Announcement • Aug 12
Onto Innovation Inc. (NYSE:ONTO) completed the acquisition of 27% stake in Rigaku Holdings Corporation (TSE:268A) from Atom Investment, L.P. for approximately $720 million. Onto Innovation Inc. (NYSE:ONTO) signed a letter of intent to acquire 27% stake in Rigaku Holdings Corporation (TSE:268A) from Atom Investment, L.P. for approximately $710 million on April 13, 2026. Onto Innovation Inc. entered into a definitive share purchase agreement 27% stake in Rigaku Holdings Corporation from Atom Investment, L.P. on April 20, 2026. Onto Innovation expects that the investment will be accretive as of December 31, 2026. As of May 19, 2026, Onto Innovation Inc. announced the pricing of its private offering of $1.3 billion aggregate principal amount of 0.00% Convertible Senior Notes due 2031. Onto Innovation intends to use the net proceeds to fund for general corporate purposes, which may include financing the previously announced acquisition of 27% of the issued and outstanding shares of the common stock of Rigaku Holdings Corporation.
The transaction is subject to upon completion of customary procedures including obtaining relevant regulatory approvals, expiration or termination of any waiting period applicable under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, the absence of any law or order issued by any governmental authority preventing or making illegal consummation of the transaction the accuracy of the representations and warranties of, and compliance with covenants by, each of the parties to the Purchase Agreement. The expected completion of the transaction is Second half of 2026.
Greenhill & Co., LLC act as financial advisor,Simpson Thacher & Bartlett LLP and Nishimura & Asahi act as legal advisor for Onto Innovation Inc. Morgan Stanley act as financial advisor,Nagashima Ohno & Tsunematsu and Latham & Watkins LLP act as legal advisor for Atom Investment, L.P, Mori Hamada & Matsumoto LPC act as legal advisor for Rigaku Holdings Corporation. Mitsubishi UFJ Morgan Stanley Securities Co., Ltd. acted as financial advisor to Atom Investments, L.P., an affiliate of The Carlyle Group.
Onto Innovation Inc. (NYSE:ONTO) completed the acquisition of 27% stake in Rigaku Holdings Corporation (TSE:268A) from Atom Investment, L.P. for approximately $720 million on August 10, 2026. Reported Earnings • Aug 07
Second quarter 2026 earnings released: EPS: US$1.22 (vs US$0.69 in 2Q 2025) Second quarter 2026 results: EPS: US$1.22 (up from US$0.69 in 2Q 2025). Revenue: US$343.1m (up 35% from 2Q 2025). Net income: US$60.1m (up 77% from 2Q 2025). Profit margin: 18% (up from 13% in 2Q 2025). Revenue is forecast to grow 19% p.a. on average during the next 3 years, compared to a 15% growth forecast for the Semiconductor industry in Germany. Over the last 3 years on average, earnings per share has fallen by 3% per year but the company’s share price has increased by 35% per year, which means it is well ahead of earnings. Announcement • Aug 07
Onto Innovation Inc. Provides Earnings Guidance for the Third Quarter Ending September 30, 2026 Onto Innovation Inc. provided earnings guidance for the third quarter ending September 30, 2026. For the period, the company expects revenue of $380 million to $400 million, Gross margin of 57.3% to 57.8%, GAAP operating margin of 21.4% to 22.4% and GAAP diluted earnings per share of $1.54 to $1.70. Buy Or Sell Opportunity • Jul 28
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 9.0% to €220. The fair value is estimated to be €277, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 6.2% over the last 3 years. Earnings per share has declined by 3.2%. For the next 3 years, revenue is forecast to grow by 19% per annum. Earnings are also forecast to grow by 32% per annum over the same time period. Announcement • Jul 16
Onto Innovation Inc. to Report Q2, 2026 Results on Aug 06, 2026 Onto Innovation Inc. announced that they will report Q2, 2026 results After-Market on Aug 06, 2026 New Risk • Jul 09
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of German stocks, typically moving 13% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (13% average weekly change). Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (10% net profit margin). Buy Or Sell Opportunity • Jun 02
Now 20% overvalued after recent price rise Over the last 90 days, the stock has risen 33% to €233. The fair value is estimated to be €194, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 6.2% over the last 3 years. Earnings per share has declined by 3.2%. Revenue is forecast to grow by 62% in 2 years. Earnings are forecast to grow by 277% in the next 2 years. Announcement • May 07
Onto Innovation Inc. Provides Earnings Guidance for the Second Quarter Ending June 30, 2026 Onto Innovation Inc. provided earnings guidance for the second quarter ending June 30, 2026. For the second quarter, the Company expects Revenue of $320 million to $330 million, GAAP operating margin of 17.8% to 18.7%, GAAP diluted earnings per share of $1.09 to $1.18. GAAP Operating Income to be $56.9 million to $61.7 million. Announcement • Apr 21
Onto Innovation Inc. (NYSE:ONTO) signed a letter of intent to acquire 27% stake in Rigaku Holdings Corporation (TSE:268A) from Atom Investment, L.P approximately $710 million. Onto Innovation Inc. (NYSE:ONTO) signed a letter of intent to acquire 27% stake in Rigaku Holdings Corporation (TSE:268A) from Atom Investment, L.P. for approximately $710 million on April 13, 2026. Onto Innovation Inc. entered into a definitive share purchase agreement 27% stake in Rigaku Holdings Corporation from Atom Investment, L.P. on April 21, 2026. Onto Innovation expects that the investment will be accretive as of December 31, 2026.
The transaction is subject to upon completion of customary procedures including obtaining relevant regulatory approvals, expiration or termination of any waiting period applicable under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, he absence of any law or order issued by any governmental authority preventing or making illegal consummation of the transaction the accuracy of the representations and warranties of, and compliance with covenants by, each of the parties to the Purchase Agreement. The expected completion of the transaction is Second half of 2026.
Greenhill & Co., LLC act as financial advisor,Simpson Thacher & Bartlett LLP and Nishimura & Asahi act as legal advisor for Onto Innovation Inc. Morgan Stanley act as financial advisor,Nagashima Ohno & Tsunematsu and Latham & Watkins LLP act as legal advisor for Atom Investment, L.P, Mori Hamada & Matsumoto LPC act as legal advisor for Rigaku Holdings Corporation. Announcement • Apr 16
Onto Innovation Inc. to Report Q1, 2026 Results on May 05, 2026 Onto Innovation Inc. announced that they will report Q1, 2026 results After-Market on May 05, 2026 Announcement • Apr 07
Onto Innovation Inc., Annual General Meeting, May 20, 2026 Onto Innovation Inc., Annual General Meeting, May 20, 2026. Location: 16 jonspin road, wilmington, ma 01887, United States Announcement • Mar 17
Onto Innovation Inc Announces Dragonfly G5 Inspection System Launch Onto Innovation Inc. announced the launch of the Dragonfly G5 system, a fundamentally new inspection and metrology platform delivering best-in-class throughput and enhanced sensitivity required to detect defects as small as 150nm and designed to be extensible for the next several generations of process technology inflections across front-end and advanced packaging applications. A manufacturer of high bandwidth memory (HBM) completed evaluation and selected Dragonfly G5 for 2D inspection for HBM4 ramp. Commitments for double-digit orders of both Dragonfly G5 and 3Di technology received, with shipments starting in the second quarter of 2026. Dragonfly G5 and 3Di technology strengthen Onto’s position in advanced packaging which is expected to demonstrate greater than 30% growth in 2026. The Dragonfly G5 system delivered significant advantages in both resolution and throughput across several applications critical to HBM4 yield. The successful evaluations resulted in order commitments for double-digit numbers of Dragonfly G5 systems to support the majority of their 2D inspection needs and a similar number of orders for 3Di technology, displacing the previously established tool of record. Shipments of both the Dragonfly G5 systems and 3Di technology are expected to commence in the second quarter. New features of the Dragonfly G5 system include: A new optical system supporting multiple techniques such as brightfield and darkfield, delivering defect sensitivity down to 150nm at throughputs up to five times faster than the previous generation Dragonfly technology. A new and proprietary higher power multi-mode illumination technology offered specifically for applications where current technologies struggle to separate sub-micron critical defects from surface variation in applications such as CMP and hybrid bonding. A portfolio of powerful new machine learning algorithms including flexible die-to-die detection which delivers enhanced detection sensitivity while significantly reducing recipe setup time which is a key advantage for customers with a large number of inspection steps. The new platform will continue to support all additional proprietary sensors such as Clearfind technology, sub-surface defect inspection, and 3D metrology, providing customers the most flexible and powerful solution for a wide range of current and future process control needs. Announcement • Feb 20
Onto Innovation Inc. Provides Earnings Guidance for the First Fiscal Quarter Ending March 31, 2026 Onto Innovation Inc. provided earnings guidance for the first fiscal quarter ending March 31, 2026. For the first fiscal quarter ending March 31, 2026, the Company expects revenue of $275 million to $285 million, GAAP operating margin of 14.2% to 15.6% and GAAP diluted earnings per share of $0.74 to $0.84. Announcement • Jan 29
Onto Innovation Inc. to Report Q4, 2025 Results on Feb 19, 2026 Onto Innovation Inc. announced that they will report Q4, 2025 results After-Market on Feb 19, 2026 Announcement • Nov 07
Onto Innovation Inc. Provides Earnings Guidance for the Fourth Fiscal Quarter Ending January 3, 2026 Onto Innovation Inc. provided earnings guidance for the fourth fiscal quarter ending January 3, 2026. For the quarter, the company expects revenue of $250 million to $265 million and GAAP diluted earnings per share of $0.85 to $1.00. U.S. GAAP Operating income of $39.8 million - $48.3 million. Announcement • Oct 22
Onto Innovation Inc. to Report Q3, 2025 Results on Nov 06, 2025 Onto Innovation Inc. announced that they will report Q3, 2025 results After-Market on Nov 06, 2025 Announcement • Sep 19
Onto Innovation Inc. to Showcase Next-Generation Metrology and Inspection Technologies Onto Innovation Inc. announced it will be exhibiting at SEMICON West on October 7-9, 2025. Onto Innovation invites customers to booth 1229 in Hall 5, North Building, lower level, to learn about the Company's latest portfolio of integrated process and process control solutions supporting the rapid evolution of AI device manufacturing and other markets. Onto will feature next-generation metrology and inspection technologies, including optical metrology for critical films and unique 3D metrology and inspection capabilities designed to meet the demands of next generation bump technologies for advanced packaging. Onto will showcase metrology solutions for advanced node logic (CPU/GPU) and high-performance memory (HBM, DRAM and NAND) applications, along with technologies enabling specialty device production for GaN and SiC, which are powering innovations in the automotive market and electric vehicles. Onto's product experts will be at the booth to answer specific applications questions. Announcement • Sep 11
Onto Innovation Launches Next Generation Ocd Metrology Platform to Enable Process Control for Advanced Ai Devices Onto Innovation Inc. introduced the Atlas®? G6 optical critical dimension (OCD) metrology system, designed to address the growing complexity of process control in advanced semiconductor nodes. As the industry transitions to second generation gate-all-around (GAA) logic and future vertical gate DRAM architectures to support AI applications, manufacturers face tighter structural dimensions, shrinking by up to 30% per generation. These smaller geometries demand greater precision in controlling individual nanowire measurements in GAA and smaller DRAM cell block sizes for high bandwidth memory (HBM). The Atlas G6 system introduces advanced optical technologies that deliver measurement accuracy and the small spot size needed to support these evolving requirements, enabling robust process control for next generation devices. The Atlas G6 system has already secured multiple production orders from leading logic and memory manufacturers. The Atlas G6 system delivers enhanced signal sensitivity, smaller spot size, and advanced precision for process control in next generation gate-all- around (GAA) logic and high bandwidth memory (HBM) device production. Designed to meet the stringent requirements of AI-driven semiconductor architectures, the Atlas G6 system enables accurate nanowire and DRAM cell block measurements, helping to improve yield, reliability, and performance. The Atlas G6 system deliver enhanced signal to noise performance even with significantly smaller spot sizes, enabling new and critical metrology capabilities for GAA and HBM technologies. For GAA devices, precise control of each individual nanowire is critical to ensure electrical performance required to meet higher transistor speeds and lower power consumption targets of next generation devices. The AtlasG6 system addresses this challenge with enhanced real-time stabilization technologies that improve measurement precision and accuracy. For HBM, smaller DRAM cell block sizes boost bandwidth efficiency, reduce power consumption, and improve latency. The Atlas G6 system's smaller spot size allows for direct on-device measurements in DRAM cell blocks, enabling tighter process windows and ultimately helping to improve yield and long-term reliability. Also, the system introduces an additional data channel, which when combined with Onto's proprietary Ai Diffract™? OCD analysis software and model-guided machine learning algorithms, strengthens recipe robustness and shortens time to solution. Announcement • Aug 08
Onto Innovation Inc. Announces Earnings Outlook for the Third Fiscal Quarter Ending September 27, 2025 Onto Innovation Inc. announced earnings outlook for the third fiscal quarter ending September 27, 2025. For the period, the Company expects Revenue of $210 million to $225 million. GAAP diluted earnings per share of $0.52 to $0.72. Announcement • Jul 21
Onto Innovation Inc. to Report Q2, 2025 Results on Aug 07, 2025 Onto Innovation Inc. announced that they will report Q2, 2025 results After-Market on Aug 07, 2025 Announcement • Jul 13
Onto Innovation Inc. Announces Separation of Mark Slicer as Principal Accounting Officer, Effective July 16, 2025 Onto Innovation Inc. and Mr. Mark Slicer, the Company's Chief Financial Officer, agreed to mutually terminate Mr. Slicer's employment with the Company, effective immediately on June 12, 2025. Mr. Slicer served as the principal financial officer and principal accounting officer of the Company. The separation was not the result of any disagreement with the Company on any matter relating to its operations, policies, or practices. On July 9, 2025, the Company and Mr. Slicer entered into a separation agreement, effective as of July 16, 2025, in connection with Mr. Slicer's separation from service with the Company. Announcement • Jul 01
Onto Innovation Inc. (NYSE:ONTO) entered into an equity purchase agreement to acquire Semilab USA LLC from SEMILAB International Zrt. for approximately $540 million. Onto Innovation Inc. (NYSE:ONTO) entered into an equity purchase agreement to acquire Semilab USA LLC from SEMILAB International Zrt. for approximately $540 million on June 27, 2025. A cash consideration of $475 million and a stock consideration of 706,215 shares of Onto Innovation common stock will be paid by Onto Innovation Inc. As part of consideration, $544.8 million is paid towards common equity of Semilab USA LLC. The purchase price is subject to certain customary purchase price adjustments.
The transaction is subject to U.S. and Hungarian regulatory approvals, completion of Pre-Closing Reorganization of seller parties, the shares of Buyer Common Stock constituting the Stock Consideration shall have been approved for listing on the New York Stock Exchange and subject to antitrust regulations. The expected completion of the transaction is in the second half of 2025. The transaction is expected to be immediately accretive to both gross and operating margins and to increase non-GAAP earnings per share by more than 10% in the first year following closing.
Joseph Conahan, Andrew Alin, Ron Ben-Yehuda, Sophie Staples, Larry Moss, Ashlie Lawton, Sara Razi, Jon Ozner, Krista McManus, Carleigh Rodriguez and Deepa Sarkar of Simpson Thacher & Bartlett LLP acted as legal advisor for Onto Innovation Inc. Reid Haney and Eric Hall of Hill Ward & Henderson acted as legal advisor for SEMILAB International Zrt and Semilab USA. Barclays Capital Inc. acted as financial advisor for Onto Innovation Inc. Rule Garza Howley LLP, Arnell Golden Gregory LLP, and Fish & Richardson P.C. also acted as legal advisor to Semilab USA. Needham & Company, LLC acted as financial advisor for Semilab USA LLC and SEMILAB International Zrt. Announcement • May 09
Onto Innovation Inc. Provides Earnings Guidance for Second Quarter of Fiscal Year 2025 Onto Innovation Inc. provided earnings guidance for second quarter of fiscal year 2025. For the second fiscal quarter ending June 28, 2025, the Company provided the following guidance: Revenue is expected to be in the range of $240 million to $260 million. GAAP diluted earnings per share is expected to be in the range of $0.99 to $1.13. Announcement • Feb 07
Onto Innovation Inc. Provides Earnings Guidance for First Fiscal Quarter Ending March 29, 2025 Onto Innovation Inc. provided earnings guidance for first fiscal quarter ending March 29, 2025. For the quarter, Revenue is expected to be in the range of $260 million to $274 million. GAAP diluted earnings per share is expected to be in the range of $1.14 to $1.28. Announcement • Jan 17
Onto Innovation Inc. to Report Q4, 2024 Results on Feb 06, 2025 Onto Innovation Inc. announced that they will report Q4, 2024 results After-Market on Feb 06, 2025 Announcement • Jan 15
Onto Innovation Inc. Advances Process Control Suite for 3D Interconnect Yields Onto Innovation Inc. announced advances in its product suite for 3D interconnect process control, featuring the new 3Di technology on the Dragonfly G3 system for bump process control in high bandwidth memory (HBM) and advanced logic applications. Additionally, the EchoScan system is introduced for detecting voids as small as 1um in wafer bonding applications, such as advanced hybrid bonding for Cu-Cu interconnects. Initial orders for the 3Di technology include a top HBM manufacturer, a tier one OSAT and a leading manufacturer of bump process equipment. The first EchoScan system will ship in the first quarter, with additional tools planned to ship to customers throughout 2025. Advanced packages with 2.5D and 3D integration schemes are projected to grow at a rate of 19% from 2024 through28, according to TechInsights. Interconnect bump heights in high volume manufacturing (HVM) are decreasing from 12um to 8um, and potentially to 4um. As bump sizes decrease, metrology and inspection become increasingly critical to ensuring high yields. Interconnect density intensifies with the adoption of hybrid bonding for bond pad interconnects, with planar bump heights and the challenge of inline micro void detection at the Cu-Cu bond pad interface. Undetected voids can lead to wafer cracking and open electrical connections, resulting in yield loss. Current technologies are limited to 10um void size sensitivity and require water immersion, which adds the risk of bonded wafer contamination, delamination and lack of void traceability for inline process control. Buy Or Sell Opportunity • Nov 15
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 22% to €150. The fair value is estimated to be €188, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 2.9% over the last 3 years, while earnings per share has been flat. For the next 3 years, revenue is forecast to grow by 15% per annum. Earnings are also forecast to grow by 31% per annum over the same time period. Valuation Update With 7 Day Price Move • Nov 07
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to €162, the stock trades at a forward P/E ratio of 34x. Average forward P/E is 13x in the Semiconductor industry in Germany. Total returns to shareholders of 109% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €183 per share. Announcement • Nov 02
Onto Innovation Inc. Provides Earnings Guidance for the Fourth Fiscal Quarter Ending December 28, 2024 Onto Innovation Inc. provided earnings guidance for the fourth fiscal quarter ending December 28, 2024. For the quarter, Revenue is expected to be in the range of $253 million to $267 million. GAAP diluted earnings per share is expected to be in the range of $1.04 to $1.19. Reported Earnings • Nov 01
Third quarter 2024 earnings released: EPS: US$1.07 (vs US$0.73 in 3Q 2023) Third quarter 2024 results: EPS: US$1.07 (up from US$0.73 in 3Q 2023). Revenue: US$252.2m (up 22% from 3Q 2023). Net income: US$53.1m (up 48% from 3Q 2023). Profit margin: 21% (up from 17% in 3Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 15% p.a. on average during the next 3 years, compared to a 7.7% growth forecast for the Semiconductor industry in Germany. Over the last 3 years on average, earnings per share has increased by 1% per year but the company’s share price has increased by 35% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Nov 01
Onto Innovation Inc. (NYSE:ONTO) acquired Lumina Instruments, Inc. Onto Innovation Inc. (NYSE:ONTO) acquired Lumina Instruments, Inc. on October 31, 2024. In a related transaction, Onto Innovation acquired the lithography business from Kulicke and Soffa Industries, Inc. Combined, the acquisitions are expected to generate up to $100 million in annual revenue in the next three years and be accretive to earnings within 12 months.
Onto Innovation Inc. (NYSE:ONTO) completed the acquisition of Lumina Instruments, Inc. on October 31, 2024. Announcement • Oct 15
Onto Innovation Inc. to Report Q3, 2024 Results on Oct 31, 2024 Onto Innovation Inc. announced that they will report Q3, 2024 results After-Market on Oct 31, 2024 Valuation Update With 7 Day Price Move • Sep 09
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to €160, the stock trades at a forward P/E ratio of 38x. Average forward P/E is 12x in the Semiconductor industry in Germany. Total returns to shareholders of 146% over the past three years. Reported Earnings • Aug 09
Second quarter 2024 earnings released: EPS: US$1.07 (vs US$0.53 in 2Q 2023) Second quarter 2024 results: EPS: US$1.07 (up from US$0.53 in 2Q 2023). Revenue: US$242.3m (up 27% from 2Q 2023). Net income: US$52.9m (up 105% from 2Q 2023). Profit margin: 22% (up from 14% in 2Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 16% p.a. on average during the next 3 years, compared to a 8.6% growth forecast for the Semiconductor industry in Germany. Over the last 3 years on average, earnings per share has increased by 6% per year but the company’s share price has increased by 34% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Aug 06
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to €143, the stock trades at a forward P/E ratio of 40x. Average forward P/E is 14x in the Semiconductor industry in Germany. Total returns to shareholders of 118% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €249 per share. Buy Or Sell Opportunity • Jul 18
Now 20% undervalued Over the last 90 days, the stock has risen 17% to €198. The fair value is estimated to be €248, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 9.4% over the last 3 years. Earnings per share has grown by 15%. For the next 3 years, revenue is forecast to grow by 16% per annum. Earnings are also forecast to grow by 32% per annum over the same time period. Announcement • Jul 17
Onto Innovation Inc. Appoints Stephen Schwartz to Its Board of Directors Onto Innovation Inc. announced Dr. Stephen Schwartz has joined its board of directors. With over 25 years of leadership experience in high technology companies, Dr. Stephen Schwartz brings a strong background in technical leadership to Onto Innovation’s board of directors. He currently serves as president and chief executive officer of Azenta Inc., formerly Brooks Automation Inc., since October 2010. Brooks Automation was a leading provider of manufacturing automation solutions for the semiconductor industry and life sciences. In February 2022, under Dr. Schwartz’s leadership, Brooks Automation separated its business into two different companies, Azenta, which operates in the life sciences market, and Brooks Automation, which operates in the semiconductor industry. In May 2024, he announced his plans to retire from Azenta upon the appointment of his successor. Prior to Brooks Automation, Dr. Schwartz joined Asyst Technologies Inc., in 2001 and served as the president, chief executive officer and chairman from 2002 until 2009. Prior to joining Asyst, Dr. Schwartz served as the president of Consilium Inc., an Applied Materials Inc. company from 1999 to 2001. Dr. Schwartz began his career at Applied Materials. Dr. Schwartz received his B.S., M.S. and Ph.D. in Electrical Engineering from Purdue University and M.B.A. from the University of Chicago. Announcement • Jul 13
Onto Innovation Inc. to Report Q2, 2024 Results on Aug 08, 2024 Onto Innovation Inc. announced that they will report Q2, 2024 results After-Market on Aug 08, 2024 Announcement • Jul 09
Onto Innovation Further Strengthens Company’s Panel Portfolio with New Glass Suite Onto Innovation Inc. announced Onto Innovation’s glass substrate suite featuring the JetStep® X500 panel-level packaging lithography system with hybrid substrate handling capabilities and the Firefly® G3 sub-micron automatic metrology and inspection system for panel-level packaging and advanced IC substrates (AICS). The JetStep X500 and Firefly G3 systems offer customers a complete panel-level packaging solution supporting heterogeneous integration (HI) chiplet packages for AI, high performance compute and cloud computing. The AICS market is expected to increase at a compound annual growth rate of 10% from 2023 to 2028, according to Prismark. The AICS HI roadmap is rapidly approaching several new demarcation points, including the challenges for organic substrate redistribution layers (RDLs) using copper clad laminate (CCL) below 3µm. These challenges are prompting manufacturers to adopt more stable substrates such as glass. The necessity for manufacturers to handle both large glass core panels as well as the existing mature CCL based organic substrates opens new market opportunities for lithography tools capable of handling both substrate types. In addition to evolving lithographic requirements, the production of glass substrates generates several significant process control challenges attributed to cracks and chips and as a result of handling, through glass via (TGV) formation and the Cu plating process. Customers require 3D metrology solutions focused on TGVs, such as the need to measure via-to-via distance and via diameter for top, waist and bottom. Using a combination of different illumination techniques, including Onto’s patented Clearfield® technology, the Firefly G3 system has emerged as a successful inspection tool for organic panels. By applying these same techniques to glass panels, Onto expands upon the Firefly G3 system’s previous success by delivering a uniquely designed inspection solution for bare and patterned glass substrates. Capable of identifying cracks and chips, the Firefly G3 system also can perform TGV metrology for vias, including finding the X and Y displacements of TGVs from their nominal positions in a matter of minutes. The system also can inspect for defects like dimples, which are formed during etching. Using the Firefly G3 system and its unique 3D metrology sensors for dielectric thickness measurements, customers are enabled to achieve proper copper plating height uniformity for RDLs. Announcement • May 11
Onto Innovation Inc. Provides Earnings Guidance for the Second Quarter Ending June 29, 2024 Onto Innovation Inc. provided earnings guidance for the second quarter ending June 29, 2024, the Company is providing the following guidance: Revenue is expected to be in the range of $230 to $240 million. GAAP diluted earnings per share is expected to be in the range of $0.88 to $1.00. Reported Earnings • May 10
First quarter 2024 earnings released: EPS: US$0.95 (vs US$0.60 in 1Q 2023) First quarter 2024 results: EPS: US$0.95 (up from US$0.60 in 1Q 2023). Revenue: US$228.8m (up 15% from 1Q 2023). Net income: US$46.9m (up 61% from 1Q 2023). Profit margin: 21% (up from 15% in 1Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 13% p.a. on average during the next 2 years, compared to a 8.3% growth forecast for the Semiconductor industry in Germany. Over the last 3 years on average, earnings per share has increased by 15% per year but the company’s share price has increased by 60% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Apr 23
Onto Innovation Inc. Debuts Sub-Surface Defect Inspection for Advanced Packaging Onto Innovation Inc. announced the release of a new sub-surface inspection capability for the Dragonfly G3 sub-micron 2D/3D inspection and metrology platform. The new capability enables whole wafer inspection for critical yield impacting defects that can lead to lost die as well as entire wafers breaking in subsequent process steps. Such defects were previously impossible to find in a production environment. In today’s world of wafer thinning and multi-layer wafer or die bonding, sub-surface defects are far more dangerous than ever before as bonded layers are now a tenth of their former thickness and far more brittle and therefore more susceptible to damage pre- or post-bonding. Sub-surface defects that occur during the bonding or thinning process such as micro-cracks can cause not only die yield issues, but wafers can be shattered resulting in the loss of hundreds of die in an instant. Now, Onto Innovation is offering the capability to detect these yield killing defects on the well-established Dragonfly platform at production speeds. By using novel infra-red (IR) technology and specially designed algorithms, the Dragonfly platform provides customers a choice to scan the entire wafer for hidden defects rather than be limited to sampling only selected areas of the wafer. This greatly impacts final yield and cost savings through reduced scrapped wafer/die stacks. New Risk • Apr 21
New minor risk - Insider selling There has been significant insider selling in the company's shares over the past 3 months. Total value of shares sold: €445k This is considered a minor risk. There are several reasons why an insider may be selling, including to cover a tax obligation or pay for some other expense. However, we generally consider it a negative if insiders have been selling, especially if they do so below the current price. It implies that they considered a lower price to be reasonable. This is a weak signal, but if there is a pattern of unexplained selling, it can be a sign the insider believes the company's stock is overpriced. Note: We only include open market transactions and private dispositions of directly owned stock by individuals, not by corporations or trusts. Currently, the following risks have been identified for the company: Minor Risks Profit margins are more than 30% lower than last year (15% net profit margin). Significant insider selling over the past 3 months (€445k sold). Announcement • Apr 10
Onto Innovation Inc. to Report Q1, 2024 Results on May 09, 2024 Onto Innovation Inc. announced that they will report Q1, 2024 results After-Market on May 09, 2024 Announcement • Apr 06
Onto Innovation Inc., Annual General Meeting, May 22, 2024 Onto Innovation Inc., Annual General Meeting, May 22, 2024, at 08:00 Pacific Standard Time. Location: 1550 Buckeye Drive, Milpitas california United States Agenda: To elect the Board's eight nominees for director to serve until the next Annual Meeting and until their successors are duly elected and qualified; to approve, on an advisory (non-binding) basis, the compensation of our named executive officers as disclosed in this proxy statement; to ratify the appointment of Ernst & Young LLP as independent registered public accounting firm for the fiscal year ending December 28, 2024; and to transact such other business as may properly come before the meeting and any adjournment or postponement thereof. Announcement • Mar 19
Onto Innovation Inc. Appoints Susan Lynch to its Board of Directors Onto Innovation Inc. announced Susan Lynch has joined its board of directors. With over 30 years of leadership experience in high technology companies, Susan Lynch brings a strong background in financial leadership to Onto Innovation’s board of directors. She recently served as senior vice president and chief financial officer of V2X (formerly Vectrus Inc.). Prior to V2X, Susan was executive vice president and chief financial officer of Sungard Availability Services, executive vice president and chief financial officer of Hitachi Vantara (formerly Hitachi Data Systems), vice president and chief financial officer of Raytheon Technical Services and assistant corporate controller of Honeywell International. Ms. Lynch has also served on the board of directors of Allegro MicroSystems since 2021. Reported Earnings • Feb 28
Full year 2023 earnings released: EPS: US$2.47 (vs US$4.52 in FY 2022) Full year 2023 results: EPS: US$2.47 (down from US$4.52 in FY 2022). Revenue: US$815.9m (down 19% from FY 2022). Net income: US$121.2m (down 46% from FY 2022). Profit margin: 15% (down from 22% in FY 2022). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 12% p.a. on average during the next 2 years, compared to a 8.2% growth forecast for the Semiconductor industry in Germany. Over the last 3 years on average, earnings per share has increased by 28% per year but the company’s share price has increased by 48% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Feb 11
Full year 2023 earnings released: EPS: US$2.47 (vs US$4.52 in FY 2022) Full year 2023 results: EPS: US$2.47 (down from US$4.52 in FY 2022). Revenue: US$815.9m (down 19% from FY 2022). Net income: US$121.2m (down 46% from FY 2022). Profit margin: 15% (down from 22% in FY 2022). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 12% p.a. on average during the next 2 years, compared to a 8.2% growth forecast for the Semiconductor industry in Germany. Over the last 3 years on average, earnings per share has increased by 28% per year but the company’s share price has increased by 45% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Feb 09
Onto Innovation Inc. Provides Earnings Guidance for the First Quarter Ending March 30, 2024 Onto Innovation Inc. provided earnings guidance for the first quarter ending March 30, 2024. For the quarter, the company expects revenue to be in the range of $215 million to $230 million and GAAP diluted earnings per share is expected to be in the range of $0.74 to $0.94. Valuation Update With 7 Day Price Move • Jan 25
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to €157, the stock trades at a forward P/E ratio of 50x. Average forward P/E is 16x in the Semiconductor industry in Germany. Total returns to shareholders of 240% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €172 per share. Announcement • Jan 16
Onto Innovation Inc. Announces Launch of the New Firefly G3 Inspection and Metrology System for Automated Process Control During High Volume Production of Panel-Level Subsidates Onto Innovation Inc. announced the launch of the new Firefly G3 inspection and metrology system for automated process control during high volume production of panel-level substrates. The Firefly G3 system was shipped to a tier one customer supporting a variety of AI chiplet based panel-level packages with several additional customers expected to take delivery in the first half of 2024. The Firefly G3 system's inspection and metrology capabilities uniquely complement Onto's JetStep family of panel-level lithography systems, using proprietary feed-forward and feedback software, providing high-resolution data to optimize layer-over-layer overlay accuracy throughout all layers on each side of the panel being processed, a unique capability in improving current panel performance and yield. This next-generation Firefly system goes beyond 2D inspection and metrology by supporting additional process control steps through the introduction of 3D metrology sensors. With the new-generation 3D sensors, the system can measure film thicknesses and the height of metal RDL lines. The addition of these sensors allows customers to collect critical data required to mature their process in a shorter amount of time. Announcement • Nov 12
Onto Innovation Inc. Provides Earnings Guidance for the Fourth Quarter Ending December 30, 2023 Onto Innovation Inc. provided earnings guidance For the fourth quarter ending December 30, 2023. The company expects Revenue to be in the range of $200 million to $216 million. GAAP diluted earnings per share is expected to be in the range of $0.58 to $0.78. Reported Earnings • Nov 10
Third quarter 2023 earnings released: EPS: US$0.73 (vs US$1.05 in 3Q 2022) Third quarter 2023 results: EPS: US$0.73 (down from US$1.05 in 3Q 2022). Revenue: US$207.2m (down 19% from 3Q 2022). Net income: US$35.9m (down 31% from 3Q 2022). Profit margin: 17% (down from 21% in 3Q 2022). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 7.8% growth forecast for the Semiconductor industry in Germany. Over the last 3 years on average, earnings per share has increased by 47% per year whereas the company’s share price has increased by 51% per year. Valuation Update With 7 Day Price Move • Oct 20
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to €114, the stock trades at a forward P/E ratio of 36x. Average forward P/E is 14x in the Semiconductor industry in Germany. Total returns to shareholders of 293% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €51.85 per share. Announcement • Oct 11
Onto Innovation Inc. to Report Q3, 2023 Results on Nov 09, 2023 Onto Innovation Inc. announced that they will report Q3, 2023 results After-Market on Nov 09, 2023 Announcement • Aug 11
Onto Innovation Inc. Provides Earnings Guidance for the Third Fiscal Quarter Ending September 30, 2023 Onto Innovation Inc. provided earnings guidance For the third fiscal quarter ending September 30, 2023. For the quarter, the Company is providing the following guidance: Revenue is expected to be $205 million to $225 million and GAAP diluted earnings per share is expected to be in the range of $0.59 to $0.79. Reported Earnings • Aug 11
Second quarter 2023 earnings released: EPS: US$0.53 (vs US$1.04 in 2Q 2022) Second quarter 2023 results: EPS: US$0.53 (down from US$1.04 in 2Q 2022). Revenue: US$190.7m (down 26% from 2Q 2022). Net income: US$25.9m (down 50% from 2Q 2022). Profit margin: 14% (down from 20% in 2Q 2022). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 9.8% p.a. on average during the next 3 years, compared to a 8.0% growth forecast for the Semiconductor industry in Germany. Over the last 3 years on average, earnings per share has increased by 63% per year but the company’s share price has only increased by 54% per year, which means it is significantly lagging earnings growth. Announcement • Jul 07
Onto Innovation Inc. to Report Q2, 2023 Results on Aug 10, 2023 Onto Innovation Inc. announced that they will report Q2, 2023 results at 4:00 PM, US Eastern Standard Time on Aug 10, 2023 Valuation Update With 7 Day Price Move • May 31
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to €102, the stock trades at a forward P/E ratio of 35x. Average forward P/E is 16x in the Semiconductor industry in Germany. Total returns to shareholders of 252% over the past three years. Recent Insider Transactions • May 28
Insider recently sold €463k worth of stock On the 23rd of May, David Miller sold around 5k shares on-market at roughly €92.53 per share. This transaction amounted to 34% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of €603k more than they bought in the last 12 months. Recent Insider Transactions • May 19
Insider recently sold €140k worth of stock On the 16th of May, Ju Jin sold around 2k shares on-market at roughly €87.47 per share. This transaction amounted to 13% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. This was the only on-market transaction from insiders over the last 12 months. Valuation Update With 7 Day Price Move • May 17
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to €90.00, the stock trades at a forward P/E ratio of 32x. Average forward P/E is 15x in the Semiconductor industry in Germany. Total returns to shareholders of 202% over the past three years. Reported Earnings • May 06
First quarter 2023 earnings released: EPS: US$0.60 (vs US$1.08 in 1Q 2022) First quarter 2023 results: EPS: US$0.60 (down from US$1.08 in 1Q 2022). Revenue: US$199.2m (down 18% from 1Q 2022). Net income: US$29.1m (down 46% from 1Q 2022). Profit margin: 15% (down from 22% in 1Q 2022). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 4.5% p.a. on average during the next 2 years, compared to a 9.0% growth forecast for the Semiconductor industry in Germany. Over the last 3 years on average, earnings per share has increased by 79% per year but the company’s share price has only increased by 35% per year, which means it is significantly lagging earnings growth. Announcement • May 06
Onto Innovation Inc. Provides Revenue Guidance for Second Quarter Ending July 1, 2023 Onto Innovation Inc. provided revenue guidance for second quarter ending July 1, 2023. For the quarter, Revenue is expected to be $203 million plus or minus 4%. Reported Earnings • Feb 12
Full year 2022 earnings released: EPS: US$4.52 (vs US$2.89 in FY 2021) Full year 2022 results: EPS: US$4.52 (up from US$2.89 in FY 2021). Revenue: US$1.01b (up 27% from FY 2021). Net income: US$223.3m (up 57% from FY 2021). Profit margin: 22% (up from 18% in FY 2021). The increase in margin was driven by higher revenue. Revenue is expected to decline by 4.7% p.a. on average during the next 2 years, while revenues in the Semiconductor industry in Germany are expected to grow by 8.7%. Over the last 3 years on average, earnings per share has increased by 91% per year but the company’s share price has only increased by 28% per year, which means it is significantly lagging earnings growth. Announcement • Feb 10
Onto Innovation Inc. Provides Earnings Guidance for the First Quarter Ending April 1, 2023 Onto Innovation Inc. provided earnings guidance for the first quarter ending April 1, 2023. For the quarter, the company's revenue is expected to be $200 million plus or minus 3%. GAAP diluted earnings per share is expected to be in the range of $0.54 to $0.69. Announcement • Jan 25
Onto Innovation Inc. Appoints Stephen D. Kelley to its Board of Directors Onto Innovation Inc. announced Stephen D. Kelley has joined its board of directors. With over 30 years of leadership experience within the semiconductor industry, Steve Kelley brings to Onto Innovation’s board of directors a strong background in executive management and first-hand knowledge of Onto’s customer base across the entire value chain. He currently serves as president and chief executive officer of Advanced Energy Industries Inc., which designs and manufactures highly engineered power delivery systems for semiconductor wafer fab equipment and other mission-critical applications. Prior to that, he was president and chief executive officer of Amkor Technology, a leading outsourced semiconductor assembly and test (OSAT) company from 2013 to 2020, which gives him significant knowledge of advanced packaging processes. He has also held executive leadership roles at leading semiconductor manufacturers: Texas Instruments; Philips Semiconductors; and Cree. Announcement • Jan 13
Onto Innovation Inc. to Report Q4, 2022 Results on Feb 09, 2023 Onto Innovation Inc. announced that they will report Q4, 2022 results After-Market on Feb 09, 2023 Reported Earnings • Nov 16
Third quarter 2022 earnings released: EPS: US$1.05 (vs US$0.74 in 3Q 2021) Third quarter 2022 results: EPS: US$1.05 (up from US$0.74 in 3Q 2021). Revenue: US$254.3m (up 27% from 3Q 2021). Net income: US$52.2m (up 43% from 3Q 2021). Profit margin: 21% (up from 18% in 3Q 2021). The increase in margin was driven by higher revenue. Revenue is expected to decline by 12% p.a. on average during the next 2 years, while revenues in the Semiconductor industry in Germany are expected to grow by 8.5%. Over the last 3 years on average, earnings per share has increased by 84% per year but the company’s share price has only increased by 37% per year, which means it is significantly lagging earnings growth. Reported Earnings • Oct 28
Third quarter 2022 earnings released: EPS: US$1.05 (vs US$0.74 in 3Q 2021) Third quarter 2022 results: EPS: US$1.05 (up from US$0.74 in 3Q 2021). Revenue: US$254.3m (up 27% from 3Q 2021). Net income: US$52.2m (up 43% from 3Q 2021). Profit margin: 21% (up from 18% in 3Q 2021). The increase in margin was driven by higher revenue. Revenue is expected to decline by 1.6% p.a. on average during the next 2 years, while revenues in the Semiconductor industry in Germany are expected to grow by 8.6%. Announcement • Oct 28
Onto Innovation Inc. Provides Earnings Guidance for the Fourth Quarter Ending December 31, 2022; Provides Revenue Guidance for the Year 2023 Onto Innovation Inc. provided earnings guidance for the fourth quarter ending December 31, 2022. For the fourth quarter, the company’s revenue is expected to be in the range of $244 million to $256 million and GAAP diluted earnings per share is expected to be in the range of $0.97 to $1.12.For the year 2023, the company expects revenue in 2023 to decline 10% to 15%, including the negative impact of about $80 million from new restrictions on equipment sales to China. Valuation Update With 7 Day Price Move • Oct 14
Investor sentiment deteriorated over the past week After last week's 17% share price decline to €60.50, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 13x in the Semiconductor industry in Germany. Total loss to shareholders of 4.0% over the past year. Simply Wall St's valuation model estimates the intrinsic value at €60.97 per share. Announcement • Oct 04
Onto Innovation Inc. to Report Q3, 2022 Results on Oct 27, 2022 Onto Innovation Inc. announced that they will report Q3, 2022 results at 4:00 PM, US Eastern Standard Time on Oct 27, 2022 Valuation Update With 7 Day Price Move • Sep 02
Investor sentiment deteriorated over the past week After last week's 17% share price decline to €67.00, the stock trades at a forward P/E ratio of 14x. Average forward P/E is 13x in the Semiconductor industry in Germany. Total returns to shareholders of 4.7% over the past year. Simply Wall St's valuation model estimates the intrinsic value at €68.36 per share. Reported Earnings • Aug 11
Second quarter 2022 earnings released: EPS: US$1.04 (vs US$0.71 in 2Q 2021) Second quarter 2022 results: EPS: US$1.04 (up from US$0.71 in 2Q 2021). Revenue: US$256.3m (up 33% from 2Q 2021). Net income: US$51.6m (up 47% from 2Q 2021). Profit margin: 20% (up from 18% in 2Q 2021). The increase in margin was driven by higher revenue. Over the next year, revenue is forecast to grow 12%, compared to a 12% growth forecast for the industry in Germany. Announcement • Aug 10
Onto Innovation Inc. Provides Earnings Guidance for the Third Quarter Ending October 1, 2022 Onto Innovation Inc. provided earnings guidance for the third quarter ending October 1, 2022. For the third quarter ending October 1, 2022, Revenue is expected to be in the range of $242 million to $258 million and GAAP diluted earnings per share is expected to be in the range of $0.95 to $1.16. Valuation Update With 7 Day Price Move • Jul 22
Investor sentiment improved over the past week After last week's 16% share price gain to €78.50, the stock trades at a forward P/E ratio of 18x. Average forward P/E is 16x in the Semiconductor industry in Germany. Total returns to shareholders of 40% over the past year. Simply Wall St's valuation model estimates the intrinsic value at €78.55 per share. Announcement • Jul 12
Onto Innovation Announces New Echo™ System Onto Innovation Inc. announced the next evolutionary step of innovative acoustic metrology products. The new Echo™ system further expands the addressable market for in-line characterization of opaque films, which isestimated to be approximately $110 million, by leveraging the principle of picosecond ultrasonics to deliver critical thickness metrology and material characterization for key technology transitions in the leading-edge DRAM and high-stack NAND memory markets. For these advanced architectures, the Echo system provides critical metal film metrology enabling higher memory bandwidth and bit density. In specialty segments, the Echo system provides metal thickness and characterization for a variety of devices, including RF filters for 5G communications, and power devices for the rapidly growing electric vehicle (EV) and high-speed portable charger markets. Onto Innovation’s Echo opaque film acoustic metrology product. Capable of single or multilayer film measurements from 50Å to 35µm, handling 100-300mm wafer sizes. Operating at three times the signal-to-noise ratio (SNR) of existing products, the Echo system supports a wide range of film thicknesses, from very thin 50Å films up to 35µm opaque films and metal layers. Furthermore, the Echo system has materials characterization capabilities that include in-line time domain thermo-reflectance for implant monitoring and thermal conductivity characterization. Announcement • Jul 09
Onto Innovation Inc. to Report Q2, 2022 Results on Aug 09, 2022 Onto Innovation Inc. announced that they will report Q2, 2022 results After-Market on Aug 09, 2022 Buying Opportunity • Jul 08
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 13%. The fair value is estimated to be €75.39, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 42% over the last 3 years. Earnings per share has grown by 54%. Revenue is forecast to grow by 17% in a year. Earnings is forecast to grow by 33% in the next year. Valuation Update With 7 Day Price Move • Jul 05
Investor sentiment deteriorated over the past week After last week's 15% share price decline to €59.00, the stock trades at a forward P/E ratio of 14x. Average forward P/E is 13x in the Semiconductor industry in Germany. Negligible returns to shareholders over past year. Simply Wall St's valuation model estimates the intrinsic value at €80.08 per share. Buying Opportunity • Jun 18
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 17%. The fair value is estimated to be €80.66, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 42% over the last 3 years. Earnings per share has grown by 54%. Revenue is forecast to grow by 17% in a year. Earnings is forecast to grow by 33% in the next year. Announcement • Jun 10
Onto Innovation Inc. Announces Its First Shipment of Dragonfly® G3 System with the New Eb40™ Module Onto Innovation Inc. announced its first shipment of the Company’s Dragonfly® G3 system with the new EB40™ module to a top three semiconductor manufacturer. Together, the system and module offer all-surface wafer inspection to address the yield loss caused by defects on the wafer edge and backside across front-end and back-end processes. All-surface inspection is becoming critical for quality assurance at foundries and IDMs producing advanced packages. The prevalence of edge-handling equipment needed to accommodate thinner wafers can produce chips and cracks that potentially propagate into the die near the wafer’s edge, which becomes a costly loss on a finished wafer. That’s where the 30% greater sensitivity and twice the throughput of the integrated Dragonfly G3 system and EB40 module come in. Onto Innovation’s new EB40 solution provides not only the required sensitivity to identify these defects at high speed but also offers the analytics software, such as Onto’s ADC (automatic defect classification), to determine the defect type, impact and, in some cases, origin. Yole Group estimates AI and HPC architectures will grow by greater than 30% over the next three years. Based on these estimates and the strong positive customer reception have seen in the initial release of the Dragonfly G3 system with the EB40 module, expect this new capability to result in a process control SAM expansion for advanced logic and memory. Wafer fab in-line process control requirements and BEOL final outgoing quality inspection are needed for the development of advanced node architectures in logic as well as emerging memory segments. This new market opportunity is in addition to the advanced packaging market where the combination of the Dragonfly G3 system and EB40 module is adding all-surface inspection to the Dragonfly G3 system’s tool-of-record status at the top manufacturers. The integration of the Dragonfly G3 system with the EB40 module not only introduces backside edge bead-removal metrology, but also offers a significant shift in sensitivity enabled by a new algorithm for defect detection, allowing this powerful duo of tools to exceed on-wafer needs and find backside scratches, color variations and large particles that can cause advanced packaging defects. The Dragonfly G3 system with the EB40 module is capable of doubling the number of wafers per hour offered by previous tools, while allowing manufacturers to detect residue and particles on the wafer surface with superior precision. Volume purchase agreements and orders for the Dragonfly G3 system and EB40 module are part of the Company’s previously stated outlook for 2022. Valuation Update With 7 Day Price Move • Jun 01
Investor sentiment improved over the past week After last week's 16% share price gain to €76.50, the stock trades at a forward P/E ratio of 18x. Average forward P/E is 17x in the Semiconductor industry in Germany. Total returns to shareholders of 32% over the past year. Simply Wall St's valuation model estimates the intrinsic value at €79.20 per share. Reported Earnings • May 05
First quarter 2022 earnings released: EPS: US$1.08 (vs US$0.49 in 1Q 2021) First quarter 2022 results: EPS: US$1.08 (up from US$0.49 in 1Q 2021). Revenue: US$241.4m (up 43% from 1Q 2021). Net income: US$53.3m (up 121% from 1Q 2021). Profit margin: 22% (up from 14% in 1Q 2021). The increase in margin was driven by higher revenue. Over the next year, revenue is forecast to grow 17%, compared to a 15% growth forecast for the industry in Germany.