Welcome to our dedicated page for Onto Innovation news (Ticker: ONTO), a resource for investors and traders seeking the latest updates and insights on Onto Innovation stock.
Onto Innovation Inc. (ONTO) is a leading name in the field of process control, known for its broad portfolio of advanced technologies. The company’s offerings span un-patterned wafer quality, 3D metrology covering chip features from nanometer-scale transistors to large die interconnects, macro defect inspection of wafers and packages, metal interconnect composition, factory analytics, and lithography for advanced semiconductor packaging. These solutions help customers address complex yield, device performance, quality, and reliability issues across the semiconductor value chain.
Headquartered in Wilmington, Massachusetts, Onto Innovation boasts a global sales and service organization, supporting customers worldwide. Traded on the New York Stock Exchange under the symbol ONTO, the company is engaged in designing, developing, manufacturing, and supporting high-performance control metrology, defect inspection, lithography, and data analysis systems. These are crucial for microelectronics device manufacturers, ensuring smarter, faster, and more efficient operations.
The company operates predominantly in the United States, Southeast Asia, China, Japan, and Europe, with Taiwan and South Korea being major sources of revenue. Onto Innovation's commitment to innovation enables it to stay at the forefront of the semiconductor industry, continuously optimizing the critical path of progress for its customers.
Recent achievements include advancements in 3D metrology and significant improvements in defect inspection technologies. The company is currently focused on expanding its technological capabilities and strengthening its market position through strategic partnerships and cutting-edge research and development projects.
Onto Innovation (NYSE: ONTO) reported strong Q3 2024 financial results with revenue of $252 million, driven by recovery in advanced nodes and strength in advanced packaging supporting AI demand. The company achieved GAAP gross margin of 54% and non-GAAP gross margin of 55%. GAAP diluted EPS reached $1.07, while non-GAAP diluted EPS was $1.34. Notable achievements include record quarterly inspection revenue, record revenue from power semiconductor customers, and over 30% sequential growth in advanced nodes customers. The company expects Q4 2024 revenue between $253-267 million with non-GAAP diluted EPS of $1.33-1.48.
Onto Innovation (NYSE: ONTO) has announced two strategic acquisitions: Lumina Instruments and Kulicke and Soffa's lithography business. Lumina's laser scattering technology expands Onto's inspection portfolio, adding a $250 million addressable market in wafer and panel manufacturing. The Kulicke and Soffa acquisition includes 24 patents, 8 pending patents, and extensive lithography expertise. The combined acquisitions are projected to generate up to $100 million in annual revenue within three years and become earnings accretive within 12 months.
Onto Innovation Inc. (NYSE: ONTO) has announced it will release its 2024 third quarter financial results shortly after the market closes on October 31, 2024. The company will host a conference call and audio webcast to discuss these results on the same day at 4:30 p.m. (ET).
To participate in the call, investors can dial (888) 204-4368 (domestic) or +1 (646) 828-8193 (international) and reference conference ID 9129765. A live webcast will also be available on Onto Innovation's website. The call will be hosted by Michael P. Plisinski, CEO, and Mark Slicer, CFO. A replay of the conference call will be available on the company's website for one year.
Onto Innovation Inc. (NYSE: ONTO) has announced the opening of its Packaging Applications Center of Excellence (PACE) in Wilmington, Massachusetts. This first-of-its-kind facility in the U.S. is dedicated to panel-level packaging (PLP) innovations for 2.5D and 3D chiplet architectures and AI packages. PACE brings together industry leaders in substrate manufacturing, process equipment, and materials to accelerate technology roadmaps and shorten time to market.
Key features of PACE include:
- Collaboration with partners like ASMPT, Corning, and Lam Research
- Focus on sub-1.5µm line/space panel interconnects
- Access to Onto's JetStep® X500 glass panel handling lithography system
- Discover® Command Center for data analytics and process controls
The facility aims to address challenges in glass core substrates and support the evolving AI landscape. A grand opening event is scheduled for September 30, 2024.
Onto Innovation Inc. (NYSE: ONTO) has announced its participation in several upcoming investor events throughout August and September 2024. These events include:
- Needham 5th Annual Virtual Semiconductor & SemiCap 1x1 Conference (August 22)
- Evercore ISI 2024 Semiconductor, IT Hardware & Networking Conference (August 27)
- Jefferies Semiconductor, IT Hardware & Communications Technology Conference (August 28)
- Benchmark 2024 Tech, Media & Telecom Conference (September 4)
- Citi 2024 Global TMT Conference (September 5)
- B. Riley Securities Consumer & TMT Conference (September 12)
CEO Michael Plisinski will participate in a fireside chat at the Citi conference on September 5 at 7:30 a.m. ET. The chat will be available via webcast on the company's website, with a replay accessible for one year.
Onto Innovation Inc. (NYSE: ONTO) reported strong Q2 2024 financial results, exceeding guidance with revenue of $242 million. The company saw increased demand for AI packaging and orders for emerging gate-all-around nodes. Key highlights include:
- GAAP gross margin and non-GAAP gross margin of 53%
- GAAP diluted EPS of $1.07 and non-GAAP diluted EPS of $1.32
- Record cash from operations of $65 million (27% of revenue)
- Specialty and advanced packaging revenue set a quarterly record of $164 million
- Closed over $300 million in volume purchase agreements for AI advanced packaging and gate-all-around investments through 2025
The company expects Q3 2024 revenue between $245-$255 million and non-GAAP diluted EPS of $1.25-$1.35.
Onto Innovation (NYSE: ONTO) has announced the addition of Dr. Stephen Schwartz to its board of directors. With over 25 years of leadership experience in high-tech companies, Dr. Schwartz brings valuable expertise to Onto's board. He currently serves as president and CEO of Azenta, Inc., formerly Brooks Automation, and has held leadership positions at Asyst Technologies and Consilium Inc.
Dr. Schwartz's background in semiconductor and life sciences industries, coupled with his experience in automation and robotics, is expected to provide fresh perspectives to Onto Innovation. The company, a strategic partner for leading semiconductor firms, particularly those involved in AI trends, sees this appointment as an opportunity to enhance its position in the semiconductor process control industry.
Onto Innovation (NYSE: ONTO) will announce its second quarter 2024 financial results on August 8, 2024, following market close. The company's CEO, Michael P. Plisinski, and CFO, Mark Slicer, will host a conference call and an audio webcast to discuss the results. The call is scheduled for 4:30 p.m. (ET) and can be accessed by dialing (888) 394-8218 or +1 (646) 828-8193 for international participants using conference ID 7606226. A live webcast will be available on Onto Innovation's website, with a replay accessible for one year.
Onto Innovation has introduced its new glass substrate suite, featuring the JetStep X500 lithography system with hybrid substrate handling capabilities and the Firefly G3 sub-micron automatic metrology and inspection system. These systems support panel-level packaging for AI, high-performance computing, and cloud computing. The AICS market is projected to grow at a 10% CAGR from 2023 to 2028. This growth is driven by the need for more stable substrates like glass, especially as organic substrate redistribution layers face challenges below 3µm. The JetStep X500 offers sub-1.5µm resolution and can expose areas up to 250mm x 250mm. The Firefly G3 system provides precise inspection and metrology for both organic and glass panels, including via measurement and defect inspection. This suite positions Onto for growth in the advanced packaging market.
Onto Innovation (NYSE: ONTO) will exhibit at SEMICON West, July 9-11, 2024, at Booth 633 in the South Hall of Moscone Center.
Onto will showcase its latest integrated process and process control solutions supporting AI product ramp-up, advanced packaging, lithography, and 3D metrology technologies, among others.
These technologies cater to advanced node logic, memory applications, and specialty devices for the automotive market and electric vehicles.
In addition to the exhibit, Onto will host customer and investor meetings, and feature two technical presentations on semiconductor manufacturing and defect classification.
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