Onto Innovation (ONTO) Stock

On the most recent trading day, Onto Innovation (ONTO) closed at $216.59, which is an increase of 1.68% compared to the previous day's closing price.

On the most recent trading day, Onto Innovation (ONTO) closed at $216.59, which is an increase of 1.68% compared to its last closing price.

WILMINGTON, Mass.--(BUSINESS WIRE)---- $ONTO--Onto Innovation Inc. (NYSE: ONTO) has revealed that a top DRAM manufacturer has signed a $69 million agreement for a large volume purchase of Onto Innovation's optical metrology products, which include common films, optical critical dimension, and integrated metrology. This deal suggests a growing use of the Iris™ system for measuring common films, as well as a rise in the use of integrated metrology. Deliveries are set to start in the first quarter of 2025.

In the most recent trading session, Onto Innovation (ONTO) finished at $193.56, which is an increase of 0.61% compared to the day before.

Onto Innovation's Specialty Devices & Advanced Packaging division is experiencing significant growth, raising its revenue share from 40% in 2020 to 67% in 2024, with an impressive annual growth rate of 34%. The rising demand for SiC power devices in the electric vehicle market is a key factor in this growth, aided by their advanced metrology and inspection technologies. Additionally, Onto's wide range of products and strategic acquisitions give them a competitive advantage, as major customers like TSMC and Samsung continue to expand their production, ensuring ongoing demand.

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Onto Innovation has experienced revenue growth this year, but it is still behind last year's performance. Although shares have tripled due to excitement around AI, they have decreased since the summer. While the growth, interesting mergers and acquisitions, and recent pullbacks make the company more attractive, the shares may not be appealing just yet.

Onto Innovation Inc. (NYSE:ONTO) will hold its Q3 2024 Earnings Conference Call on October 31, 2024, at 4:30 PM ET. The call will feature company representatives including Sidney Ho from Investor Relations, CEO Michael Plisinski, and CFO Mark Slicer. Various analysts from firms like Stifel and Oppenheimer will also participate in the discussion.

Onto Innovation (ONTO) reported quarterly earnings of $1.34 per share, which is higher than the Zacks Consensus Estimate of $1.31 per share. This is an increase compared to earnings of $0.96 per share from the same period last year.