Onto Innovation Inc Stock Price, News & Analysis

Onto Innovation announced the launch of its Dragonfly® G3 inspection platform, tailored for advanced packaging and specialty device manufacturers. Following the delivery of the first unit to an OSAT partner in Q4 2020, orders are set for shipment to a CMOS image sensor manufacturer in Q1 2021. The new platform features improved optical resolution and a redesigned 3D metrology system, enhancing defect detection and measurement throughput. The Dragonfly G3 also incorporates AI-driven software, boosting classification accuracy by 30-50%. This positions Onto Innovation favorably in the competitive semiconductor market.

Onto Innovation Inc. (NYSE: ONTO) has expanded its participation at the 23rd Annual Needham Growth Conference, responding to high demand for one-on-one meetings. The company will webcast its presentation live on January 13, 2021, at 4:15 p.m. EST, featuring CEO Michael Plisinski and CFO Steven Roth. One-on-one meetings will also be scheduled during the conference, which runs from January 11 to 15, 2021. Presentation materials and webcasts will be available on the company’s investor relations page.

Onto Innovation Inc. (NYSE: ONTO) has acquired Inspectrology, LLC, a key player in overlay metrology for the compound semiconductor market, for a price representing 1.4 times Inspectrology's 2020 revenue of approximately $20 million. This acquisition is aimed at creating revenue synergies through expanded market access, particularly in Asia, and enhancing Onto’s existing inspection and software technologies. The compound semiconductor market is projected to grow significantly, with a 25% CAGR expected from 2020 to 2025, driven by demand in sectors like 5G and electric vehicles.

Onto Innovation Inc. (NYSE: ONTO) has announced that CEO Michael Plisinski and CFO Steven Roth will participate in the 23rd Annual Needham Growth Conference, taking place virtually from January 11 to 15, 2021. Their presentation is scheduled for January 14 at 2:00 p.m. EST and will be webcast live. Interested parties can access the presentation materials and archived webcasts on Onto Innovation’s investor relations page. Additionally, management will be available for one-on-one meetings during the conference on the same day.

Onto Innovation Inc. (NYSE: ONTO) has achieved a significant milestone with the first customer acceptance of its Aspect® System, a breakthrough product in metrology for the 3D-NAND device manufacturing sector. This new system will measure high aspect ratio channel holes critical for advanced 3D-NAND devices, enhancing production efficiency. The Aspect System combined with AI-Diffract™ Software offers measurement speeds up to 10 times faster than traditional methods. The company anticipates expanding applications as it integrates this revolutionary technology into production environments.

Onto Innovation (NYSE: ONTO) has authorized a new $100 million share repurchase program, replacing the previous remaining balance of $28 million. This follows the repurchase of approximately 1.9 million shares for $52 million in 2020. The new program allows for repurchases via public and private transactions at the company's discretion, depending on market conditions. As of the end of Q3, Onto Innovation had 49.1 million average diluted shares outstanding, indicating a strategic move to enhance shareholder value through share buybacks.

Onto Innovation Inc. (NYSE: ONTO) will participate in three upcoming virtual investor conferences in November and December 2020. The first is the Benchmark Company Technology Virtual One-on-One Investor Conference on November 12, followed by the DA Davidson Virtual Semicap, Laser and Optical Conference on December 15. Finally, the 12th Annual CEO Summit is scheduled for December 16, with materials available on their events page. Interested investors are encouraged to RSVP early for the CEO Summit due to limited space.

Onto Innovation Inc. reported $126.5 million in revenue for Q3 2020, a 6% decrease from Q2 due mainly to metrology spending timing. Specialty device revenue grew 44%, driven by demand in 5G and high-power computing. Gross margin improved to 54%, and cash increased by $28.3 million. Non-GAAP net income reached $19.6 million, or $0.40 per diluted share. The company projects Q4 revenue between $145-155 million. CEO Michael Plisinski emphasized growth potential in advanced packaging and the successful roll-out of new systems.

Onto Innovation Inc. (NYSE: ONTO) announced it will release its 2020 Q3 financial results on November 2, 2020, after market close. A conference call will follow at 4:30 p.m. ET, hosted by CEO Michael P. Plisinski and CFO Steven R. Roth. Participants can access the call via phone or through a live webcast on the company’s website. A replay will be available from November 2 at 7:30 p.m. ET until November 9, 2020. Onto Innovation specializes in advanced semiconductor technologies including metrology and defect inspection.