Published on 24 May 2024 on Zacks via Yahoo Finance
Onto Innovation (ONTO) Up 122% in a Year: Will the Rally Last?
Onto Innovation ONTO is continuing its upward trajectory, with a gain of 121.5% in the past year compared with the S&P 500 composite and sub-industry’s growth of 27% and 112.4%, respectively.Headquartered in Wilmington, MA, Onto Innovation specializes in the design, development, manufacture and support of metrology and inspection tools primarily for semiconductor device fabricators, silicon wafer manufacturers and advanced packaging manufacturers in the semiconductor space.Solid financial performance has been aiding a good run on the trading front. The stock has gained 9.2% since announcing first-quarter 2024 results on May 9.ONTO outpaced estimates in three of the trailing four quarters while missing in the other, with the average surprise being 2.6%.
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