Movement Alert|Onto Innovation Inc. Rises 6.07% in After-Hours Trading, Q2 Earnings Release Triggers Strong Market Rebound

Market Focus
Aug 07

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.

(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.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Most Discussed

  1. 1
     
     
     
     
  2. 2
     
     
     
     
  3. 3
     
     
     
     
  4. 4
     
     
     
     
  5. 5
     
     
     
     
  6. 6
     
     
     
     
  7. 7
     
     
     
     
  8. 8
     
     
     
     
  9. 9
     
     
     
     
  10. 10