Onto Innovation appoints new CFO

Onto Innovation Inc. (NYSE:ONTO), a leading provider in the measuring and controlling devices sector with a market capitalization of $4.6 billion, announced the appointment of Brian Roberts as its new Chief Financial Officer (CFO), effective today, Monday. According to InvestingPro analysis, the company appears undervalued against its Fair Value, despite maintaining strong financial health with an impressive current ratio of 8.42 and virtually no debt on its balance sheet. Mr. Roberts, 54, brings a wealth of experience from various industries, including his most recent role as CFO of Sensata Technologies Holdings PLC from October 2023 to May 2025.

Before joining Onto Innovation, Roberts led Tarveda Therapeutics as CEO and previously as CFO. His extensive background includes a tenure as CFO at Insulet (NASDAQ:PODD) Corporation from 2009 to 2014 and various leadership roles at Digitas, Inc., culminating in its acquisition in 2007. He joins Onto Innovation at a crucial time, as the company maintains robust profitability with a 53% gross margin and generated over $247 million in free cash flow over the last twelve months. Roberts’ board experience includes serving as Chair of the Audit Committee and Board member for ViewRay, Inc. His career began at Ernst & Young LLP, and he holds a Bachelor of Science in Accounting Finance from Boston College.

In line with his appointment, Onto Innovation entered into an employment agreement with Roberts, which includes an annual base salary of $525,000, a target cash bonus incentive of 80% of his base salary, and a one-time equity grant of restricted stock units valued at $2,200,000. Additionally, Roberts will receive a one-time cash signing bonus of $250,000, subject to clawback provisions. He is also eligible for an annual equity grant in 2026 as part of the company’s 2020 Stock Plan.

Roberts’ employment agreement, effective until September 2, 2026, includes provisions for automatic renewals, severance benefits, and COBRA benefits, subject to certain conditions. For deeper insights into Onto Innovation’s financial health and growth prospects, InvestingPro subscribers can access comprehensive analysis, including 8 additional ProTips and detailed financial metrics that help evaluate executive compensation in context with company performance. The agreement also outlines non-competition and non-solicitation covenants during and after his employment term.

There are no familial relationships between Roberts and any directors or executive officers of Onto Innovation, nor are there any related-person transactions requiring disclosure. The details of Roberts’ employment agreement are included as Exhibit 10.1 in the company’s current SEC filing. With the stock trading at a P/E ratio of 21.4 and analysts projecting earnings growth, investors can access detailed valuation metrics and future growth projections through the comprehensive Pro Research Report available on InvestingPro.

This announcement is based on a press release statement.

In other recent news, Onto Innovation reported first-quarter earnings with an EPS of $1.51, slightly surpassing the consensus estimate of $1.47, alongside record revenue of $267 million, which also narrowly beat the expected $266.94 million. However, the company’s second-quarter guidance fell short, with projected EPS between $1.21-$1.35 and revenue estimates of $240-260 million, below the consensus of $268.5 million. This outlook led to a series of analyst adjustments, with Stifel downgrading Onto Innovation from "Buy" to "Hold" and reducing the price target to $117, while Jefferies also downgraded the stock to "Hold" and lowered its price target to $110. The analysts expressed concerns about the company’s challenges in the AI Packaging (NYSE:PKG) market and the competitive pressures in the Advanced Packaging segment.

Onto Innovation also announced leadership changes, appointing Brian Roberts as the new CFO and Shirley Chen as senior vice president of customer success, effective June 2025. Roberts brings extensive financial experience, previously serving as CFO at Sensata Technologies, while Chen has a robust background in the semiconductor industry with roles at KLA and Thermo-Fisher Scientific. Despite the company’s strong performance in advanced nodes, the ongoing competitive landscape and the anticipated duration of the AI Packaging market correction have prompted a cautious outlook from analysts. These developments reflect the company’s current strategic adjustments and the market’s focus on its future performance amid industry challenges.

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