Onto Innovation (NYSE:ONTO) Issues Q4 Earnings Guidance

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

Analyst Ratings Changes

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

Onto Innovation Price Performance

NYSE ONTO traded down $9.08 during mid-day trading on Thursday, reaching $198.33. The stock had a trading volume of 953,846 shares, compared to its average volume of 562,171. The company has a fifty day moving average price of $203.44 and a 200 day moving average price of $206.67. Onto Innovation has a 1 year low of $108.98 and a 1 year high of $238.93. The stock 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 (NYSE:ONTO) last released its quarterly earnings data on Thursday, August 8th. The semiconductor company reported $1.32 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 company had revenue of $242.33 million for the quarter, compared to analysts’ expectations of $235.43 million. During the same period last year, the firm posted $0.79 earnings per share. Onto Innovation’s revenue was up 27.1% compared to the same quarter last year. As a group, equities research analysts expect that Onto Innovation will post 5.18 earnings per share for the current year.

Insider Transactions at Onto Innovation

In other news, SVP Srinivas Vedula sold 1,275 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $207.24, for a total transaction of $264,231.00. Following the completion of the sale, the senior vice president now owns 16,050 shares of the company’s stock, valued at $3,326,202. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.72% of the company’s stock.

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.