Onto Innovation (NYSE:ONTO) Posts Quarterly Earnings Results

Key Points

• Onto Innovation beat EPS: reported $1.42 vs $1.38 consensus (beat by $0.04), while revenue was essentially in line at $291.95M; the company posted a 12.2% ROE and a 13.6% net margin.
• Stock rallied: shares jumped to $304.76 on elevated volume, trading near a 52‑week high ($316) and valuing the company at about $15.16B with a P/E of 110.02.
• Analysts remain bullish: most firms give a "Buy" rating with recent price target raises up to $350 and a consensus target around $300.63, while institutional ownership is roughly 98.35%.

Onto Innovation (NYSE:ONTO - Get Free Report) announced its quarterly earnings data on Tuesday. The semiconductor company reported $1.42 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.38 by $0.04, FiscalAI reports. The company had revenue of $291.95 million for the quarter, compared to analysts' expectations of $292.00 million. Onto Innovation had a return on equity of 12.20% and a net margin of 13.60%.

Onto Innovation Price Performance

Onto Innovation stock traded up $5.21 during mid-day trading on Tuesday, hitting $304.76. 1,279,661 shares of the company's stock traded hands, compared to its average volume of 901,572. The firm has a 50 day simple moving average of $230.54 and a two-hundred day simple moving average of $189.51. Onto Innovation has a fifty-two week low of $85.88 and a fifty-two week high of $316.00. The stock has a market cap of $15.16 billion, a price-to-earnings ratio of 110.02, a P/E/G ratio of 1.45 and a beta of 1.70.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on ONTO. Stifel Nicolaus set a $350.00 target price on shares of Onto Innovation and gave the stock a "buy" rating in a report on Friday, April 17th. Needham & Company LLC increased their price target on shares of Onto Innovation from $275.00 to $320.00 and gave the company a "buy" rating in a research note on Monday, April 20th. Oppenheimer lifted their price objective on shares of Onto Innovation from $265.00 to $350.00 and gave the company an "outperform" rating in a research report on Friday, April 17th. B. Riley Financial boosted their price objective on shares of Onto Innovation from $275.00 to $310.00 and gave the stock a "buy" rating in a research note on Monday, April 13th. Finally, Jefferies Financial Group reaffirmed a "buy" rating and issued a $300.00 target price on shares of Onto Innovation in a report on Friday, February 20th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of "Buy" and a consensus target price of $300.63.

Hedge Funds Weigh In On Onto Innovation

Large investors have recently modified their holdings of the stock. Transamerica Financial Advisors LLC boosted its holdings in shares of Onto Innovation by 188.5% during the 4th quarter. Transamerica Financial Advisors LLC now owns 176 shares of the semiconductor company's stock worth $28,000 after buying an additional 115 shares during the period. Danske Bank A S bought a new position in Onto Innovation in the 3rd quarter valued at about $39,000. Los Angeles Capital Management LLC bought a new position in Onto Innovation in the 4th quarter valued at about $39,000. CIBC Private Wealth Group LLC lifted its position in Onto Innovation by 109.4% during the fourth quarter. CIBC Private Wealth Group LLC now owns 245 shares of the semiconductor company's stock worth $39,000 after acquiring an additional 128 shares during the last quarter. Finally, Parallel Advisors LLC boosted its holdings in shares of Onto Innovation by 20.6% during the fourth quarter. Parallel Advisors LLC now owns 339 shares of the semiconductor company's stock worth $54,000 after acquiring an additional 58 shares during the period. 98.35% of the stock is owned by institutional investors.

Onto Innovation Company Profile

Onto Innovation NYSE: ONTO is a global supplier of advanced process control and inspection systems for semiconductor and electronics manufacturers. The company's solutions span metrology, inspection, defect review and lithography mask repair, helping customers optimize yield, reduce costs and improve device performance. By integrating high-resolution optical and e-beam tools with sophisticated software analytics, Onto Innovation enables wafer, mask and advanced packaging producers to maintain tight process control across leading-edge nodes and specialty applications.

Key products include high-throughput wafer metrology systems, optical and e-beam defect inspection platforms, mask inspection and repair tools, and data-driven software for yield management and process optimization.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.