Onto Innovation (NYSE:ONTO) Issues Q4 Earnings Guidance

Onto Innovation (NYSE:ONTO) issued an update on its fourth quarter earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $1.33-1.48 for the period, compared to the consensus estimate of $1.41. The company issued revenue guidance of $253-267 million, compared to the consensus revenue estimate of $259.29 million.

Onto Innovation Stock Performance

Shares of ONTO traded down $9.08 during mid-day trading on Thursday, hitting $198.33. 953,846 shares of the stock were exchanged, compared to its average volume of 562,171. The company has a market cap of $9.79 billion, a PE ratio of 59.20, a price-to-earnings-growth ratio of 1.31 and a beta of 1.36. Onto Innovation has a 52-week low of $108.98 and a 52-week high of $238.93. The firm has a 50-day moving average of $203.44 and a two-hundred day moving average of $206.67.

Onto Innovation (NYSE:ONTO) last posted its quarterly earnings data on Thursday, August 8th. The semiconductor company reported $1.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.20 by $0.12. Onto Innovation had a return on equity of 12.71% and a net margin of 18.50%. The business had revenue of $242.33 million during the quarter, compared to analyst estimates of $235.43 million. During the same period last year, the company earned $0.79 EPS. The company’s revenue for the quarter was up 27.1% on a year-over-year basis. On average, sell-side analysts predict that Onto Innovation will post 5.18 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Oppenheimer raised their price target on Onto Innovation from $260.00 to $275.00 and gave the company an “outperform” rating in a research note on Tuesday, October 1st. Benchmark reiterated a “buy” rating and issued a $230.00 target price on shares of Onto Innovation in a research note on Friday, August 9th. Needham & Company LLC upgraded Onto Innovation from a “hold” rating to a “buy” rating in a research note on Monday, August 19th. Finally, Stifel Nicolaus raised their price objective on Onto Innovation from $240.00 to $270.00 and gave the stock a “buy” rating in a research note on Monday, July 15th. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $261.67.

Insiders Place Their Bets

In other news, SVP Srinivas Vedula sold 1,275 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $207.24, for a total value of $264,231.00. Following the transaction, the senior vice president now directly owns 16,050 shares of the company’s stock, valued at approximately $3,326,202. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.72% of the stock is owned by company insiders.

Onto Innovation Company Profile

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.