On August 4, Onto Innovation Inc. rose 6.15% in pre-market trading, trading at 285.0 USD/share, with turnover of 431,300 USD.
On the news front, the company is scheduled to release its Q2 earnings report on August 6 after market close. Market consensus expects 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. Morgan Stanley previously assigned an overweight rating with a target price of $371.
The optimistic earnings outlook coincided with a broad rebound across the semiconductor equipment sector. Applied Materials rose 4.08%, Lam Research gained 4.49%, KLA Corporation advanced 4.12%, and ASML Holding rose 2.53%. The sector-wide momentum helped the stock recover from a 5.05% decline in the prior trading session, during which the broader semiconductor equipment industry had faced selling pressure.
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