Onto Innovation (ONTO) came out with quarterly earnings of $1.34 per share, beating the Zacks Consensus Estimate of $1.31 per share. This compares to earnings of $0.96 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 2.29%. A quarter ago, it was expected that this maker of semiconductor manufacturing equipment would post earnings of $1.19 per share when it actually produced earnings of $1.32, delivering a surprise of 10.92%.Ove ...

Financial Performance - Revenue for Q3 2024 reached $252 million, a 21.7% increase from $207.2 million in Q3 2023[2] - Operating income for Q3 2024 was $53 million (GAAP) and $70 million (non-GAAP), compared to $34 million (GAAP) in Q3 2023[2][5] - Net income for Q3 2024 was $53 million (GAAP) and $66 million (non-GAAP), reflecting significant growth from $35.9 million (GAAP) in Q3 2023[2][5] - Revenue for the three months ended September 28, 2024, was $252,210 thousand, representing a 21.7% increase from $207,185 thousand for the same period in 2023[15] - Operating income for the three months ended September 28, 2024, was $53,072 thousand, an increase of 56.1% from $34,006 thousand in the same period last year[15] - Net income for the three months ended September 28, 2024, was $53,051 thousand, compared to $35,886 thousand for the same period in 2023, reflecting a 47.6% increase[15] Earnings and Margins - GAAP gross margin was 54%, while non-GAAP gross margin was 55%, both showing improvement from previous quarters[2] - Gross profit for the three months ended September 28, 2024, was $136,379 thousand, up from $106,852 thousand, resulting in a gross margin of 54% compared to 52% in the prior year[15][16] - The company reported a gross margin as a percentage of revenue of 55% for the three months ended September 28, 2024, compared to 52% for the same period in 2023[16] - Operating margin as a percentage of revenue for the three months ended September 28, 2024, was 21%, up from 16% in the same period last year[17] Earnings Per Share - Diluted earnings per share were $1.07 (GAAP) and $1.34 (non-GAAP), nearing the high end of the guidance range[2][5] - Non-GAAP net income for the three months ended September 28, 2024, was $66,386 thousand, up from $47,613 thousand, with non-GAAP net income per diluted share increasing to $1.34 from $0.96[16][18] - Estimated GAAP net income per diluted share for the fourth quarter of 2024 is projected to be between $1.04 and $1.19[19] Future Outlook - For Q4 2024, the company expects revenue between $253 million and $267 million, with GAAP diluted EPS guidance of $1.04 to $1.19[7] - Non-GAAP diluted EPS for Q4 2024 is projected to be in the range of $1.33 to $1.48[7] Operational Highlights - Record cash from operations amounted to $67 million, representing 27% of total revenue[2] - Revenue from advanced nodes customers grew over 30% sequentially, indicating strong demand in this segment[3] - The Packaging Applications Center of Excellence (PACE) was officially opened to support 2.5D and 3D packaging architectures[3] - Total operating expenses for the three months ended September 28, 2024, were $83,307 thousand, compared to $72,846 thousand in the same period last year, marking a 14.2% increase[15] - The company plans to continue investing in research and development, with R&D expenses for the three months ended September 28, 2024, totaling $28,277 thousand, compared to $26,136 thousand in the prior year[15]

The Computer and Technology group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Onto Innovation (ONTO) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? By taking a look at the stock's year-to-date performance in comparison to its Computer and Technology peers, we might be able to answer that question. Onto Innovation is one of 620 individual stocks i ...

Momentum investing revolves around the idea of following a stock's recent trend in either direction. In the 'long' context, investors will be essentially be "buying high, but hoping to sell even higher." With this methodology, taking advantage of trends in a stock's price is key; once a stock establishes a course, it is more than likely to continue moving that way. The goal is that once a stock heads down a fixed path, it will lead to timely and profitable trades. While many investors like to look for momen ...

Onto Innovation's (ONTO) stock has gained 18.5% in the past six months, outperforming its sub-industry, the Zacks Computer and Technology sector and the S&P 500 composite's growth of 17.4%, 16.5% and 15.9%, respectively. Image Source: Zacks Investment Research Six-Month Price Performance Chart Headquartered in Wilmington, MA, ONTO specializes in the design, development, manufacture and support of metrology and inspection tools, primarily for semiconductor device fabricators, silicon wafer manufacturers and ...

The Computer and Technology group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Is Onto Innovation (ONTO) one of those stocks right now? Let's take a closer look at the stock's year-to-date performance to find out. Onto Innovation is a member of our Computer and Technology group, which includes 621 different companies and currently sits at #4 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 different sector groups. The averag ...

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

In the latest market close, Onto Innovation (ONTO) reached $209.05, with a +1.21% movement compared to the previous day. The stock's change was more than the S&P 500's daily gain of 0.9%. Meanwhile, the Dow gained 0.81%, and the Nasdaq, a tech-heavy index, added 1.22%. Heading into today, shares of the maker of semiconductor manufacturing equipment had gained 10.07% over the past month, outpacing the Computer and Technology sector's gain of 5.76% and the S&P 500's gain of 3.15% in that time. Investors will ...

Onto Innovation (ONTO) closed the latest trading day at $199.91, indicating a -1.56% change from the previous session's end. The stock fell short of the S&P 500, which registered a loss of 0.19% for the day. Elsewhere, the Dow saw an upswing of 0.09%, while the tech-heavy Nasdaq depreciated by 0.36%. Coming into today, shares of the maker of semiconductor manufacturing equipment had lost 2.4% in the past month. In that same time, the Computer and Technology sector lost 0.09%, while the S&P 500 gained 2.06%. ...

Onto Innovation's (ONTO) shares have been performing well on the trading front, with a gain of 48.6% in the past year compared with the S&P 500 composite and sub-industry's growth of 23.5% and 44.1%, respectively. Closing at $192.97 as of yesterday's trading session, ONTO stock is currently trading 19.2% below its 52-week high of $238.93, attained on July 16, 2024. Solid financial performance has been aiding the stock's trajectory. ONTO outpaced estimates in each of the trailing four quarters, with the aver ...