Onto Innovation (NYSE:ONTO) Releases Q4 2021 Earnings Guidance

Onto Innovation (NYSE:ONTO) updated its fourth quarter 2021 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $1.020-$1.160 for the period, compared to the Thomson Reuters consensus estimate of $0.990. The company issued revenue guidance of $210 million-$220 million, compared to the consensus revenue estimate of $204.52 million.

Several equities research analysts have issued reports on the stock. Needham & Company LLC lifted their target price on shares of Onto Innovation from $81.00 to $100.00 and gave the stock a buy rating in a research note on Friday, November 5th. B. Riley lifted their target price on shares of Onto Innovation from $105.00 to $115.00 and gave the stock a buy rating in a research note on Friday, November 5th. Finally, Zacks Investment Research raised shares of Onto Innovation from a hold rating to a buy rating and set a $97.00 target price on the stock in a research note on Monday, November 8th. Four research analysts have rated the stock with a buy rating, According to MarketBeat, Onto Innovation has an average rating of Buy and a consensus target price of $98.00.

Shares of ONTO stock traded up $1.06 on Thursday, hitting $92.65. 150,277 shares of the stock traded hands, compared to its average volume of 316,440. The firm’s 50-day moving average price is $80.19 and its two-hundred day moving average price is $73.26. The stock has a market capitalization of $4.57 billion, a PE ratio of 39.76 and a beta of 1.22. Onto Innovation has a twelve month low of $42.97 and a twelve month high of $94.96.

Onto Innovation (NYSE:ONTO) last announced its quarterly earnings results on Thursday, November 4th. The semiconductor company reported $0.98 earnings per share for the quarter, beating the consensus estimate of $0.92 by $0.06. The firm had revenue of $200.60 million for the quarter, compared to analysts’ expectations of $195.34 million. Onto Innovation had a net margin of 16.08% and a return on equity of 12.66%. The company’s revenue was up 58.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.40 EPS. As a group, equities research analysts expect that Onto Innovation will post 3.73 EPS for the current fiscal year.

In other Onto Innovation news, CFO Steven R. Roth sold 5,000 shares of the company’s stock in a transaction dated Wednesday, November 3rd. The shares were sold at an average price of $83.00, for a total value of $415,000.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Bruce C. Rhine sold 50,000 shares of the business’s stock in a transaction dated Monday, November 1st. The stock was sold at an average price of $80.36, for a total transaction of $4,018,000.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 61,225 shares of company stock worth $4,995,180. Corporate insiders own 1.60% of the company’s stock.

Large investors have recently modified their holdings of the business. UBS Group AG increased its stake in Onto Innovation by 46.1% during the third quarter. UBS Group AG now owns 10,353 shares of the semiconductor company’s stock worth $748,000 after purchasing an additional 3,268 shares during the period. LPL Financial LLC increased its stake in shares of Onto Innovation by 171.5% during the third quarter. LPL Financial LLC now owns 10,970 shares of the semiconductor company’s stock worth $797,000 after buying an additional 6,929 shares during the period. Jane Street Group LLC purchased a new stake in shares of Onto Innovation during the third quarter worth approximately $850,000. Finally, Morgan Stanley increased its stake in shares of Onto Innovation by 51.0% during the second quarter. Morgan Stanley now owns 211,800 shares of the semiconductor company’s stock worth $15,470,000 after buying an additional 71,553 shares during the period. Institutional investors own 96.79% of the company’s stock.

Onto Innovation Company Profile

Onto Innovation, Inc engages in developing process control systems. It offers process control, combining global scale with an expanded portfolio of technologies that include: 3D metrology spanning the chip from nanometer-scale transistors to micron-level die-interconnects, macro defect inspection of wafers and packages, metal interconnect composition, factory analytics, and lithography for advanced semiconductor packaging.

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Earnings History and Estimates for Onto Innovation (NYSE:ONTO)

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