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Onto Innovation (ONTO) has an impressive earnings surprise history and currently possesses the right combination of the two key ingredients for a likely beat in its next quarterly report.
WILMINGTON, Mass.--(BUSINESS WIRE)---- $ONTO--Onto Innovation Inc. (NYSE: ONTO) will release its 2024 third quarter results shortly after the market closes on October 31, 2024. Onto Innovation will host a conference call and audio webcast in connection with its release of the financial results. Michael P. Plisinski, chief executive officer, and Mark Slicer, chief financial officer, will host the call. The call will take place: Thursday, October 31, 2024, at 4:30 p.m. (ET) To participate in the call, plea.
Here is how Onto Innovation (ONTO) and Motorola (MSI) have performed compared to their sector so far this year.
Shares of Onto Innovation Inc (ONTO, Financial) surged 4.38% in mid-day trading on Oct 2. The stock reached an intraday high of $209.42, before settling at $209.35, up from its previous close of $200.57.
ONTO's performance benefits from strong demand for its Dragonfly inspection system.
Onto Innovation is benefiting from the AI semiconductor boom, with high demand for high-bandwidth memory and advanced packaging products. Strong growth is expected in 2024 and 2025, with minimal China revenue compared to competitors, leading to continued share gains. Q2 results show continued sales improvement, with new business signed into 2025 and margins expected to improve, despite concerns over the Intel guidance cut.
Onto Innovation's ONTO shares have been performing well on the trading front, with a gain of 30.3% year to date compared with the S&P 500 composite's and sub-industry's growth of 14.1% and 28.5%, respectively. Solid financial performance has been aiding the stock's trajectory.
Onto Innovation's (ONTO) Q2 performance gains from higher demand for its solutions (especially the Dragonfly platform) amid continued strength in the advanced packaging vertical.
Onto Innovation Inc. (NYSE:ONTO ) Q2 2024 Earnings Call Transcript August 8, 2024 4:30 PM ET Company Participants Sidney Ho - IR Michael Plisinski - CEO Mark Slicer - CFO Conference Call Participants Brian Chin - Stifel Vedvati Shrotre - Evercore David Duley - Steelhead Securities Charles Shi - Needham Mark Miller - The Benchmark Company Blayne Curtis - Jefferies Operator Good day, and welcome to the Onto Innovation Second Quarter Earnings Release Conference Call. Today's conference is being recorded.
Onto Innovation (ONTO) came out with quarterly earnings of $1.32 per share, beating the Zacks Consensus Estimate of $1.19 per share. This compares to earnings of $0.79 per share a year ago.