We use cookies to understand how you use our site and to improve your experience.
This includes personalizing content and advertising.
By pressing "Accept All" or closing out of this banner, you consent to the use of all cookies and similar technologies and the sharing of information they collect with third parties.
You can reject marketing cookies by pressing "Deny Optional," but we still use essential, performance, and functional cookies.
In addition, whether you "Accept All," Deny Optional," click the X or otherwise continue to use the site, you accept our Privacy Policy and Terms of Service, revised from time to time.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Onto Innovation (ONTO) Stock Moves 2.84%: What You Should Know
Read MoreHide Full Article
Onto Innovation (ONTO - Free Report) ended the recent trading session at $283.81, demonstrating a +2.84% change from the preceding day's closing price. At the same time, the Dow lost 0.36%, and the tech-heavy Nasdaq gained 0.45%.
Coming into today, shares of the maker of semiconductor manufacturing equipment had lost 2.45% in the past month. In that same time, the Computer and Technology sector gained 6.18%, while the S&P 500 gained 1.27%.
The investment community will be paying close attention to the earnings performance of Onto Innovation in its upcoming release. The company's earnings per share (EPS) are projected to be $2.27, reflecting a 146.74% increase from the same quarter last year. Meanwhile, our latest consensus estimate is calling for revenue of $390.66 million, up 79.05% from the prior-year quarter.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $8.04 per share and revenue of $1.42 billion. These totals would mark changes of +62.75% and +41.22%, respectively, from last year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Onto Innovation. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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, 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. Over the past month, there's been a 1.98% rise in the Zacks Consensus EPS estimate. Currently, Onto Innovation is carrying a Zacks Rank of #1 (Strong Buy).
Looking at valuation, Onto Innovation is presently trading at a Forward P/E ratio of 34.33. This expresses no noticeable deviation compared to the average Forward P/E of 34.33 of its industry.
Meanwhile, ONTO's PEG ratio is currently 0.9. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The Nanotechnology industry currently had an average PEG ratio of 0.9 as of yesterday's close.
The Nanotechnology industry is part of the Computer and Technology sector. With its current Zacks Industry Rank of 1, this industry ranks in the top 1% of all industries, numbering over 250.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
View the Zacks #1 Rank List
Image: Bigstock
Onto Innovation (ONTO) Stock Moves 2.84%: What You Should Know
Onto Innovation (ONTO - Free Report) ended the recent trading session at $283.81, demonstrating a +2.84% change from the preceding day's closing price. At the same time, the Dow lost 0.36%, and the tech-heavy Nasdaq gained 0.45%.
Coming into today, shares of the maker of semiconductor manufacturing equipment had lost 2.45% in the past month. In that same time, the Computer and Technology sector gained 6.18%, while the S&P 500 gained 1.27%.
The investment community will be paying close attention to the earnings performance of Onto Innovation in its upcoming release. The company's earnings per share (EPS) are projected to be $2.27, reflecting a 146.74% increase from the same quarter last year. Meanwhile, our latest consensus estimate is calling for revenue of $390.66 million, up 79.05% from the prior-year quarter.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $8.04 per share and revenue of $1.42 billion. These totals would mark changes of +62.75% and +41.22%, respectively, from last year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Onto Innovation. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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, 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. Over the past month, there's been a 1.98% rise in the Zacks Consensus EPS estimate. Currently, Onto Innovation is carrying a Zacks Rank of #1 (Strong Buy).
Looking at valuation, Onto Innovation is presently trading at a Forward P/E ratio of 34.33. This expresses no noticeable deviation compared to the average Forward P/E of 34.33 of its industry.
Meanwhile, ONTO's PEG ratio is currently 0.9. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The Nanotechnology industry currently had an average PEG ratio of 0.9 as of yesterday's close.
The Nanotechnology industry is part of the Computer and Technology sector. With its current Zacks Industry Rank of 1, this industry ranks in the top 1% of all industries, numbering over 250.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.