Share Repurchase Authorization

12 Months Ended

Dec. 30, 2023

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 30, 2023, the Company repurchased and retired 46 shares of its common stock under this repurchase authorization and those shares were subsequently retired. At December 30, 2023, there was $31,577 available for future share repurchases under this share repurchase authorization.

The following table summarizes the Company’s stock repurchases:

	Year Ended
	December 30, 2023		December 31, 2022		January 1, 2022
Shares of common stock repurchased		46		1,018		—
Cost of stock repurchased	$	3,197	$	65,257	$	—
Average price paid per share	$	69.29	$	64.09	$	-