

In related news, SVP Srinivas Vedula sold 827 shares of the company's stock in a transaction on 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 $3,120,715. This represents a 5.15 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Michael P. Plisinski sold 35,000 shares of the business's stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $219.19, for a total transaction of $7,671,650.00. Following the sale, the chief executive officer now directly owns 150,492 shares of the company's stock, valued at $32,986,341.48. This represents a 18.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 85,827 shares of company stock valued at $18,182,185. Company insiders own 0.72% of the company's stock.

Analysts Set New Price Targets

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

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.