Onto Innovation (ONTO) possesses the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
Does Onto Innovation (ONTO) have what it takes to be a top stock pick for momentum investors? Let's find out.
Onto Innovation (ONTO) has an impressive earnings surprise history and currently possesses the right combination of the two key ingredients for a likely beat in its next quarterly report.
ONTO's performance benefits from strong demand for its Dragonfly inspection system.
Here is how Onto Innovation (ONTO) and Motorola (MSI) have performed compared to their sector so far this year.
Onto Innovation (ONTO) might move higher on growing optimism about its earnings prospects, which is reflected by its upgrade to a Zacks Rank #2 (Buy).
In the most recent trading session, Onto Innovation (ONTO) closed at $209.05, indicating a +1.21% shift from the previous trading day.
Shares of Onto Innovation Inc (ONTO, Financial) surged 4.38% in mid-day trading on Oct 2. The stock reached an intraday high of $209.42, before settling at $209.35, up from its previous close of $200.57.
In the latest trading session, Onto Innovation (ONTO) closed at $199.91, marking a -1.56% move from the previous day.
ONTO's performance benefits from strong demand for its Dragonfly inspection system.
Onto Innovation is benefiting from the AI semiconductor boom, with high demand for high-bandwidth memory and advanced packaging products. Strong growth is expected in 2024 and 2025, with minimal China revenue compared to competitors, leading to continued share gains. Q2 results show continued sales improvement, with new business signed into 2025 and margins expected to improve, despite concerns over the Intel guidance cut.
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.