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Onto Innovation (ONTO) Stock Moves -12.46%: What You Should Know
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Onto Innovation (ONTO - Free Report) closed at $307.58 in the latest trading session, marking a -12.46% move from the prior day. At the same time, the Dow added 1.14%, and the tech-heavy Nasdaq lost 0.8%.
Heading into today, shares of the maker of semiconductor manufacturing equipment had gained 25.5% over the past month, outpacing the Computer and Technology sector's loss of 5.47% and the S&P 500's loss of 1.43%.
Market participants will be closely following the financial results of Onto Innovation in its upcoming release. In that report, analysts expect Onto Innovation to post earnings of $1.68 per share. This would mark year-over-year growth of 34.4%. In the meantime, our current consensus estimate forecasts the revenue to be $325.6 million, indicating a 28.39% growth compared to the corresponding quarter of the prior year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $7.14 per share and a revenue of $1.33 billion, representing changes of +44.53% and +32.56%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Onto Innovation. These revisions help to show the ever-changing nature of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 1.24% higher. Onto Innovation currently has a Zacks Rank of #3 (Hold).
In the context of valuation, Onto Innovation is at present trading with a Forward P/E ratio of 49.23. This represents no noticeable deviation compared to its industry average Forward P/E of 49.23.
We can also see that ONTO currently has a PEG ratio of 1.43. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. As of the close of trade yesterday, the Nanotechnology industry held an average PEG ratio of 1.43.
The Nanotechnology industry is part of the Computer and Technology sector. With its current Zacks Industry Rank of 108, this industry ranks in the top 44% of all industries, numbering over 250.
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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
View the Zacks #1 Rank List
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Onto Innovation (ONTO) Stock Moves -12.46%: What You Should Know
Onto Innovation (ONTO - Free Report) closed at $307.58 in the latest trading session, marking a -12.46% move from the prior day. At the same time, the Dow added 1.14%, and the tech-heavy Nasdaq lost 0.8%.
Heading into today, shares of the maker of semiconductor manufacturing equipment had gained 25.5% over the past month, outpacing the Computer and Technology sector's loss of 5.47% and the S&P 500's loss of 1.43%.
Market participants will be closely following the financial results of Onto Innovation in its upcoming release. In that report, analysts expect Onto Innovation to post earnings of $1.68 per share. This would mark year-over-year growth of 34.4%. In the meantime, our current consensus estimate forecasts the revenue to be $325.6 million, indicating a 28.39% growth compared to the corresponding quarter of the prior year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $7.14 per share and a revenue of $1.33 billion, representing changes of +44.53% and +32.56%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Onto Innovation. These revisions help to show the ever-changing nature of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 1.24% higher. Onto Innovation currently has a Zacks Rank of #3 (Hold).
In the context of valuation, Onto Innovation is at present trading with a Forward P/E ratio of 49.23. This represents no noticeable deviation compared to its industry average Forward P/E of 49.23.
We can also see that ONTO currently has a PEG ratio of 1.43. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. As of the close of trade yesterday, the Nanotechnology industry held an average PEG ratio of 1.43.
The Nanotechnology industry is part of the Computer and Technology sector. With its current Zacks Industry Rank of 108, this industry ranks in the top 44% of all industries, numbering over 250.
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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.