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Onto Innovation (ONTO)

Onto Innovation is a leader in process control, combining global scale with an expanded portfolio of leading-edge technologies that include: Un-patterned wafer quality; 3D metrology spanning chip features from nanometer scale transistors to large die interconnects; macro defect inspection of wafers and packages; elemental layer composition; overlay metrology; factory analytics; and lithography for advanced semiconductor packaging. Its breadth of offerings across the entire semiconductor value chain helps its customers solve their most difficult yield, device performance, quality, and reliability issues. Onto Innovation strives to optimize customers' critical path of progress by making them smarter, faster and more efficient. Headquartered in Wilmington, Massachusetts, Onto Innovation supports customers with a worldwide sales and service organization.

Company profile

Ticker
ONTO
Exchange
CEO
Timothy Stultz
Employees
Incorporated
Location
Fiscal year end
Former names
NANOMETRICS INC
SEC CIK
Subsidiaries
Rudolph Technologies, Inc. • 4D Technology Corporation • Inspectrology LLC • Onto Innovation Japan Co. Ltd. • Onto Innovation (Shanghai) Trading Co., Ltd. • Nanometrics China Company Ltd. • Onto Innovation Germany GmbH • Onto Innovation Hong Kong Limited • Onto Innovation Europe, B.V. • Onto Innovation France S.A.S. ...
IRS number
942276314

ONTO stock data

Analyst ratings and price targets

Last 3 months

Investment data

Data from SEC filings
Securities sold
Number of investors

Calendar

8 Aug 22
20 Aug 22
26 Dec 22
Quarter (USD) Jul 22 Apr 22 Jan 22 Sep 21
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD) Jan 22 Dec 20 Dec 19 Dec 18
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
5 Aug 22 Robert Fiordalice Common Stock Sell Dispose S No Yes 89.1 662 58.98K 12,900
31 May 22 Robert Fiordalice Common Stock Payment of exercise Dispose F No No 80.38 452 36.33K 13,316
17 May 22 Mark Slicer Common Stock Grant Acquire A No No 0 12,821 0 12,821
93.8% owned by funds/institutions
13F holders Current Prev Q Change
Total holders 290 304 -4.6%
Opened positions 35 45 -22.2%
Closed positions 49 37 +32.4%
Increased positions 112 108 +3.7%
Reduced positions 98 107 -8.4%
13F shares Current Prev Q Change
Total value 3.25B 4.01B -19.0%
Total shares 46.58M 46.16M +0.9%
Total puts 42.6K 70.7K -39.7%
Total calls 69.5K 115.6K -39.9%
Total put/call ratio 0.6 0.6 +0.2%
Largest owners Shares Value Change
BLK Blackrock 7.88M $549.32M +1.6%
Vanguard 5.45M $380.21M +1.5%
Dimensional Fund Advisors 1.71M $119.48M -5.9%
TROW T. Rowe Price 1.67M $116.22M +55.2%
STT State Street 1.63M $113.33M +2.3%
Paradigm Capital Management 1.24M $86.19M -0.4%
Alliancebernstein 1.18M $82.47M +7.8%
Geneva Capital Management 1.17M $81.85M -1.0%
Fisher Asset Management 1.16M $80.75M -1.8%
Hood River Capital Management 1.14M $79.39M -7.5%
Largest transactions Shares Bought/sold Change
TROW T. Rowe Price 1.67M +592.92K +55.2%
GS Goldman Sachs 538.09K -418.36K -43.7%
BEN Franklin Resources 949.86K +341.52K +56.1%
Parametric Portfolio Associates 0 -231.57K EXIT
MS Morgan Stanley 402.07K +198.03K +97.1%
Voya Investment Management 216.51K -176K -44.8%
Robecosam 1.13M -170K -13.1%
Arrowstreet Capital, Limited Partnership 0 -166.3K EXIT
LGEN Legal & General 0 -145.19K EXIT
Clearbridge Advisors 193.64K +133.91K +224.2%

Financial report summary

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Competition
CanonVeeco InstrumentsKLAFormFactorRudolphCamtekNovaPDF Solutions
Risks
  • Risks Related to the COVID-19 Pandemic
  • The effects of the COVID-19 pandemic have affected our business and could in the future adversely affect our business, results of operations, and financial condition.
  • Risks Related to Our Operations
  • If we do not manage our supply chain effectively, our operating results may be adversely affected, and any increases in material, labor, supplier, logistics and other operating costs, or supply chain delays and shortages, could lower our margins or result in lost sales.
  • Variations in the amount of time it takes for us to sell our systems may cause fluctuations in our operating results, which could cause our stock price to decline.
  • We are subject to order and shipment uncertainties. Our profitability will decline if we fail to accurately forecast customer demand when managing inventory.
  • If we deliver systems with defects, our credibility will be harmed, and the sales and market acceptance of our systems will decrease.
  • Our integrated metrology systems are integrated with systems sold independently by wafer fabrication equipment suppliers, and a decrease in sales by these suppliers, or the development of competing systems by these suppliers, could harm our business.
  • We must attract and retain experienced senior executives and other key personnel with knowledge of semiconductor device manufacturing and inspection, metrology or lithography equipment and related software to help support our future growth, and competition for such personnel in our industry is high.
  • We may outsource select manufacturing activities to third-party service providers, which decreases our control over the performance of these functions and may result in lower quality and functionality of our products.
  • Our ability to fulfill our backlog may have an effect on our long-term ability to procure contracts and fulfill current contracts.
  • Risks Related to Our Customers
  • Our largest customers account for a substantial portion of our revenue, and our revenue and cash flows could decline considerably if one or more of these customers were to purchase significantly fewer of our systems or delay or cancel a large order.
  • Risks Related to Product Development
  • If we are not successful in developing new and enhanced products for the semiconductor device manufacturing industry, we will lose sales and market share to our competitors.
  • If new products developed by us do not gain general market acceptance, we will be unable to generate revenue and recover our investments.
  • Even if we are able to develop new products that gain market acceptance, sales of these new products could impair our ability to sell existing products.
  • If our relationships with our large customers deteriorate, our product development activities could be adversely affected.
  • Risks Related to Intellectual Property and Data Security
  • We may fail to adequately protect our intellectual property and, therefore, lose our competitive advantage.
  • Protection of our intellectual property rights, or the efforts of third parties to enforce their own intellectual property rights against us, may result in costly and time-consuming litigation, substantial damages, lost product sales and/or the loss of important intellectual property rights.
  • Risks Related to Competition
  • Some of our current and potential competitors have significantly greater resources than we do, and increased competition could impair sales of our products or cause us to reduce our prices.
  • Because of the high cost of switching equipment vendors in our markets, it is sometimes difficult for us to win new customers from our competitors even if our systems are superior to theirs.
  • Risks Related to Our International Operations
  • Changes in tax rates or tax liabilities could affect results.
  • Turmoil or fluctuations in the credit markets and the financial services industry may negatively impact our business, results of operations, financial condition or liquidity, and our factoring arrangements may expose us to additional risks.
  • We are subject to various environmental laws and regulations that could impose substantial costs upon us, and failure to comply with such laws and regulations may harm our business, operating results and financial condition.
  • Customer and investor focus on our environmental, social and governance responsibility practices and policies, and related regulatory requirements, may make our supply chain more complex, and any failure to comply with customer
  • Risks Related to Growth and Acquisitions
  • We may choose to acquire new and complementary businesses, products or technologies instead of developing them ourselves, and we may be unable to complete these acquisitions or may not be able to successfully integrate an acquired business in a cost-effective and non-disruptive manner.
  • If we cannot effectively manage growth, our business may suffer.
  • Cyclicality in the semiconductor device industry has led to substantial decreases in demand for our systems in the past and may, from time to time, continue to do so.
  • Our future rate of growth is highly dependent on the development and growth of the market for microelectronic device inspection, lithography and metrology equipment.
  • Provisions of our charter documents and of Delaware law could discourage potential acquisition proposals and/or delay, deter or prevent a change in control of our company.
  • Our stock price is volatile.
Management Discussion
  • Item 7.Management’s Discussion and Analysis of Financial Condition and Results of Operations.
  • We are a worldwide leader in the design, development, manufacture and support of process control tools that perform macro-defect inspection and metrology, lithography systems, and process control analytical software used by semiconductor and advanced packaging device manufacturers. We deliver comprehensive solutions throughout the semiconductor fabrication process with our families of proprietary products that provide critical yield-enhancing information, enabling microelectronic device manufacturers to drive down costs and time to market of their devices. We provide process and yield management solutions used in both wafer processing facilities, often referred to as “front-end” manufacturing, and in device packaging and test facilities, commonly referred to as “back-end” manufacturing. Our advanced process control software portfolio includes powerful solutions for standalone tools, groups of tools, or factory-wide suites to enhance productivity and achieve significant cost savings.
  • Our principal market is semiconductor capital equipment.  Semiconductors packaged as integrated circuits, or “chips”, are used in consumer electronics, server and enterprise systems, mobile computing (including smart phones and tablets), data storage devices, and embedded automotive and control systems.  Our core focus is the measurement and control of the structure, composition, and geometry of semiconductor devices as they are fabricated on silicon wafers to improve device performance and manufacturing yields.

Content analysis

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Legalese
Litigous
Readability
H.S. sophomore Good
New words: caption, COVID, flash, identification, intent, method, OSAT, persist, retroactive, translation
Removed: absolute, borrowing, experiencing, fact, minimize, tied