Share Repurchase Authorization

3 Months Ended

Mar. 27, 2021

Share Repurchase Program [Abstract]

Share Repurchase Authorization

NOTE 16. Share Repurchase Authorization

In November 2020, the Onto Innovation Board of Directors approved a new share repurchase authorization, which allows the Company to repurchase up to $100,000 worth of shares of its common stock.  This share repurchase authorization replaced the remaining balance of $28,000 from the prior share repurchase authorization.  Repurchases may be made through both public market and private transactions from time to time with shares purchased being subsequently retired. At March 27, 2021, there was $100,000 available for future share repurchases under this share repurchase authorization.

The following table summarizes the Company’s share repurchases for the periods indicated:

	Three Months Ended
	March 27,		March 28,
	2021		2020
Shares of common stock repurchased		—		1,250
Cost of shares repurchased	$	—	$	33,614
Average price paid per share	$	—	$	26.89