Share Repurchase Authorization

6 Months Ended

Jun. 26, 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.  Repurchases may be made through both public market and private transactions from time to time with shares purchased being subsequently retired. At June 26, 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				Six Months Ended
	June 26,		June 27,		June 26,		June 27,
	2021		2020		2021		2020
Shares of common stock repurchased		—		632		—		1,882
Cost of shares repurchased	$	—	$	18,385	$	—	$	52,000
Average price paid per share	$	—	$	29.08	$	—	$	27.62