We use cookies to understand how you use our site and to improve your experience.
This includes personalizing content and advertising.
By pressing "Accept All" or closing out of this banner, you consent to the use of all cookies and similar technologies and the sharing of information they collect with third parties.
You can reject marketing cookies by pressing "Deny Optional," but we still use essential, performance, and functional cookies.
In addition, whether you "Accept All," Deny Optional," click the X or otherwise continue to use the site, you accept our Privacy Policy and Terms of Service, revised from time to time.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Onto Innovation (ONTO) Suffers a Larger Drop Than the General Market: Key Insights
Read MoreHide Full Article
In the latest close session, Onto Innovation (ONTO - Free Report) was down 1.74% at $184.00. The stock's change was less than the S&P 500's daily loss of 0.34%. At the same time, the Dow lost 0.94%, and the tech-heavy Nasdaq gained 0.16%.
Prior to today's trading, shares of the maker of semiconductor manufacturing equipment had gained 15.16% outpaced the Computer and Technology sector's loss of 1% and the S&P 500's gain of 1.19%.
Investors will be eagerly watching for the performance of Onto Innovation in its upcoming earnings disclosure. The company's earnings per share (EPS) are projected to be $1.27, reflecting a 15.89% decrease from the same quarter last year. Simultaneously, our latest consensus estimate expects the revenue to be $266.11 million, showing a 0.82% escalation compared to the year-ago quarter.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $4.96 per share and a revenue of $1 billion, indicating changes of -7.12% and 0%, respectively, from the former year.
Investors might also notice recent changes to analyst estimates for Onto Innovation. These recent revisions tend to reflect the evolving nature of short-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.
Based on our research, we believe these estimate revisions are directly related to near-term stock moves. 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.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Onto Innovation currently has a Zacks Rank of #1 (Strong Buy).
Looking at valuation, Onto Innovation is presently trading at a Forward P/E ratio of 31.51. This denotes no noticeable deviation relative to the industry average Forward P/E of 31.51.
One should further note that ONTO currently holds a PEG ratio of 1.05. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Nanotechnology was holding an average PEG ratio of 1.05 at yesterday's closing price.
The Nanotechnology industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 1, which puts it in the top 1% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the 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.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Onto Innovation (ONTO) Suffers a Larger Drop Than the General Market: Key Insights
In the latest close session, Onto Innovation (ONTO - Free Report) was down 1.74% at $184.00. The stock's change was less than the S&P 500's daily loss of 0.34%. At the same time, the Dow lost 0.94%, and the tech-heavy Nasdaq gained 0.16%.
Prior to today's trading, shares of the maker of semiconductor manufacturing equipment had gained 15.16% outpaced the Computer and Technology sector's loss of 1% and the S&P 500's gain of 1.19%.
Investors will be eagerly watching for the performance of Onto Innovation in its upcoming earnings disclosure. The company's earnings per share (EPS) are projected to be $1.27, reflecting a 15.89% decrease from the same quarter last year. Simultaneously, our latest consensus estimate expects the revenue to be $266.11 million, showing a 0.82% escalation compared to the year-ago quarter.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $4.96 per share and a revenue of $1 billion, indicating changes of -7.12% and 0%, respectively, from the former year.
Investors might also notice recent changes to analyst estimates for Onto Innovation. These recent revisions tend to reflect the evolving nature of short-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.
Based on our research, we believe these estimate revisions are directly related to near-term stock moves. 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.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Onto Innovation currently has a Zacks Rank of #1 (Strong Buy).
Looking at valuation, Onto Innovation is presently trading at a Forward P/E ratio of 31.51. This denotes no noticeable deviation relative to the industry average Forward P/E of 31.51.
One should further note that ONTO currently holds a PEG ratio of 1.05. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Nanotechnology was holding an average PEG ratio of 1.05 at yesterday's closing price.
The Nanotechnology industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 1, which puts it in the top 1% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the 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.