Onto Innovation (ONTO) Laps the Stock Market: Here's Why

Company Performance - Onto Innovation (ONTO) closed at $139.83, with a +1.89% increase from the previous day, outperforming the S&P 500's gain of 0.06% [1] - Prior to the latest trading session, Onto Innovation's shares had increased by 33.68%, significantly surpassing the Computer and Technology sector's gain of 8.78% and the S&P 500's gain of 3.94% [1] Upcoming Earnings - Analysts expect Onto Innovation to report earnings of $0.89 per share, reflecting a year-over-year decline of 33.58% [2] - The consensus estimate for revenue is $218.24 million, indicating a 13.47% decrease from the same quarter last year [2] Fiscal Year Estimates - For the entire fiscal year, the Zacks Consensus Estimates predict earnings of $4.92 per share and revenue of $992.52 million, showing changes of -7.87% and +0.53% respectively from the previous year [3] Analyst Forecast Revisions - Recent revisions to analyst forecasts for Onto Innovation are important as they reflect changes in short-term business dynamics, with positive revisions indicating analyst optimism [4] Zacks Rank and Valuation - Onto Innovation currently holds a Zacks Rank of 4 (Sell), with the Zacks Consensus EPS estimate remaining unchanged over the last 30 days [6] - The company is trading at a Forward P/E ratio of 27.91, which aligns with the industry average [7] - The PEG ratio for Onto Innovation is 0.93, consistent with the Nanotechnology industry's average PEG ratio of 0.93 [7] Industry Context - The Nanotechnology industry, part of the Computer and Technology sector, has a Zacks Industry Rank of 235, placing it in the bottom 5% of over 250 industries [8]