Onto Innovation (ONTO) got here out with quarterly earnings of $0.40 per share, beating the Zacks Consensus Estimate of $0.33 per share. This compares to earnings of $0.30 per share a 12 months in the past. These figures are adjusted for non-recurring gadgets.
This quarterly report represents an earnings shock of 21.21%. 1 / 4 in the past, it was anticipated that this maker of semiconductor manufacturing gear would publish earnings of $0.35 per share when it truly produced earnings of $0.42, delivering a shock of 20%.
Over the past 4 quarters, the corporate has surpassed consensus EPS estimates 4 instances.
Onto Innovation, which belongs to the Zacks Nanotechnology business, posted revenues of $126.49 million for the quarter ended September 2020, lacking the Zacks Consensus Estimate by 0.95%. This compares to year-ago revenues of $73.13 million. The corporate has topped consensus income estimates thrice over the past 4 quarters.
The sustainability of the inventory’s speedy worth motion based mostly on the recently-released numbers and future earnings expectations will principally rely on administration’s commentary on the earnings name.
Onto Innovation shares have misplaced about 12.2% because the starting of the 12 months versus the S&P 500’s acquire of 1.2%.
What’s Subsequent for Onto Innovation?
Whereas Onto Innovation has underperformed the market up to now this 12 months, the query that involves buyers’ minds is: what’s subsequent for the inventory?
There aren’t any straightforward solutions to this key query, however one dependable measure that may assist buyers deal with that is the corporate’s earnings outlook. Not solely does this embody present consensus earnings expectations for the approaching quarter(s), but in addition how these expectations have modified currently.
Empirical analysis reveals a robust correlation between near-term inventory actions and traits in earnings estimate revisions. Traders can observe such revisions by themselves or depend on a tried-and-tested score instrument just like the Zacks Rank, which has a powerful observe file of harnessing the ability of earnings estimate revisions.
Forward of this earnings launch, the estimate revisions pattern for Onto Innovation was blended. Whereas the magnitude and path of estimate revisions might change following the corporate’s just-released earnings report, the present standing interprets right into a Zacks Rank #3 (Maintain) for the inventory. So, the shares are anticipated to carry out according to the market within the close to future. You may see the whole record of in the present day’s Zacks #1 Rank (Robust Purchase) shares right here.
It will likely be fascinating to see how estimates for the approaching quarters and present fiscal 12 months change within the days forward. The present consensus EPS estimate is $0.46 on $142.65 million in revenues for the approaching quarter and $1.61 on $545.15 million in revenues for the present fiscal 12 months.
Traders must be aware of the truth that the outlook for the business can have a fabric affect on the efficiency of the inventory as nicely. By way of the Zacks Business Rank, Nanotechnology is at present within the prime 16% of the 250 plus Zacks industries. Our analysis reveals that the highest 50% of the Zacks-ranked industries outperform the underside 50% by an element of greater than 2 to 1.
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Nanometrics Integrated (ONTO): Free Inventory Evaluation Report
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