Onto Innovation (NYSE:ONTO) Updates Q3 Earnings Guidance

Onto Innovation (NYSE:ONTO) issued an update on its third quarter earnings guidance on Thursday morning. The company provided EPS guidance of $1.25-1.35 for the period, compared to the consensus EPS estimate of $1.22. The company issued revenue guidance of $245-255 million, compared to the consensus revenue estimate of $233.80 million.

Analysts Set New Price Targets

A number of research analysts have recently commented on ONTO shares. B. Riley boosted their price target on shares of Onto Innovation from $250.00 to $280.00 and gave the company a buy rating in a research report on Thursday, June 20th. Benchmark lifted their price target on Onto Innovation from $180.00 to $230.00 and gave the company a buy rating in a research report on Friday, May 10th. Evercore ISI lifted their target price on shares of Onto Innovation from $235.00 to $250.00 and gave the company an outperform rating in a research report on Friday, May 10th. Stifel Nicolaus raised their price objective on shares of Onto Innovation from $240.00 to $270.00 and gave the company a buy rating in a research report on Monday, July 15th. Finally, Jefferies Financial Group began coverage on shares of Onto Innovation in a research report on Monday, May 13th. They issued a buy rating and a $265.00 target price for the company. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Onto Innovation presently has an average rating of Moderate Buy and an average target price of $259.00.

Onto Innovation Trading Up 8.4 %

Shares of NYSE:ONTO traded up $13.81 on Thursday, reaching $177.81. 928,383 shares of the company traded hands, compared to its average volume of 547,284. Onto Innovation has a 52 week low of $105.58 and a 52 week high of $238.93. The business’s 50-day simple moving average is $211.53 and its 200 day simple moving average is $195.93. The stock has a market capitalization of $8.76 billion, a P/E ratio of 58.37 and a beta of 1.39.

Onto Innovation (NYSE:ONTO) last announced its quarterly earnings results on Thursday, May 9th. The semiconductor company reported $1.18 EPS for the quarter, topping analysts’ consensus estimates of $1.10 by $0.08. Onto Innovation had a return on equity of 11.48% and a net margin of 16.43%. The business had revenue of $228.80 million for the quarter, compared to analysts’ expectations of $222.60 million. During the same period in the previous year, the firm earned $0.92 EPS. The business’s quarterly revenue was up 14.9% on a year-over-year basis. Sell-side analysts expect that Onto Innovation will post 5.05 EPS for the current fiscal year.

Insider Buying and Selling at Onto Innovation

In other news, CFO Mark Slicer sold 519 shares of the company’s stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $221.21, for a total transaction of $114,807.99. Following the completion of the transaction, the chief financial officer now directly owns 12,552 shares of the company’s stock, valued at $2,776,627.92. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Onto Innovation news, SVP Srinivas Vedula sold 1,486 shares of the company’s stock in a transaction on Monday, June 10th. The shares were sold at an average price of $213.40, for a total value of $317,112.40. Following the completion of the transaction, the senior vice president now directly owns 17,433 shares in the company, valued at approximately $3,720,202.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Mark Slicer sold 519 shares of Onto Innovation stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $221.21, for a total transaction of $114,807.99. Following the sale, the chief financial officer now directly owns 12,552 shares in the company, valued at approximately $2,776,627.92. The disclosure for this sale can be found here. 0.72% of the stock is currently owned by corporate insiders.

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.