Onto Innovation (NASDAQ:ONTO) Announces Quarterly Earnings Results

Onto Innovation (NASDAQ:ONTO) released its quarterly earnings data on Thursday. The company reported $0.30 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.35 by ($0.05), Briefing.com reports. The business had revenue of $73.10 million for the quarter, compared to analysts’ expectations of $75.40 million. The company’s revenue was down 4.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.47 EPS.

Shares of ONTO stock traded down $0.25 on Friday, hitting $34.82. The stock had a trading volume of 719,100 shares, compared to its average volume of 226,223. Onto Innovation has a 12-month low of $25.52 and a 12-month high of $38.60.

Several analysts have recently commented on ONTO shares. TheStreet upgraded shares of Onto Innovation from a “c+” rating to a “b-” rating in a report on Monday, October 28th. Needham & Company LLC started coverage on shares of Onto Innovation in a report on Thursday. They issued a “buy” rating and a $47.00 target price for the company.

About Onto Innovation

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.

Featured Article: What is the return on assets (ROA) ratio?

Earnings History for Onto Innovation (NASDAQ:ONTO)

Receive News & Ratings for Onto Innovation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Onto Innovation and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply