Momentum investing revolves around the idea of following a stock's recent trend in either direction. In the 'long' context, investors will be essentially be "buying high, but hoping to sell even higher." With this methodology, taking advantage of trends in a stock's price is key; once a stock establishes a course, it is more than likely to continue moving that way. The goal is that once a stock heads down a fixed path, it will lead to timely and profitable trades. While many investors like to look for momen ...

Onto Innovation's (ONTO) stock has gained 18.5% in the past six months, outperforming its sub-industry, the Zacks Computer and Technology sector and the S&P 500 composite's growth of 17.4%, 16.5% and 15.9%, respectively. Image Source: Zacks Investment Research Six-Month Price Performance Chart Headquartered in Wilmington, MA, ONTO specializes in the design, development, manufacture and support of metrology and inspection tools, primarily for semiconductor device fabricators, silicon wafer manufacturers and ...

The Computer and Technology group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Is Onto Innovation (ONTO) one of those stocks right now? Let's take a closer look at the stock's year-to-date performance to find out. Onto Innovation is a member of our Computer and Technology group, which includes 621 different companies and currently sits at #4 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 different sector groups. The averag ...

Onto Innovation (ONTO) could be a solid addition to your portfolio given its recent upgrade to a Zacks Rank #2 (Buy). This rating change essentially reflects an upward trend in earnings estimates -- one of the most powerful forces impacting stock prices. The Zacks rating relies solely on a company's changing earnings picture. It tracks EPS estimates for the current and following years from the sell-side analysts covering the stock through a consensus measure -- the Zacks Consensus Estimate. The power of a c ...

In the latest market close, Onto Innovation (ONTO) reached $209.05, with a +1.21% movement compared to the previous day. The stock's change was more than the S&P 500's daily gain of 0.9%. Meanwhile, the Dow gained 0.81%, and the Nasdaq, a tech-heavy index, added 1.22%. Heading into today, shares of the maker of semiconductor manufacturing equipment had gained 10.07% over the past month, outpacing the Computer and Technology sector's gain of 5.76% and the S&P 500's gain of 3.15% in that time. Investors will ...

Onto Innovation (ONTO) closed the latest trading day at $199.91, indicating a -1.56% change from the previous session's end. The stock fell short of the S&P 500, which registered a loss of 0.19% for the day. Elsewhere, the Dow saw an upswing of 0.09%, while the tech-heavy Nasdaq depreciated by 0.36%. Coming into today, shares of the maker of semiconductor manufacturing equipment had lost 2.4% in the past month. In that same time, the Computer and Technology sector lost 0.09%, while the S&P 500 gained 2.06%. ...

Onto Innovation's (ONTO) shares have been performing well on the trading front, with a gain of 48.6% in the past year compared with the S&P 500 composite and sub-industry's growth of 23.5% and 44.1%, respectively. Closing at $192.97 as of yesterday's trading session, ONTO stock is currently trading 19.2% below its 52-week high of $238.93, attained on July 16, 2024. Solid financial performance has been aiding the stock's trajectory. ONTO outpaced estimates in each of the trailing four quarters, with the aver ...

krystiannawrocki/iStock via Getty Images Onto Innovation (NYSE:ONTO) is riding the wave of AI semiconductor proliferation, as led by Nvidia (NVDA). The company is seeing a huge influx of demand for high bandwidth memory and advanced packaging products for semiconductor companies. This space of semiconductor equipment has proven to be lucrative, with companies directly involved seeing significant revenue acceleration with good visibility. Onto has recently called out strong growth in 2024 and into 2025, allo ...

Onto Innovation's (ONTO) shares have been performing well on the trading front, with a gain of 30.3% year to date compared with the S&P 500 composite's and sub-industry's growth of 14.1% and 28.5%, respectively. Solid financial performance has been aiding the stock's trajectory. The stock has gained 12% since announcing second-quarter fiscal 2024 results on Aug 8. ONTO outpaced estimates in each of the trailing four quarters, with the average surprise being 6.6%. The stock is trading down 16.7% from its 52- ...

Core Insights - Onto Innovation Inc (ONTO) reported strong second-quarter 2024 earnings, with earnings per share (EPS) of $1.32, exceeding the Zacks Consensus Estimate by 10.9% and significantly up from 79 cents in the prior-year quarter [1] - Revenues reached $242.3 million, surpassing the Zacks Consensus Estimate by 2.9% and reflecting a year-over-year growth of 27.1%, driven by high-performance computing and AI sector demand [2][3] Financial Performance - The revenue of $242.3 million exceeded the company's guidance range of $230-$240 million, with a record $164 million from specialty and advanced packaging customers, primarily due to AI packaging demand [3] - Advanced nodes revenues increased by 45% sequentially to $27 million, while specialty devices and advanced packaging revenues were $158 million, showing a slight sequential rise [5] - Non-GAAP gross profit rose to $129 million from $100.5 million year-over-year, maintaining a gross margin of 53% [6] Operational Highlights - The company secured over $300 million in volume purchase agreements with two major customers, extending through 2025, focusing on AI advanced packaging and gate-all-around technologies [3] - The introduction of the JetStep X500 lithography tool enhances the product portfolio for next-generation glass substrates used in panel-level packaging [4] Balance Sheet and Outlook - As of June 29, 2024, the company had $786 million in cash and equivalents, with total current liabilities of $148.4 million, indicating a solid financial position [7] - For Q3, management expects revenues between $245-$255 million and non-GAAP EPS between $1.25 and $1.35, with the Zacks Consensus Estimate at $231.1 million [8]