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Onto Innovation (ONTO) Outpaces Stock Market Gains: What You Should Know
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Onto Innovation (ONTO - Free Report) ended the recent trading session at $151.73, demonstrating a +2.84% change from the preceding day's closing price. The stock exceeded the S&P 500, which registered a gain of 0.79% for the day. Meanwhile, the Dow experienced a rise of 0.14%, and the technology-dominated Nasdaq saw an increase of 1.38%.
The stock of maker of semiconductor manufacturing equipment has risen by 12.67% in the past month, leading the Computer and Technology sector's loss of 0.85% and the S&P 500's gain of 0.87%.
The investment community will be paying close attention to the earnings performance of Onto Innovation in its upcoming release. On that day, Onto Innovation is projected to report earnings of $1.27 per share, which would represent a year-over-year decline of 15.89%. Meanwhile, our latest consensus estimate is calling for revenue of $266.11 million, up 0.82% from the prior-year quarter.
For the full year, the Zacks Consensus Estimates project earnings of $4.96 per share and a revenue of $1 billion, demonstrating changes of -7.12% and +1.74%, respectively, from the preceding year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Onto Innovation. These revisions help to show the ever-changing nature of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 0.53% higher. As of now, Onto Innovation holds a Zacks Rank of #2 (Buy).
With respect to valuation, Onto Innovation is currently being traded at a Forward P/E ratio of 29.75. This expresses no noticeable deviation compared to the average Forward P/E of 29.75 of its industry.
Meanwhile, ONTO's PEG ratio is currently 0.99. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. As the market closed yesterday, the Nanotechnology industry was having an average PEG ratio of 0.99.
The Nanotechnology industry is part of the Computer and Technology sector. At present, this industry carries a Zacks Industry Rank of 6, placing it within the top 3% of over 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.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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Onto Innovation (ONTO) Outpaces Stock Market Gains: What You Should Know
Onto Innovation (ONTO - Free Report) ended the recent trading session at $151.73, demonstrating a +2.84% change from the preceding day's closing price. The stock exceeded the S&P 500, which registered a gain of 0.79% for the day. Meanwhile, the Dow experienced a rise of 0.14%, and the technology-dominated Nasdaq saw an increase of 1.38%.
The stock of maker of semiconductor manufacturing equipment has risen by 12.67% in the past month, leading the Computer and Technology sector's loss of 0.85% and the S&P 500's gain of 0.87%.
The investment community will be paying close attention to the earnings performance of Onto Innovation in its upcoming release. On that day, Onto Innovation is projected to report earnings of $1.27 per share, which would represent a year-over-year decline of 15.89%. Meanwhile, our latest consensus estimate is calling for revenue of $266.11 million, up 0.82% from the prior-year quarter.
For the full year, the Zacks Consensus Estimates project earnings of $4.96 per share and a revenue of $1 billion, demonstrating changes of -7.12% and +1.74%, respectively, from the preceding year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Onto Innovation. These revisions help to show the ever-changing nature of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 0.53% higher. As of now, Onto Innovation holds a Zacks Rank of #2 (Buy).
With respect to valuation, Onto Innovation is currently being traded at a Forward P/E ratio of 29.75. This expresses no noticeable deviation compared to the average Forward P/E of 29.75 of its industry.
Meanwhile, ONTO's PEG ratio is currently 0.99. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. As the market closed yesterday, the Nanotechnology industry was having an average PEG ratio of 0.99.
The Nanotechnology industry is part of the Computer and Technology sector. At present, this industry carries a Zacks Industry Rank of 6, placing it within the top 3% of over 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.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.