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Onto Innovation (ONTO) Sees a More Significant Dip Than Broader Market: Some Facts to Know
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Onto Innovation (ONTO - Free Report) ended the recent trading session at $316.15, demonstrating a -5.9% change from the preceding day's closing price. This move lagged the S&P 500's daily loss of 0.57%. Meanwhile, the Dow experienced a rise of 0.64%, and the technology-dominated Nasdaq saw a decrease of 1.15%.
The maker of semiconductor manufacturing equipment's shares have seen an increase of 31.99% over the last month, surpassing the Computer and Technology sector's gain of 2.85% and the S&P 500's gain of 2.14%.
The investment community will be closely monitoring the performance of Onto Innovation in its forthcoming earnings report. The company is expected to report EPS of $1.69, up 35.2% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $325.27 million, up 28.26% from the year-ago period.
For the full year, the Zacks Consensus Estimates project earnings of $7.11 per share and a revenue of $1.33 billion, demonstrating changes of +43.93% and +32.56%, respectively, from the preceding year.
It is also important to note the recent changes to analyst estimates for Onto Innovation. These revisions typically reflect the latest short-term business trends, which can change frequently. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. 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, 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. Within the past 30 days, our consensus EPS projection has moved 4.04% higher. Onto Innovation currently has a Zacks Rank of #3 (Hold).
Looking at valuation, Onto Innovation is presently trading at a Forward P/E ratio of 47.26. This signifies no noticeable deviation in comparison to the average Forward P/E of 47.26 for its industry.
One should further note that ONTO currently holds a PEG ratio of 1.38. 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 1.38.
The Nanotechnology industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 109, positioning it in the top 45% 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.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
View the Zacks #1 Rank List
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Onto Innovation (ONTO) Sees a More Significant Dip Than Broader Market: Some Facts to Know
Onto Innovation (ONTO - Free Report) ended the recent trading session at $316.15, demonstrating a -5.9% change from the preceding day's closing price. This move lagged the S&P 500's daily loss of 0.57%. Meanwhile, the Dow experienced a rise of 0.64%, and the technology-dominated Nasdaq saw a decrease of 1.15%.
The maker of semiconductor manufacturing equipment's shares have seen an increase of 31.99% over the last month, surpassing the Computer and Technology sector's gain of 2.85% and the S&P 500's gain of 2.14%.
The investment community will be closely monitoring the performance of Onto Innovation in its forthcoming earnings report. The company is expected to report EPS of $1.69, up 35.2% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $325.27 million, up 28.26% from the year-ago period.
For the full year, the Zacks Consensus Estimates project earnings of $7.11 per share and a revenue of $1.33 billion, demonstrating changes of +43.93% and +32.56%, respectively, from the preceding year.
It is also important to note the recent changes to analyst estimates for Onto Innovation. These revisions typically reflect the latest short-term business trends, which can change frequently. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. 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, 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. Within the past 30 days, our consensus EPS projection has moved 4.04% higher. Onto Innovation currently has a Zacks Rank of #3 (Hold).
Looking at valuation, Onto Innovation is presently trading at a Forward P/E ratio of 47.26. This signifies no noticeable deviation in comparison to the average Forward P/E of 47.26 for its industry.
One should further note that ONTO currently holds a PEG ratio of 1.38. 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 1.38.
The Nanotechnology industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 109, positioning it in the top 45% 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.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.