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Onto Innovation (ONTO) Dips More Than Broader Market: What You Should Know
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In the latest trading session, Onto Innovation (ONTO - Free Report) closed at $189.27, marking a -7.33% move from the previous day. This change lagged the S&P 500's 0.4% loss on the day. On the other hand, the Dow registered a gain of 0.11%, and the technology-centric Nasdaq decreased by 0.73%.
Prior to today's trading, shares of the maker of semiconductor manufacturing equipment had lost 5.4% was narrower than the Computer and Technology sector's loss of 8.37% and the S&P 500's loss of 7.34%.
The investment community will be paying close attention to the earnings performance of Onto Innovation in its upcoming release. It is anticipated that the company will report an EPS of $1.32, marking a 12.58% fall compared to the same quarter of the previous year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $280.67 million, up 5.27% from the year-ago period.
For the full year, the Zacks Consensus Estimates are projecting earnings of $6.41 per share and revenue of $1.22 billion, which would represent changes of +29.76% and +21.22%, respectively, from the prior year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Onto Innovation. Such recent modifications usually signify the changing landscape of near-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 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 varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, there's been a 0.57% rise in the Zacks Consensus EPS estimate. Onto Innovation is holding a Zacks Rank of #2 (Buy) right now.
Investors should also note Onto Innovation's current valuation metrics, including its Forward P/E ratio of 31.88. For comparison, its industry has an average Forward P/E of 31.88, which means Onto Innovation is trading at no noticeable deviation to the group.
We can additionally observe that ONTO currently boasts a PEG ratio of 1.06. 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. By the end of yesterday's trading, the Nanotechnology industry had an average PEG ratio of 1.06.
The Nanotechnology industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 6, which puts it in the top 3% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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Onto Innovation (ONTO) Dips More Than Broader Market: What You Should Know
In the latest trading session, Onto Innovation (ONTO - Free Report) closed at $189.27, marking a -7.33% move from the previous day. This change lagged the S&P 500's 0.4% loss on the day. On the other hand, the Dow registered a gain of 0.11%, and the technology-centric Nasdaq decreased by 0.73%.
Prior to today's trading, shares of the maker of semiconductor manufacturing equipment had lost 5.4% was narrower than the Computer and Technology sector's loss of 8.37% and the S&P 500's loss of 7.34%.
The investment community will be paying close attention to the earnings performance of Onto Innovation in its upcoming release. It is anticipated that the company will report an EPS of $1.32, marking a 12.58% fall compared to the same quarter of the previous year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $280.67 million, up 5.27% from the year-ago period.
For the full year, the Zacks Consensus Estimates are projecting earnings of $6.41 per share and revenue of $1.22 billion, which would represent changes of +29.76% and +21.22%, respectively, from the prior year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Onto Innovation. Such recent modifications usually signify the changing landscape of near-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 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 varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, there's been a 0.57% rise in the Zacks Consensus EPS estimate. Onto Innovation is holding a Zacks Rank of #2 (Buy) right now.
Investors should also note Onto Innovation's current valuation metrics, including its Forward P/E ratio of 31.88. For comparison, its industry has an average Forward P/E of 31.88, which means Onto Innovation is trading at no noticeable deviation to the group.
We can additionally observe that ONTO currently boasts a PEG ratio of 1.06. 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. By the end of yesterday's trading, the Nanotechnology industry had an average PEG ratio of 1.06.
The Nanotechnology industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 6, which puts it in the top 3% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.