The five-grade Zacks Rank system, which ranges from a Zacks Rank #1 (Strong Buy) to a Zacks Rank #5 (Strong Sell), has an impressive externally-audited track record of outperformance, with Zacks #1 Ranked stocks generating an average annual return of +25% since 2008. Onto Innovation (ONTO) appears an attractive pick given a noticeable improvement in the company's earnings outlook. The stock has been a strong performer lately, and the momentum might continue with analysts still raising their earnings estimat ...

Onto Innovation Inc (ONTO) reported first-quarter 2024 earnings of $1.18 per share, which beat the Zacks Consensus Estimate by 7.3%. The bottom line increased 28.3% year over year.Revenues of $228.8 million beat the Zacks Consensus Estimate by 2.9%. The top line increased 14.9% year over year. The uptick can be mainly attributed to customer capacity expansions for high-performance computing and high bandwidth memory supporting AI market growth.Revenues also came in within the company’s guided range of $215- ...

Onto Innovation (ONTO) came out with quarterly earnings of $1.18 per share, beating the Zacks Consensus Estimate of $1.10 per share. This compares to earnings of $0.92 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 7.27%. A quarter ago, it was expected that this maker of semiconductor manufacturing equipment would post earnings of $0.99 per share when it actually produced earnings of $1.06, delivering a surprise of 7.07%.Over ...

Revenue Performance - Revenue for Q1 2024 reached $229 million, driven by customer capacity expansions for high-performance computing (HPC) and high bandwidth memory (HBM) supporting AI market growth[6] - Revenue from specialty and advanced packaging customers set a quarterly record of $161 million[6] - Revenue for the three months ended March 30, 2024, was $228.846 million, a 15% increase from $199.165 million for the same period in 2023[27] Profitability Metrics - GAAP gross margin was 52%, while non-GAAP gross margin also stood at 52%[8] - GAAP operating income was $43 million, with GAAP net income of $47 million, reflecting a significant increase compared to previous quarters[6] - Non-GAAP operating income was $57 million, and non-GAAP net income was $58 million, indicating strong operational performance[6] - Gross profit increased to $118.285 million, compared to $104.975 million in the prior year, resulting in a gross margin of 52%[29] - Operating income rose to $42.738 million, up from $29.035 million, reflecting a significant improvement in operational efficiency[27] - Net income for the period was $46.853 million, compared to $29.068 million in the previous year, marking a 61% increase[27] - Non-GAAP net income was reported at $58.452 million, up from $45.047 million, with non-GAAP net income per diluted share increasing to $1.18 from $0.92[32] Cash Flow and Expenses - Cash from operations amounted to $57 million, representing 25% of total revenue[6] - Operating expenses totaled $75.547 million, slightly down from $75.940 million, indicating effective cost management[30] - The company maintained an operating margin of 25% for both GAAP and non-GAAP measures[30] - Interest income increased significantly to $7.361 million from $3.448 million, reflecting improved financial performance[27] Future Outlook - The company expects Q2 2024 revenue to be in the range of $230 to $240 million, with GAAP diluted earnings per share projected between $0.88 and $1.00[11] - The company anticipates a stronger demand for advanced memory and new chiplet architectures, setting the stage for a robust 2025[5] - Future guidance estimates GAAP net income per diluted share between $0.88 and $1.00 for the next quarter[34] Product Development - Shipments of the Dragonfly® G3 inspection system increased over 30% compared to the prior quarter, highlighting strong demand in AI packaging[6] - New capabilities for the Dragonfly G3 inspection system enable 100% wafer inspection for critical sub-surface defects, enhancing product offerings[6] - The company continues to invest in research and development, with R&D expenses at $26.554 million, slightly down from $27.242 million[27]

ONTO Innovation (ONTO) is set to report first-quarter 2024 results on May 9. The Zacks Consensus Estimate for first-quarter earnings per share (EPS) has been steady at $1.10 over the past 30 days, suggesting an increase of 19.6% from the year-ago quarter’s reported figure. The company expects non-GAAP EPS in the range of $1.00-$1.20. Meanwhile, the consensus mark for revenues is pegged at $222.5 million, indicating a rise of 11.7% from the year-earlier quarter’s reported figure. Management expects revenues ...

Onto Innovation (ONTO) recently introduced cutting-edge sub-surface inspection capability for its Dragonfly G3 2D/3D inspection and metrology platform. This innovative capability allows whole wafer inspection by identifying critical defects that have the potential to affect yield and disrupt subsequent processing stages.As the industry shifts towards thinner and multi-layer wafer structures or “die bonding”, the sub-surface defects are riskier than before due to the reduced thickness of bonded layers. This ...

Onto Innovation (ONTO) could be a solid addition to your portfolio given its recent upgrade to a Zacks Rank #2 (Buy). This upgrade is essentially a reflection of an upward trend in earnings estimates -- one of the most powerful forces impacting stock prices.A company's changing earnings picture is at the core of the Zacks rating. The system tracks the Zacks Consensus Estimate -- the consensus measure of EPS estimates from the sell-side analysts covering the stock -- for the current and following years.Since ...

WILMINGTON, Mass.--(BUSINESS WIRE)--Onto Innovation Inc. (NYSE: ONTO) (“Onto Innovation”, “Onto”, or the “Company”) today announced Susan Lynch has joined its board of directors. With over 30 years of leadership experience in high technology companies, Susan Lynch brings a strong background in financial leadership to Onto Innovation’s board of directors. She recently served as senior vice president and chief financial officer of V2X (formerly Vectrus, Inc.). Prior to V2X, Susan was executive vice preside ...

WILMINGTON, Mass.--(BUSINESS WIRE)--Onto Innovation Inc. (NYSE: ONTO) and its Tucson subsidiary 4D Technology today announced they’ve been named winner of FANUC America’s prestigious 2024 Innovative System of the Year award for the 4Di InSpec automated metrology system (AMS). The system enables automated surface defect and feature metrology for aviation, aerospace and other applications in the industrial manufacturing market. The patented, vibration-immune technology enables the unique capability of using n ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Fiscal Year Ended December 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File No. 001-39110 ONTO INNOVATION INC. (Exact name of registrant as specified in its charter) (State or other jurisdiction of inco ...