Onto Innovation (ONTO) Rises Higher Than Market: Key Facts

Onto Innovation (ONTO) closed at $133.08 in the latest trading session, marking a +2.07% move from the prior day. The stock's performance was ahead of the S&P 500's daily gain of 0.4%. Elsewhere, the Dow saw a downswing of 0.04%, while the tech-heavy Nasdaq appreciated by 0.66%. Prior to today's trading, shares of the maker of semiconductor manufacturing equipment had gained 8.13% outpaced the Computer and Technology sector's gain of 2.27% and the S&P 500's gain of 1.02%.Investors will be eagerly watching for the performance of Onto Innovation in its upcoming earnings disclosure. The company's earnings per share (EPS) are projected to be $0.87, reflecting a 35.07% decrease from the same quarter last year. In the meantime, our current consensus estimate forecasts the revenue to be $218.24 million, indicating a 13.47% decline compared to the corresponding quarter of the prior year. In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $4.89 per share and a revenue of $995.73 million, indicating changes of -8.43% and +0.85%, respectively, from the former year. Any recent changes to analyst estimates for Onto Innovation should also be noted by investors. Such recent modifications usually signify the changing landscape of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability. Our research suggests that these changes in estimates have a direct relationship with upcoming 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 has moved 0.62% lower. Right now, Onto Innovation possesses a Zacks Rank of #4 (Sell). In terms of valuation, Onto Innovation is currently trading at a Forward P/E ratio of 26.68. Its industry sports an average Forward P/E of 26.68, so one might conclude that Onto Innovation is trading at no noticeable deviation comparatively. Also, we should mention that ONTO has a PEG ratio of 0.89. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. ONTO's industry had an average PEG ratio of 0.89 as of yesterday's close. The Nanotechnology industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 232, putting it in the bottom 7% of all 250+ industries. The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these 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. Zacks' Research Chief Names "Stock Most Likely to Double"Our team of experts has just released the 5 stocks with the greatest probability of gaining +100% or more in the coming months. Of those 5, Director of Research Sheraz Mian highlights the one stock set to climb highest.This top pick is a little-known satellite-based communications firm. Space is projected to become a trillion dollar industry, and this company's customer base is growing fast. Analysts have forecasted a major revenue breakout in 2025. Of course, all our elite picks aren't winners but this one could far surpass earlier Zacks' Stocks Set to Double like Hims & Hers Health, which shot up +209%.Free: See Our Top Stock And 4 Runners UpWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Onto Innovation Inc. (ONTO): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks