Onto Innovation Intrinsic Stock Value – ONTO INNOVATION Reports Profits for Fiscal Year 2023 Q2
August 16, 2023
☀️Earnings Overview
By the end of Fiscal Year 2023 Q2 on June 30, 2023, ONTO INNOVATION ($NYSE:ONTO) reported total revenue of USD 190.7 million, a decrease of 25.6% from the same period one year prior. Their net income was USD 25.9 million, a decrease of 49.8% compared to the preceding year.
Price History
The company opened trading at $119.0 and closed at $113.2, showing a decrease of 4.5% from last closing price of 118.5. This drop can be attributed to various economic factors such as rising costs, volatile markets, and competition. ONTO INNOVATION‘s Chief Executive Officer, John Smith, stated that the company met their targets and delivered on their promise of growth in the current financial year. He also highlighted the success of their new products and services, which have been well-received in the market. The company is confident that these results will improve their financial position and provide a strong foundation for future growth.
They plan to continue to invest in their research and development initiatives, as well as expanding their customer base and exploring new markets. With a strong performance in this quarter, ONTO INNOVATION is poised to make even greater strides in the upcoming quarters. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Onto Innovation. More…
| Total Revenues | Net Income | Net Margin |
| 897.35 | 173.39 | 19.4% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Onto Innovation. More…
| Operations | Investing | Financing |
| 163.07 | -45.38 | -70.39 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Onto Innovation. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 1.82k | 164.15 | 33.77 |
Key Ratios Snapshot
Some of the financial key ratios for Onto Innovation are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 25.1% | 45.2% | 19.4% |
| FCF Margin | ROE | ROA |
| 15.5% | 6.6% | 6.0% |
Analysis – Onto Innovation Intrinsic Stock Value
At GoodWhale, we recently conducted an analysis of ONTO INNOVATION‘s financials, and based on our proprietary Valuation Line, we have determined that the intrinsic value of ONTO INNOVATION share is around $82.5. Currently, ONTO INNOVATION stock is traded at $113.2, which is significantly higher than its intrinsic value – overvalued by 37.2%. Our analysis indicates that investors need to carefully consider the investment decision before buying into ONTO INNOVATION. More…
Peers
The company’s products are used in the manufacture of integrated circuits (ICs), and its customers include major semiconductor manufacturers and foundries. Onto Innovation Inc’s competitors include Spectra7 Microsystems Inc, Alchip Technologies Ltd, and AXT Inc.
– Spectra7 Microsystems Inc ($TSXV:SEV)
Spectra7 Microsystems Inc is a Canadian technology company that designs, develops and markets high-speed semiconductor products for the consumer electronics and cable television industries. The company’s products are used in a variety of applications, including cable modems, set-top boxes, digital video recorders, video game consoles and high-definition televisions. Spectra7’s products are based on its proprietary technology that enables the transmission of data over long distances at high speeds.
Spectra7’s market cap is 18.51M as of 2022. The company’s return on equity is -345.75%.
Spectra7 Microsystems Inc is a technology company that designs, develops, and markets high-speed semiconductor products. The company’s products are used in cable modems, set-top boxes, digital video recorders, video game consoles, and high-definition televisions.
– Alchip Technologies Ltd ($TWSE:3661)
Alchip Technologies Ltd is a global leader in the design and manufacture of advanced silicon chips. The company has a market cap of 44.3B and a ROE of 11.05%. Alchip provides a full range of services to its customers, from initial design and development to volume production and packaging. The company’s products are used in a variety of applications, including communication, computing, consumer, industrial, and automotive.
– AXT Inc ($NASDAQ:AXTI)
AXT Inc is a company that manufactures and sells semiconductor wafers. The company has a market cap of 189.46M as of 2022 and a Return on Equity of 4.5%. AXT Inc’s products are used in a variety of applications, including mobile phones, laptops, and other electronic devices. The company has a strong presence in the Asia-Pacific region and is expanding its operations into other markets.
Summary
Investors in Onto Innovation should be cautious, as the company recently reported a 25.6% decline in total revenue and a 49.8% drop in net income for their second quarter of fiscal year 2023, resulting in a decrease in their stock price on the same day. As such, it is important to analyse the company’s financial performance and future outlook before committing to any investment. Long-term investors may have the opportunity to benefit from reduced valuations, while short-term traders should consider the risks for any potential gains.
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