Onto Innovation (ONTO) Outperforms Broader Market: What You Need to Know

In the latest market close, Onto Innovation (ONTO) reached $216.59, with a +1.68% movement compared to the previous day. The stock exceeded the S&P 500, which registered a gain of 1% for the day. Meanwhile, the Dow experienced a rise of 0.78%, and the technology-dominated Nasdaq saw an increase of 1.51%.Shares of the maker of semiconductor manufacturing equipment have appreciated by 27.18% over the course of the past month, outperforming the Computer and Technology sector's loss of 4.13% and the S&P 500's loss of 2.14%.Investors will be eagerly watching for the performance of Onto Innovation in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on February 6, 2025. The company is forecasted to report an EPS of $1.39, showcasing a 31.13% upward movement from the corresponding quarter of the prior year. Alongside, our most recent consensus estimate is anticipating revenue of $259.43 million, indicating a 18.54% upward movement from the same quarter last year.Investors should also note any recent changes to analyst estimates for Onto Innovation. These recent revisions tend to reflect the evolving nature of short-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.Our research suggests that these changes in estimates have a direct relationship with upcoming 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 remained stagnant. Onto Innovation presently features a Zacks Rank of #3 (Hold).From a valuation perspective, Onto Innovation is currently exchanging hands at a Forward P/E ratio of 33.1. Its industry sports an average Forward P/E of 33.1, so one might conclude that Onto Innovation is trading at no noticeable deviation comparatively.We can additionally observe that ONTO currently boasts a PEG ratio of 1.1. 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 of the close of trade yesterday, the Nanotechnology industry held an average PEG ratio of 1.1.The Nanotechnology industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 84, finds itself in the top 34% 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.Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.Just Released: Zacks Top 10 Stocks for 2025Hurry – you can still get in early on our 10 top tickers for 2025. Handpicked by Zacks Director of Research Sheraz Mian, this portfolio has been stunningly and consistently successful. From inception in 2012 through November, 2024, the Zacks Top 10 Stocks gained +2,112.6%, more than QUADRUPLING the S&P 500’s +475.6%. Sheraz has combed through 4,400 companies covered by the Zacks Rank and handpicked the best 10 to buy and hold in 2025. You can still be among the first to see these just-released stocks with enormous potential. See New Top 10 Stocks >>Want 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 ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks