ONTO Stock Summary and Trading Ideas (Onto Innovation | NYSE:ONTO)

Onto Innovation Inc is engaged in the design, development, manufacture, and support of high-performance control metrology, defect inspection, lithography, and data analysis systems used by microelectronics device manufacturers. The Company and its subsidiaries currently operate in a single operating segment. The company mainly operates in the United States, Southeast Asia, China, Japan, and Europe, with Taiwan and South Korea the largest sources of total revenue.

Onto Innovation trades on the NYSE stock market under the symbol ONTO.

As of April 18, 2024, ONTO stock price declined to $177.63 with 679,864 million shares trading.

ONTO has a beta of 1.98, meaning it tends to be more sensitive to market movements. ONTO has a correlation of 0.24 to the broad based SPY ETF.

ONTO has a market cap of $8.73 billion. This is considered a Mid Cap stock.

Last quarter Onto Innovation reported $219 million in Revenue and $1.06 earnings per share. This beat revenue expectation by $10 million and exceeded earnings estimates by $.05.

In the last 3 years, ONTO stock traded as high as $199.72 and as low as $56.02.

The top ETF exchange traded funds that ONTO belongs to (by Net Assets): VTI, IJH, VB, IWM, VXF.

ONTO has outperformed the market in the last year with a return of +119.4%, while the SPY ETF gained +22.3%. In the last 3 month period, ONTO beat the market returning +21.2%, while SPY returned +6.1%. However, in the most recent 2 weeks ONTO has underperformed the stock market by returning -6.4%, while SPY returned -3.8%.

ONTO support price is $176.63 and resistance is $187.25 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that ONTO stock will trade within this expected range on the day.