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Onto Innovation (ONTO) Surpasses Market Returns: Some Facts Worth Knowing
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Onto Innovation (ONTO - Free Report) closed at $221.17 in the latest trading session, marking a +2.62% move from the prior day. The stock's change was more than the S&P 500's daily gain of 0.44%. Meanwhile, the Dow experienced a rise of 0.36%, and the technology-dominated Nasdaq saw an increase of 0.54%.
The stock of maker of semiconductor manufacturing equipment has risen by 19.92% in the past month, leading the Computer and Technology sector's loss of 2.47% and the S&P 500's loss of 3.31%.
The upcoming earnings release of Onto Innovation will be of great interest to investors. The company is expected to report EPS of $1.32, down 12.58% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $280.67 million, up 5.27% from the year-ago period.
For the full year, the Zacks Consensus Estimates project earnings of $6.41 per share and a revenue of $1.22 billion, demonstrating changes of +29.76% and +21.22%, respectively, from the preceding year.
Investors might also notice recent changes to analyst estimates for Onto Innovation. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the business and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.57% upward. Onto Innovation presently features a Zacks Rank of #2 (Buy).
Investors should also note Onto Innovation's current valuation metrics, including its Forward P/E ratio of 33.65. This represents no noticeable deviation compared to its industry average Forward P/E of 33.65.
Also, we should mention that ONTO has a PEG ratio of 1.12. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. By the end of yesterday's trading, the Nanotechnology industry had an average PEG ratio of 1.12.
The Nanotechnology industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 6, putting it in the top 3% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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Onto Innovation (ONTO) Surpasses Market Returns: Some Facts Worth Knowing
Onto Innovation (ONTO - Free Report) closed at $221.17 in the latest trading session, marking a +2.62% move from the prior day. The stock's change was more than the S&P 500's daily gain of 0.44%. Meanwhile, the Dow experienced a rise of 0.36%, and the technology-dominated Nasdaq saw an increase of 0.54%.
The stock of maker of semiconductor manufacturing equipment has risen by 19.92% in the past month, leading the Computer and Technology sector's loss of 2.47% and the S&P 500's loss of 3.31%.
The upcoming earnings release of Onto Innovation will be of great interest to investors. The company is expected to report EPS of $1.32, down 12.58% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $280.67 million, up 5.27% from the year-ago period.
For the full year, the Zacks Consensus Estimates project earnings of $6.41 per share and a revenue of $1.22 billion, demonstrating changes of +29.76% and +21.22%, respectively, from the preceding year.
Investors might also notice recent changes to analyst estimates for Onto Innovation. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the business and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.57% upward. Onto Innovation presently features a Zacks Rank of #2 (Buy).
Investors should also note Onto Innovation's current valuation metrics, including its Forward P/E ratio of 33.65. This represents no noticeable deviation compared to its industry average Forward P/E of 33.65.
Also, we should mention that ONTO has a PEG ratio of 1.12. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. By the end of yesterday's trading, the Nanotechnology industry had an average PEG ratio of 1.12.
The Nanotechnology industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 6, putting it in the top 3% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.