Onto Innovation (ONTO) Soars 30% YTD: Will the Rally Last?

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- ...