On September 19, Onto Innovation Inc. rose 5.31% in regular trading, trading at $263.31/share, with turnover of approximately $176 million. The gain came amid a broad rally across the semiconductor equipment sector.
The Semiconductor Equipment sector saw collective strength during the session, with Lam Research up 5.97%, Applied Materials up 5.44%, AXT up 3.82%, KLA Corporation up 3.53%, and ASML Holding up 1.86%. The industry-wide momentum provided a strong tailwind for Onto Innovation Inc.
Underpinning the move, the company reported Q2 adjusted earnings of $1.93 per share, beating the consensus estimate of $1.68 by roughly 15%, while revenue of $343.1 million exceeded the $325.3 million estimate and grew 35% year-over-year. Q3 guidance of $2.18 to $2.38 in adjusted EPS also far surpassed the Street estimate of $1.93. Additionally, the company completed its acquisition of a 27% equity stake in Rigaku for approximately 113.08 billion Japanese yen, strengthening its X-ray metrology capabilities for semiconductor manufacturing applications.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
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