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Onto Innovation (ONTO) Outperforms Broader Market: What You Need to Know
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In the latest close session, Onto Innovation (ONTO - Free Report) was up +2.97% at $139.12. The stock exceeded the S&P 500, which registered a gain of 0.58% for the day.
Heading into today, shares of the maker of semiconductor manufacturing equipment had gained 29.65% over the past month, outpacing the Computer and Technology sector's gain of 6.37% and the S&P 500's gain of 3.68%.
The investment community will be paying close attention to the earnings performance of Onto Innovation in its upcoming release. The company's upcoming EPS is projected at $0.89, signifying a 33.58% drop compared to the same quarter of the previous year. Meanwhile, the latest consensus estimate predicts the revenue to be $218.24 million, indicating a 13.47% decrease compared to the same quarter of the previous year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $4.92 per share and a revenue of $992.52 million, signifying shifts of -7.87% and +0.53%, respectively, from the last year.
Investors should also note any recent changes to analyst estimates for Onto Innovation. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Right now, Onto Innovation possesses a Zacks Rank of #4 (Sell).
In terms of valuation, Onto Innovation is currently trading at a Forward P/E ratio of 27.48. This indicates no noticeable deviation in contrast to its industry's Forward P/E of 27.48.
Meanwhile, ONTO's PEG ratio is currently 0.92. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The Nanotechnology was holding an average PEG ratio of 0.92 at yesterday's closing price.
The Nanotechnology industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 235, positioning it in the bottom 5% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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Onto Innovation (ONTO) Outperforms Broader Market: What You Need to Know
In the latest close session, Onto Innovation (ONTO - Free Report) was up +2.97% at $139.12. The stock exceeded the S&P 500, which registered a gain of 0.58% for the day.
Heading into today, shares of the maker of semiconductor manufacturing equipment had gained 29.65% over the past month, outpacing the Computer and Technology sector's gain of 6.37% and the S&P 500's gain of 3.68%.
The investment community will be paying close attention to the earnings performance of Onto Innovation in its upcoming release. The company's upcoming EPS is projected at $0.89, signifying a 33.58% drop compared to the same quarter of the previous year. Meanwhile, the latest consensus estimate predicts the revenue to be $218.24 million, indicating a 13.47% decrease compared to the same quarter of the previous year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $4.92 per share and a revenue of $992.52 million, signifying shifts of -7.87% and +0.53%, respectively, from the last year.
Investors should also note any recent changes to analyst estimates for Onto Innovation. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Right now, Onto Innovation possesses a Zacks Rank of #4 (Sell).
In terms of valuation, Onto Innovation is currently trading at a Forward P/E ratio of 27.48. This indicates no noticeable deviation in contrast to its industry's Forward P/E of 27.48.
Meanwhile, ONTO's PEG ratio is currently 0.92. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The Nanotechnology was holding an average PEG ratio of 0.92 at yesterday's closing price.
The Nanotechnology industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 235, positioning it in the bottom 5% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.