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Onto Innovation (ONTO) closed at $122.28 in the latest trading session, marking a -1.96% move from the prior day. This move lagged the S&P 500's daily gain of 0.58%. Meanwhile, the Dow experienced a rise of 0.75%, and the technology-dominated Nasdaq saw an increase of 0.55%.
Heading into today, shares of the maker of semiconductor manufacturing equipment had gained 2.79% over the past month, outpacing the Computer and Technology sector's gain of 0.6% and the S&P 500's loss of 0.84% in that time.
Analysts and investors alike will be keeping a close eye on the performance of Onto Innovation in its upcoming earnings disclosure. The company's earnings report is set to go public on May 8, 2025. The company is forecasted to report an EPS of $1.47, showcasing a 24.58% upward movement from the corresponding quarter of the prior year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $264.96 million, up 15.78% from the year-ago period.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $6.09 per share and a revenue of $1.07 billion, indicating changes of +14.04% and +8.62%, respectively, from the former year.
Investors should also pay attention to any latest changes in analyst estimates for Onto Innovation. These recent revisions tend to reflect the evolving nature of short-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate has moved 3.21% lower within the past month. Onto Innovation presently features a Zacks Rank of #4 (Sell).
In terms of valuation, Onto Innovation is currently trading at a Forward P/E ratio of 20.5. This represents no noticeable deviation compared to its industry's average Forward P/E of 20.5.
It is also worth noting that ONTO currently has a PEG ratio of 0.68. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. Nanotechnology stocks are, on average, holding a PEG ratio of 0.68 based on yesterday's closing prices.