Onto Innovation Inc

ONTO

Equity

ISIN US6833441057 / Valor 50532534

New York Stock Exchange, Inc (2024-09-18)

USD 187.77-2.23%

Onto Innovation Inc
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About company

Onto Innovation Inc, formed through the merger of Nanometrics and Rudolph Technologies, is a global leader in process control solutions for the semiconductor industry. With a rich history dating back to 1975, the company offers a wide range of cutting-edge technologies including unpatterned wafer quality, 3D metrology, defect inspection, metal interconnect composition, factory analytics, and lithography for advanced semiconductor packaging. Headquartered in Wilmington, Massachusetts, Onto Innovation serves customers worldwide with a focus on optimizing critical paths, improving yield, device performance, quality, and reliability. Through their software solutions, the company enables customers to enhance product quality and reliability by understanding how individual processes impact the overall product. With a strong emphasis on innovation and customer support, Onto Innovation continues to drive advancements in the semiconductor industry.

Summarized from source with an LLMView SourceSector: Technology

Revenue Exceeds Guidance

Onto Innovation Inc. reported revenue of $242 million for the second fiscal quarter of 2024, surpassing the high end of their guidance. This increase was driven by additional pilot line expansions for high-performance computing using gate-all-around transistor architecture and high bandwidth memory (HBM) supporting AI market growth.

Strong Margins and Earnings

For the second quarter of 2024, Onto Innovation Inc. achieved a GAAP gross margin and non-GAAP gross margin of 53%. The company reported GAAP operating income of $49 million and GAAP net income of $53 million. Non-GAAP operating income and net income were both $65 million, with GAAP diluted earnings per share at $1.07 and non-GAAP diluted earnings per share at $1.32, both exceeding guidance ranges.

Record Cash from Operations

Onto Innovation Inc. recorded a historic high in cash from operations, amounting to $65 million, which represents 27% of their revenue for the second quarter of 2024. This strong cash flow underscores the company's robust financial health and operational efficiency.

Advanced Packaging Revenue

Revenue from specialty and advanced packaging customers reached a new quarterly record of $164 million, significantly bolstered by AI packaging customers. Onto Innovation Inc. also closed over $300 million in volume purchase agreements with two customers for their AI advanced packaging and gate-all-around investments through 2025.

Positive Outlook for Next Quarter

Looking ahead to the third fiscal quarter ending September 28, 2024, Onto Innovation Inc. expects revenue to be in the range of $245 to $255 million. The company anticipates GAAP diluted earnings per share to be between $0.98 and $1.08, and non-GAAP diluted earnings per share to range from $1.25 to $1.35, indicating continued strong performance.

Summarized from source with an LLMView Source

Key figures

50.2%1Y

144%3Y

487%5Y

Performance

51.1%1Y

49.8%3Y

51.7%5Y

Volatility