Wall Street analysts expect Onto Innovation (NASDAQ:ONTO) to post earnings of $0.40 per share for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for Onto Innovation’s earnings. The highest EPS estimate is $0.43 and the lowest is $0.36. Onto Innovation posted earnings per share of $0.19 in the same quarter last year, which would indicate a positive year-over-year growth rate of 110.5%. The company is scheduled to announce its next quarterly earnings results on Tuesday, May 5th.
On average, analysts expect that Onto Innovation will report full year earnings of $1.96 per share for the current year, with EPS estimates ranging from $1.75 to $2.35. Zacks’ EPS calculations are an average based on a survey of sell-side analysts that cover Onto Innovation.
Onto Innovation (NASDAQ:ONTO) last issued its quarterly earnings results on Thursday, February 6th. The company reported $0.41 EPS for the quarter, topping the Zacks’ consensus estimate of $0.39 by $0.02. The company had revenue of $120.56 million during the quarter, compared to the consensus estimate of $117.52 million. During the same quarter in the previous year, the business posted $0.33 EPS. The firm’s revenue for the quarter was up 92.0% on a year-over-year basis.
A number of brokerages recently commented on ONTO. TheStreet upgraded Onto Innovation from a “c+” rating to a “b-” rating in a research report on Monday, October 28th. Zacks Investment Research cut Onto Innovation from a “buy” rating to a “hold” rating in a research report on Thursday, January 9th. Benchmark raised their price target on Onto Innovation from $40.00 to $50.00 and gave the stock a “buy” rating in a research report on Friday. B. Riley raised their price target on Onto Innovation from $47.00 to $53.00 and gave the stock a “buy” rating in a research report on Friday. Finally, Needham & Company LLC restated a “buy” rating and issued a $44.00 price target on shares of Onto Innovation in a research report on Tuesday, January 21st. One research analyst has rated the stock with a hold rating and three have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $47.00.
In other Onto Innovation news, Director Bruce C. Rhine sold 25,000 shares of Onto Innovation stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $34.66, for a total value of $866,500.00. Following the transaction, the director now owns 667,117 shares in the company, valued at $23,122,275.22. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Bruce C. Rhine sold 80,000 shares of Onto Innovation stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $40.01, for a total value of $3,200,800.00. Following the completion of the transaction, the director now owns 628,387 shares in the company, valued at approximately $25,141,763.87. The disclosure for this sale can be found here. In the last quarter, insiders sold 105,168 shares of company stock worth $4,073,439.
Shares of NASDAQ ONTO opened at $38.45 on Thursday. Onto Innovation has a 52 week low of $26.51 and a 52 week high of $42.50. The stock has a fifty day moving average of $37.65.
Onto Innovation Company Profile
Onto Innovation Inc designs, develops, manufactures, and supports process control defect inspection and metrology, advanced packaging lithography, and process control software systems used by microelectronic device manufacturers. It offers process and yield management solutions used in bare silicon wafer production and processing facilities, and device packaging and test facilities through standalone systems for macro-defect inspection, packaging lithography, probe card test and analysis, and transparent and opaque thin film measurements.
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