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Onto Innovation (ONTO) Stock Slides as Market Rises: Facts to Know Before You Trade
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The latest trading session saw Onto Innovation (ONTO - Free Report) ending at $229.17, denoting a -0.05% adjustment from its last day's close. The stock fell short of the S&P 500, which registered a gain of 0.28% for the day. Meanwhile, the Dow gained 0.53%, and the Nasdaq, a tech-heavy index, added 0.4%.
Prior to today's trading, shares of the maker of semiconductor manufacturing equipment had gained 4.48% over the past month. This has outpaced the Computer and Technology sector's gain of 4.22% and the S&P 500's gain of 3.78% in that time.
Investors will be eagerly watching for the performance of Onto Innovation in its upcoming earnings disclosure. The company is expected to report EPS of $1.19, up 50.63% from the prior-year quarter. Simultaneously, our latest consensus estimate expects the revenue to be $235.6 million, showing a 23.57% escalation compared to the year-ago quarter.
For the full year, the Zacks Consensus Estimates project earnings of $5.05 per share and a revenue of $941.16 million, demonstrating changes of +35.39% and +15.36%, respectively, from the preceding year.
Any recent changes to analyst estimates for Onto Innovation should also be noted by investors. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable 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 remained stagnant. Onto Innovation is currently sporting a Zacks Rank of #2 (Buy).
In the context of valuation, Onto Innovation is at present trading with a Forward P/E ratio of 45.4. This denotes a premium relative to the industry's average Forward P/E of 33.9.
The Nanotechnology industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 2, finds itself in the top 1% echelons of all 250+ industries.
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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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Onto Innovation (ONTO) Stock Slides as Market Rises: Facts to Know Before You Trade
The latest trading session saw Onto Innovation (ONTO - Free Report) ending at $229.17, denoting a -0.05% adjustment from its last day's close. The stock fell short of the S&P 500, which registered a gain of 0.28% for the day. Meanwhile, the Dow gained 0.53%, and the Nasdaq, a tech-heavy index, added 0.4%.
Prior to today's trading, shares of the maker of semiconductor manufacturing equipment had gained 4.48% over the past month. This has outpaced the Computer and Technology sector's gain of 4.22% and the S&P 500's gain of 3.78% in that time.
Investors will be eagerly watching for the performance of Onto Innovation in its upcoming earnings disclosure. The company is expected to report EPS of $1.19, up 50.63% from the prior-year quarter. Simultaneously, our latest consensus estimate expects the revenue to be $235.6 million, showing a 23.57% escalation compared to the year-ago quarter.
For the full year, the Zacks Consensus Estimates project earnings of $5.05 per share and a revenue of $941.16 million, demonstrating changes of +35.39% and +15.36%, respectively, from the preceding year.
Any recent changes to analyst estimates for Onto Innovation should also be noted by investors. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable 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 remained stagnant. Onto Innovation is currently sporting a Zacks Rank of #2 (Buy).
In the context of valuation, Onto Innovation is at present trading with a Forward P/E ratio of 45.4. This denotes a premium relative to the industry's average Forward P/E of 33.9.
The Nanotechnology industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 2, finds itself in the top 1% echelons of all 250+ industries.
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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.