On August 6, Onto Innovation Inc. rose 6.07% in after-hours trading, trading at 300.25 USD/share, with turnover of 153.66万美元. The stock had declined over 5% during regular trading as investors repositioned ahead of the earnings release, but rebounded sharply after the company posted its second-quarter results.
Onto Innovation released its Q2 financial report after market close. Market consensus had projected quarterly revenue of $325 million, representing a 28.93% year-over-year increase, with adjusted earnings per share of $1.69, up 33.08% year-over-year. The strong after-hours reversal, fully recovering the intraday loss, indicates the reported results were received positively by investors. Morgan Stanley had previously assigned an Overweight rating with a $371 price target, reflecting optimism around semiconductor equipment demand recovery.
The prior quarter, the company reported revenue of $292 million with a gross margin of 53.63% and adjusted EPS of $1.42.
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