Onto Innovation (ONTO) closed the latest trading day at $170.66, indicating a -1.04% change from the previous session's end. The stock's performance was ahead of the S&P 500's daily loss of 1.11%. Elsewhere, the Dow lost 0.77%, while the tech-heavy Nasdaq lost 1.49%.

Shares of the maker of semiconductor manufacturing equipment witnessed a gain of 7.09% over the previous month, beating the performance of the Computer and Technology sector with its gain of 5.27% and the S&P 500's gain of 0.4%.

Investors will be eagerly watching for the performance of Onto Innovation in its upcoming earnings disclosure. The company is predicted to post an EPS of $1.39, indicating a 31.13% growth compared to the equivalent quarter last year. Our most recent consensus estimate is calling for quarterly revenue of $259.43 million, up 18.54% from the year-ago period.

Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $5.22 per share and revenue of $982.83 million, indicating changes of +39.95% and +20.46%, respectively, compared to the previous year.

It's also important for investors to be aware of any recent modifications to analyst estimates for Onto Innovation. These recent revisions tend to reflect the evolving nature of short-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.

Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.

The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Onto Innovation is holding a Zacks Rank of #3 (Hold) right now.

In the context of valuation, Onto Innovation is at present trading with a Forward P/E ratio of 33.04. This denotes no noticeable deviation relative to the industry's average Forward P/E of 33.04.

We can additionally observe that ONTO currently boasts a PEG ratio of 1.1. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The Nanotechnology industry had an average PEG ratio of 1.1 as trading concluded yesterday.

The Nanotechnology industry is part of the Computer and Technology sector. With its current Zacks Industry Rank of 79, this industry ranks in the top 32% of all industries, numbering over 250.

The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

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