Onto Innovation Inc (ONTO) stock has gained 4.91% over the past week and gets a Bullish rating from InvestorsObserver's Sentiment Indicator.
What is Stock Sentiment?
Sentiment uses short term technical analysis to gauge whether a stock is desired by investors. As a technical indicator, it focuses on recent trends as opposed to the long term health of the underlying company. Updates for the company such as a earnings release can move the stock away from current trends.
Recent trends are a good indator of current market sentiments. In its most basic form, stocks that are trending up are desirable by investors while stocks currently falling must be unattractive.
InvestorsObserver's Sentimental Indicator tracks both changes in price and volume to analyze the most recent trends. Typically an increase in volume indicates ongoing trends are getting stronger, while a decrease in volume usually signals an end to the current trend.
Available options can also represent current sentiments for a given stock. Since investors are able to bet on future trends of stocks using options, we consider the ratio of calls to puts when analyzing market sentiments .
What's Happening With ONTO Stock Today?
Onto Innovation Inc (ONTO) stock is lower by -2.19% while the S&P 500 has risen 0.36% as of 10:04 AM on Wednesday, Aug 5. ONTO has fallen -$0.84 from the previous closing price of $38.67 on volume of 100,506 shares. Over the past year the S&P 500 has gained 16.23% while ONTO has risen 3.76%. ONTO earned $0.04 a per share in the over the last 12 months, giving it a price-to-earnings ratio of 1056.56.
To see the top 5 stocks in the Semiconductors industry click here.
More About Onto Innovation Inc
Onto Innovation designs, develops, and manufactures process control tools and software and lithography systems. Its products are used in the manufacture of semiconductors and other solid-state devices. The company has three reportable segments: systems and software; parts; and services. The segment of systems and software is the largest contributor to the company's total revenue and sales volume. The company mainly operates in the United States, Asia, and Europe, with China and South Korea the largest sources of total revenue.
