Share Repurchase Authorization

12 Months Ended

Dec. 31, 2022

Share Repurchase Program [Abstract]

Share Repurchase Authorization

16.Share Repurchase Authorization:

In November 2020, the Onto Innovation Board of Directors approved a share repurchase authorization, which allows the Company to repurchase up to $100,000 worth of shares of its common stock. Repurchases may be made through both public market and private transactions from time to time with shares purchased being subsequently retired. During the twelve months ended December 31, 2022, the Company repurchased and retired 1,018 shares of its common stock under this repurchase authorization and those shares were subsequently retired. At December 31, 2022, there was $34,773 available for future share repurchases under this share repurchase authorization.

The following table summarizes the Company’s stock repurchases:

	Year Ended
	December 31, 2022		January 1, 2022		December 26, 2020
Shares of common stock repurchased		1,018		—		1,882
Cost of stock repurchased	$	65,257	$	—	$	52,000
Average price paid per share	$	64.09	$	—	$	27.62