Yahoo Finance Onto Innovation (ONTO) Stock Moves -0.2%: What You Should Know
Onto Innovation (ONTO) closed at $219.56 in the latest trading session, marking a -0.2% move from the prior day. The stock exceeded the S&P 500, which registered a loss of 0.41% for the day. On the other hand, the Dow registered a loss of 0.12%, and the technology-centric Nasdaq decreased by 0.71%.
Coming into today, shares of the maker of semiconductor manufacturing equipment had lost 1.16% in the past month. In that same time, the Computer and Technology sector gained 6.52%, while the S&P 500 gained 3.53%.
The investment community will be closely monitoring the performance of Onto Innovation in its forthcoming earnings report. The company's upcoming EPS is projected at $1.19, signifying a 50.63% increase compared to the same quarter of the previous year. Alongside, our most recent consensus estimate is anticipating revenue of $235.6 million, indicating a 23.57% upward movement from the same quarter last year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $5.05 per share and revenue of $941.16 million, which would represent changes of +35.39% and +15.36%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Onto Innovation. Recent revisions tend to reflect the latest near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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 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, the Zacks Consensus EPS estimate has moved 0.9% higher. Onto Innovation currently has a Zacks Rank of #1 (Strong Buy).
Looking at its valuation, Onto Innovation is holding a Forward P/E ratio of 43.56. Its industry sports an average Forward P/E of 32.98, so one might conclude that Onto Innovation is trading at a premium comparatively.
The Nanotechnology industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 2, positioning it in the top 1% 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.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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Onto Innovation Inc. (ONTO): Free Stock Analysis Report
