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Stock Alert: Shares Of Onto Innovation Inc. (ONTO) Hit 52-Week High

Shares of Onto Innovation Inc. (ONTO) recorded a new 52-week high of $38.13 on January 14, and closed Tuesday's trading session at $38.08, up $1.54 or 4.21%.

The company designs, develops, manufactures, and supports process control defect inspection and metrology, advanced packaging lithography, and process control software systems used by microelectronic device manufacturers.

As recently as Jan. 14, the company announced multiple orders for 2D inspection systems to support the ongoing demand for 5G smartphones, which drives advanced packages requiring more precise process control solutions. Onto noted that the orders for 15 systems from two leading providers of advanced packages would be delivered in the first quarter of 2020.

Onto Innovation, on Nov.8, reported Q3 GAAP net income of $6.56 million or $0.21 per share versus $7.19 million or $0.22 per share last year.

Non-GAAP net income was $9.83 million or $0.31 per share compared to $8.50 million or $0.26 per share in the prior year period.

Revenue for the quarter rose to $62.9 million from $60.4 million generated a year ago.

For the fourth quarter...

The company expects GAAP loss of $0.48 - $0.30 per share, non-GAAP earnings of $0.32 - $0.42 per share, and revenue of $117 million, plus or minus 5%, excluding Nanometrics' October revenue of $14 million that preceded the merger in the fourth quarter. Five Wall Street analysts have a consensus earnings estimate of $0.39 per share on revenue of $117.52 million for the quarter.

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