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Onto Innovation (ONTO) Advances While Market Declines: Some Information for Investors
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Onto Innovation (ONTO - Free Report) closed at $204.39 in the latest trading session, marking a +0.74% move from the prior day. The stock's performance was ahead of the S&P 500's daily loss of 0.03%. Elsewhere, the Dow lost 0.61%, while the tech-heavy Nasdaq added 0.56%.
Prior to today's trading, shares of the maker of semiconductor manufacturing equipment had lost 8.89% over the past month. This has lagged the Computer and Technology sector's gain of 1.65% and the S&P 500's gain of 1.39% in that time.
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. The company is predicted to post an EPS of $1.31, indicating a 36.46% growth compared to the equivalent quarter last year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $250.54 million, up 20.92% from the year-ago period.
For the full year, the Zacks Consensus Estimates are projecting earnings of $5.18 per share and revenue of $977.85 million, which would represent changes of +38.87% and +19.85%, respectively, from the prior year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Onto Innovation. Such recent modifications usually signify the changing landscape of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional 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 remained stagnant within the past month. Onto Innovation presently features a Zacks Rank of #2 (Buy).
From a valuation perspective, Onto Innovation is currently exchanging hands at a Forward P/E ratio of 39.14. This represents no noticeable deviation compared to its industry's average Forward P/E of 39.14.
It is also worth noting that ONTO currently has a PEG ratio of 1.3. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. ONTO's industry had an average PEG ratio of 1.3 as of yesterday's close.
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 vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. 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 (ONTO) Advances While Market Declines: Some Information for Investors
Onto Innovation (ONTO - Free Report) closed at $204.39 in the latest trading session, marking a +0.74% move from the prior day. The stock's performance was ahead of the S&P 500's daily loss of 0.03%. Elsewhere, the Dow lost 0.61%, while the tech-heavy Nasdaq added 0.56%.
Prior to today's trading, shares of the maker of semiconductor manufacturing equipment had lost 8.89% over the past month. This has lagged the Computer and Technology sector's gain of 1.65% and the S&P 500's gain of 1.39% in that time.
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. The company is predicted to post an EPS of $1.31, indicating a 36.46% growth compared to the equivalent quarter last year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $250.54 million, up 20.92% from the year-ago period.
For the full year, the Zacks Consensus Estimates are projecting earnings of $5.18 per share and revenue of $977.85 million, which would represent changes of +38.87% and +19.85%, respectively, from the prior year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Onto Innovation. Such recent modifications usually signify the changing landscape of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional 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 remained stagnant within the past month. Onto Innovation presently features a Zacks Rank of #2 (Buy).
From a valuation perspective, Onto Innovation is currently exchanging hands at a Forward P/E ratio of 39.14. This represents no noticeable deviation compared to its industry's average Forward P/E of 39.14.
It is also worth noting that ONTO currently has a PEG ratio of 1.3. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. ONTO's industry had an average PEG ratio of 1.3 as of yesterday's close.
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 vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. 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.