U.S. markets open in 7 hours 33 minutes
  • S&P Futures

    3,975.50
    +9.75 (+0.25%)
     
  • Dow Futures

    33,848.00
    +45.00 (+0.13%)
     
  • Nasdaq Futures

    11,686.25
    +40.75 (+0.35%)
     
  • Russell 2000 Futures

    1,822.40
    +2.70 (+0.15%)
     
  • Crude Oil

    71.90
    +0.44 (+0.62%)
     
  • Gold

    1,806.70
    +5.20 (+0.29%)
     
  • Silver

    23.35
    +0.10 (+0.45%)
     
  • EUR/USD

    1.0578
    +0.0018 (+0.17%)
     
  • 10-Yr Bond

    3.4910
    0.0000 (0.00%)
     
  • Vix

    22.29
    -0.39 (-1.72%)
     
  • GBP/USD

    1.2260
    +0.0023 (+0.19%)
     
  • USD/JPY

    136.0250
    -0.6050 (-0.44%)
     
  • BTC-USD

    17,214.59
    +396.08 (+2.36%)
     
  • CMC Crypto 200

    405.76
    +11.08 (+2.81%)
     
  • FTSE 100

    7,472.17
    -17.02 (-0.23%)
     
  • Nikkei 225

    27,901.01
    +326.58 (+1.18%)
     

Onto Innovation (ONTO) Sets Up Training Center to Aid Clients

Onto Innovation Inc ONTO has announced a new training, demonstration and solutions development center in South Korea’s Gyeonggi-do province to help customers across Asia better understand and leverage the company’s wide range of products to develop advanced manufacturing solutions.

These products include the IMPULSE integrated metrology system, Atlas OCD metrology series, Dragonfly inspection system, Element FTIR metrology and the JetStep lithography system.

Onto Innovation Inc. Price and Consensus

Onto Innovation Inc. Price and Consensus
Onto Innovation Inc. Price and Consensus

Onto Innovation Inc. price-consensus-chart | Onto Innovation Inc. Quote

The center will provide basic to advanced equipment technology training, demonstration and the co-development of on-wafer solutions with course materials and onsite technical experts, where customers can solve their high-value problems, added the company.

In the second half of 2022, the company will also open a facility in Hsinchu, Taiwan. By setting up training, demonstration and solutions development centers across Asia, the company is eyeing to expand its customer base and boost the adoption of its solutions’ portfolio by its existing client base across the region.

Onto Innovation is the leading manufacturer of avant-garde process control tools that perform macro defect inspections and metrology and lithography systems. The company was formed through a merger between Nanometrics Incorporated and Rudolph Technologies on Oct 25, 2019.

The company reported second-quarter 2022 earnings of $1.28 per share, up 39% year over year and beating the Zacks Consensus Estimate by 1.6%.

Revenues of $256.3 million beat the Zacks Consensus Estimate by 6.1%. The top line increased 32.5% year over year. The upside can be attributed to higher demand from several end markets, particularly advanced nodes, specialty devices and advanced packaging. The customer acceptance of the company’s JetStep X500 lithography systems also acted as a tailwind.

In the second quarter of 2022, the company secured 11 pre-orders for 75 DragonflyG3 systems combined with new EB40 modules. The orders will be shipped over the next several quarters.

In June 2022, the company announced the first shipment of Dragonfly G3 system with the new EB40 module to a semiconductor manufacturer. The Dragonfly G3 system with the EB40 module can process twice as many wafers per hour compared to the previous module while allowing manufacturers to identify residue and particulates on the wafer surface more accurately, per company estimates.

Onto Innovation currently carries a Zacks Rank #2 (Buy). Shares of the company have gained 1.1% in the past year against the industry’s decline of 13.4%.

Zacks Investment Research
Zacks Investment Research


Image Source: Zacks Investment Research

Other Stocks to Consider

Some other top-ranked stocks from the broader technology space are Cadence Design Systems CDNS, Badger Meter BMI and Arista Networks ANET. Cadence Design Systems and Arista Networks each sport a Zacks Rank #1 (Strong Buy), whereas Badger Meter carries a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.

The Zacks Consensus Estimate for CDNS 2022 earnings is pegged at $4.11 per share, rising 5.7% in the past 60 days. The long-term earnings growth rate is anticipated to be 17.7%.

Cadence’s earnings beat the Zacks Consensus Estimate in the last four quarters, the average being 9.8%. Shares of CDNS have jumped 8.5% in the past year.

The Zacks Consensus Estimate for BMI’s 2022 earnings is pegged at $2.30 per share, up 6% in the past 60 days.

Badger Meter’s earnings beat the Zacks Consensus Estimate in three of the preceding four quarters, with the average being 12.6%. Shares of BMI have lost 9.3% of their value in the past year.

The Zacks Consensus Estimate for Arista Network’s 2022 earnings is pegged at $4.04 per share, increasing 9.8% in the past 60 days. The long-term earnings growth rate is anticipated to be 18.6%.

Arista Network’s earnings beat the Zacks Consensus Estimate in the last four quarters, the average being 10.1%. Shares of ANET have increased 32.2% in the past year.


Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
 
Badger Meter, Inc. (BMI) : Free Stock Analysis Report
 
Cadence Design Systems, Inc. (CDNS) : Free Stock Analysis Report
 
Arista Networks, Inc. (ANET) : Free Stock Analysis Report
 
Onto Innovation Inc. (ONTO) : Free Stock Analysis Report
 
To read this article on Zacks.com click here.
 
Zacks Investment Research