Onto Innovation Inc ONTO has announced a new training, demonstration and solutions development center in South Korea’s Gyeonggi-do province to help customers across Asia better understand and leverage the company’s wide range of products to develop advanced manufacturing solutions.
These products include the IMPULSE integrated metrology system, Atlas OCD metrology series, Dragonfly inspection system, Element FTIR metrology and the JetStep lithography system.
Onto Innovation Inc. Price and Consensus
Onto Innovation Inc. price-consensus-chart | Onto Innovation Inc. Quote
The center will provide basic to advanced equipment technology training, demonstration and the co-development of on-wafer solutions with course materials and onsite technical experts, where customers can solve their high-value problems, added the company.
In the second half of 2022, the company will also open a facility in Hsinchu, Taiwan. By setting up training, demonstration and solutions development centers across Asia, the company is eyeing to expand its customer base and boost the adoption of its solutions’ portfolio by its existing client base across the region.
Onto Innovation is the leading manufacturer of avant-garde process control tools that perform macro defect inspections and metrology and lithography systems. The company was formed through a merger between Nanometrics Incorporated and Rudolph Technologies on Oct 25, 2019.
The company reported second-quarter 2022 earnings of $1.28 per share, up 39% year over year and beating the Zacks Consensus Estimate by 1.6%.
Revenues of $256.3 million beat the Zacks Consensus Estimate by 6.1%. The top line increased 32.5% year over year. The upside can be attributed to higher demand from several end markets, particularly advanced nodes, specialty devices and advanced packaging. The customer acceptance of the company’s JetStep X500 lithography systems also acted as a tailwind.
In the second quarter of 2022, the company secured 11 pre-orders for 75 DragonflyG3 systems combined with new EB40 modules. The orders will be shipped over the next several quarters.
In June 2022, the company announced the first shipment of Dragonfly G3 system with the new EB40 module to a semiconductor manufacturer. The Dragonfly G3 system with the EB40 module can process twice as many wafers per hour compared to the previous module while allowing manufacturers to identify residue and particulates on the wafer surface more accurately, per company estimates.
Onto Innovation currently carries a Zacks Rank #2 (Buy). Shares of the company have gained 1.1% in the past year against the industry’s decline of 13.4%.
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