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Onto Innovation (ONTO) Suffers a Larger Drop Than the General Market: Key Insights
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Onto Innovation (ONTO - Free Report) ended the recent trading session at $323.92, demonstrating a -5.9% change from the preceding day's closing price. The stock trailed the S&P 500, which registered a daily loss of 0.05%. Meanwhile, the Dow lost 0.09%, and the Nasdaq, a tech-heavy index, lost 0.24%.
Heading into today, shares of the maker of semiconductor manufacturing equipment had gained 33.01% over the past month, outpacing the Computer and Technology sector's loss of 2.81% and the S&P 500's loss of 1.42%.
Market participants will be closely following the financial results of Onto Innovation in its upcoming release. It is anticipated that the company will report an EPS of $1.68, marking a 34.4% rise compared to the same quarter of the previous year. Meanwhile, the latest consensus estimate predicts the revenue to be $325.6 million, indicating a 28.39% increase compared to the same quarter of the previous year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $7.14 per share and revenue of $1.33 billion, which would represent changes of +44.53% and +32.56%, respectively, from the prior year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Onto Innovation. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, there's been a 1.24% rise in the Zacks Consensus EPS estimate. Onto Innovation is holding a Zacks Rank of #3 (Hold) right now.
From a valuation perspective, Onto Innovation is currently exchanging hands at a Forward P/E ratio of 48.23. This indicates no noticeable deviation in contrast to its industry's Forward P/E of 48.23.
It's also important to note that ONTO currently trades at a PEG ratio of 1.41. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. As of the close of trade yesterday, the Nanotechnology industry held an average PEG ratio of 1.41.
The Nanotechnology industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 107, putting it in the top 44% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
View the Zacks #1 Rank List
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Onto Innovation (ONTO) Suffers a Larger Drop Than the General Market: Key Insights
Onto Innovation (ONTO - Free Report) ended the recent trading session at $323.92, demonstrating a -5.9% change from the preceding day's closing price. The stock trailed the S&P 500, which registered a daily loss of 0.05%. Meanwhile, the Dow lost 0.09%, and the Nasdaq, a tech-heavy index, lost 0.24%.
Heading into today, shares of the maker of semiconductor manufacturing equipment had gained 33.01% over the past month, outpacing the Computer and Technology sector's loss of 2.81% and the S&P 500's loss of 1.42%.
Market participants will be closely following the financial results of Onto Innovation in its upcoming release. It is anticipated that the company will report an EPS of $1.68, marking a 34.4% rise compared to the same quarter of the previous year. Meanwhile, the latest consensus estimate predicts the revenue to be $325.6 million, indicating a 28.39% increase compared to the same quarter of the previous year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $7.14 per share and revenue of $1.33 billion, which would represent changes of +44.53% and +32.56%, respectively, from the prior year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Onto Innovation. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, there's been a 1.24% rise in the Zacks Consensus EPS estimate. Onto Innovation is holding a Zacks Rank of #3 (Hold) right now.
From a valuation perspective, Onto Innovation is currently exchanging hands at a Forward P/E ratio of 48.23. This indicates no noticeable deviation in contrast to its industry's Forward P/E of 48.23.
It's also important to note that ONTO currently trades at a PEG ratio of 1.41. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. As of the close of trade yesterday, the Nanotechnology industry held an average PEG ratio of 1.41.
The Nanotechnology industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 107, putting it in the top 44% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.