Onto Innovation (ONTO) Suffers a Larger Drop Than the General Market: Key Insights

Industry Overview - The Nanotechnology industry is part of the Computer and Technology sector, currently holding a Zacks Industry Rank of 97, which places it in the top 39% of over 250 industries [1] Company Performance - Onto Innovation is forecasted to report an EPS of $1.19, reflecting a 50.63% increase from the same quarter last year, with revenue expected to be $235.6 million, indicating a 23.57% year-over-year increase [2] - For the entire year, Zacks Consensus Estimates predict earnings of $5.05 per share and revenue of $941.16 million, representing increases of +35.39% and +15.36% compared to the previous year [3] Analyst Sentiment - Recent adjustments to analyst estimates for Onto Innovation indicate a favorable outlook on the company's business health and profitability, with positive revisions suggesting a strong near-term business trend [4] - The Zacks Rank system, which has a strong track record of outperformance, currently rates Onto Innovation as 2 (Buy) [7] Valuation Metrics - Onto Innovation has a Forward P/E ratio of 44.27, which is a premium compared to the industry's average Forward P/E of 33.41 [6] Stock Performance - The most recent trading session saw Onto Innovation's stock at $219.45, down 1.85% from the previous day's close, underperforming the S&P 500, which had a daily loss of 0.04% [9] - Over the past month, Onto Innovation's shares have decreased by 0.17%, which is better than the Computer and Technology sector's loss of 2.27% and lagging behind the S&P 500's gain of 4.15% [10]