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Onto Innovation (ONTO) Gains But Lags Market: What You Should Know
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Onto Innovation (ONTO - Free Report) closed the most recent trading day at $204.61, moving +0.16% from the previous trading session. This move lagged the S&P 500's daily gain of 0.47%. Elsewhere, the Dow gained 0.79%, while the tech-heavy Nasdaq added 0.28%.
The the stock of maker of semiconductor manufacturing equipment has risen by 6.37% in the past month, leading the Computer and Technology sector's gain of 3.88% and the S&P 500's gain of 3.48%.
The investment community will be closely monitoring the performance of Onto Innovation in its forthcoming earnings report. The company is scheduled to release its earnings on October 31, 2024. In that report, analysts expect Onto Innovation to post earnings of $1.31 per share. This would mark year-over-year growth of 36.46%. Alongside, our most recent consensus estimate is anticipating revenue of $250.54 million, indicating a 20.92% upward movement from the same quarter last year.
For the full year, the Zacks Consensus Estimates project earnings of $5.18 per share and a revenue of $977.85 million, demonstrating changes of +38.87% and +19.85%, respectively, from the preceding year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Onto Innovation. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.08% higher. Right now, Onto Innovation possesses a Zacks Rank of #2 (Buy).
Valuation is also important, so investors should note that Onto Innovation has a Forward P/E ratio of 39.41 right now. This represents no noticeable deviation compared to its industry's average Forward P/E of 39.41.
Also, we should mention that ONTO has a PEG ratio of 1.31. 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 the market closed yesterday, the Nanotechnology industry was having an average PEG ratio of 1.31.
The Nanotechnology industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 3, which puts it in the top 2% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Onto Innovation (ONTO) Gains But Lags Market: What You Should Know
Onto Innovation (ONTO - Free Report) closed the most recent trading day at $204.61, moving +0.16% from the previous trading session. This move lagged the S&P 500's daily gain of 0.47%. Elsewhere, the Dow gained 0.79%, while the tech-heavy Nasdaq added 0.28%.
The the stock of maker of semiconductor manufacturing equipment has risen by 6.37% in the past month, leading the Computer and Technology sector's gain of 3.88% and the S&P 500's gain of 3.48%.
The investment community will be closely monitoring the performance of Onto Innovation in its forthcoming earnings report. The company is scheduled to release its earnings on October 31, 2024. In that report, analysts expect Onto Innovation to post earnings of $1.31 per share. This would mark year-over-year growth of 36.46%. Alongside, our most recent consensus estimate is anticipating revenue of $250.54 million, indicating a 20.92% upward movement from the same quarter last year.
For the full year, the Zacks Consensus Estimates project earnings of $5.18 per share and a revenue of $977.85 million, demonstrating changes of +38.87% and +19.85%, respectively, from the preceding year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Onto Innovation. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.08% higher. Right now, Onto Innovation possesses a Zacks Rank of #2 (Buy).
Valuation is also important, so investors should note that Onto Innovation has a Forward P/E ratio of 39.41 right now. This represents no noticeable deviation compared to its industry's average Forward P/E of 39.41.
Also, we should mention that ONTO has a PEG ratio of 1.31. 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 the market closed yesterday, the Nanotechnology industry was having an average PEG ratio of 1.31.
The Nanotechnology industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 3, which puts it in the top 2% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.