Onto Innovation (NYSE:ONTO) Issues Q3 2022 Earnings Guidance – MarketBeat

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Onto Innovation (NYSE:ONTOGet Rating) updated its third quarter 2022 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of $1.21-$1.42 for the period, compared to the consensus estimate of $1.27. The company issued revenue guidance of $242.00 million-$258.00 million, compared to the consensus revenue estimate of $250.40 million.

Onto Innovation Trading Down 2.5 %

ONTO stock traded down $1.71 during midday trading on Tuesday, hitting $65.86. The company had a trading volume of 3,786 shares, compared to its average volume of 262,221. The stock has a market cap of $3.27 billion, a price-to-earnings ratio of 17.92 and a beta of 1.36. The stock’s 50 day moving average price is $75.41 and its 200 day moving average price is $77.32. Onto Innovation has a 52 week low of $59.95 and a 52 week high of $106.09.

Onto Innovation (NYSE:ONTOGet Rating) last announced its quarterly earnings results on Tuesday, August 9th. The semiconductor company reported $1.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.26 by $0.02. The company had revenue of $256.30 million for the quarter, compared to the consensus estimate of $241.80 million. Onto Innovation had a net margin of 20.36% and a return on equity of 16.52%. Onto Innovation’s revenue for the quarter was up 32.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.92 EPS. Analysts predict that Onto Innovation will post 5.27 earnings per share for the current year.

Analyst Upgrades and Downgrades


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Several research analysts have weighed in on ONTO shares. DA Davidson reiterated a buy rating on shares of Onto Innovation in a report on Wednesday, July 27th. B. Riley reduced their price objective on shares of Onto Innovation from $115.00 to $105.00 and set a buy rating for the company in a research report on Wednesday, June 15th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Onto Innovation presently has an average rating of Buy and an average target price of $110.00.

Institutional Investors Weigh In On Onto Innovation

Hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. grew its position in Onto Innovation by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 5,373,380 shares of the semiconductor company’s stock valued at $466,892,000 after purchasing an additional 20,228 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in Onto Innovation by 55.2% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 1,666,438 shares of the semiconductor company’s stock valued at $116,217,000 after acquiring an additional 592,920 shares during the period. State Street Corp raised its holdings in shares of Onto Innovation by 2.3% in the second quarter. State Street Corp now owns 1,625,040 shares of the semiconductor company’s stock valued at $113,330,000 after acquiring an additional 36,101 shares in the last quarter. Robeco Schweiz AG grew its stake in Onto Innovation by 10.2% in the first quarter. Robeco Schweiz AG now owns 1,300,000 shares of the semiconductor company’s stock valued at $112,957,000 after purchasing an additional 120,000 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its stake in shares of Onto Innovation by 6.0% during the first quarter. Goldman Sachs Group Inc. now owns 956,452 shares of the semiconductor company’s stock worth $83,106,000 after acquiring an additional 53,795 shares during the last quarter. Institutional investors own 95.06% of the company’s stock.

About Onto Innovation

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Onto Innovation Inc engages in the design, development, manufacture, and support of process control tools that performs macro defect inspection and 2D/3D optical metrology, lithography systems, and process control analytical software worldwide. It offers process and yield management solutions, 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; and process control software portfolio that includes solutions for standalone tools, groups of tools, and enterprise-or factory-wide suites.

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