Yahoo Finance Onto Innovation (ONTO) Suffers a Larger Drop Than the General Market: Key Insights
The most recent trading session ended with Onto Innovation (ONTO) standing at $219.45, reflecting a -1.85% shift from the previouse trading day's closing. The stock trailed the S&P 500, which registered a daily loss of 0.04%. On the other hand, the Dow registered a loss of 0.15%, and the technology-centric Nasdaq increased by 0.12%.
Prior to today's trading, shares of the maker of semiconductor manufacturing equipment had lost 0.17% over the past month. This has was narrower than the Computer and Technology sector's loss of 2.27% and lagged the S&P 500's gain of 4.15% in that time.
The upcoming earnings release of Onto Innovation will be of great interest to investors. The company is forecasted to report an EPS of $1.19, showcasing a 50.63% upward movement from the corresponding quarter of the prior year. Meanwhile, the latest consensus estimate predicts the revenue to be $235.6 million, indicating a 23.57% increase compared to the same quarter of the previous year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $5.05 per share and revenue of $941.16 million, indicating changes of +35.39% and +15.36%, respectively, compared to the previous year.
Investors should also take note of any recent adjustments 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 company's business health and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.9% higher within the past month. Currently, Onto Innovation is carrying a Zacks Rank of #2 (Buy).
Looking at its valuation, Onto Innovation is holding a Forward P/E ratio of 44.27. This denotes a premium relative to the industry's average Forward P/E of 33.41.
The Nanotechnology industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 97, positioning it in the top 39% of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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Onto Innovation Inc. (ONTO) : Free Stock Analysis Report
