Lecap Asset Management Ltd. Sells 3,034 Shares of Onto Innovation Inc. (NYSE:ONTO)

Lecap Asset Management Ltd. trimmed its position in shares of Onto Innovation Inc. (NYSE:ONTO - Free Report) by 21.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 11,267 shares of the semiconductor company's stock after selling 3,034 shares during the quarter. Lecap Asset Management Ltd.'s holdings in Onto Innovation were worth $1,367,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in ONTO. MassMutual Private Wealth & Trust FSB boosted its position in Onto Innovation by 177.6% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 236 shares of the semiconductor company's stock worth $29,000 after purchasing an additional 151 shares during the last quarter. Johnson Financial Group Inc. bought a new stake in shares of Onto Innovation during the 4th quarter worth $38,000. SBI Securities Co. Ltd. purchased a new position in shares of Onto Innovation in the 4th quarter worth about $43,000. Aster Capital Management DIFC Ltd purchased a new position in shares of Onto Innovation in the 4th quarter worth about $47,000. Finally, Versant Capital Management Inc grew its position in Onto Innovation by 165.0% during the first quarter. Versant Capital Management Inc now owns 620 shares of the semiconductor company's stock valued at $75,000 after buying an additional 386 shares during the period. Institutional investors own 98.35% of the company's stock.

Onto Innovation Price Performance

Shares of Onto Innovation stock traded down $1.58 during trading hours on Friday, reaching $98.66. The company had a trading volume of 1,636,334 shares, compared to its average volume of 990,604. The business has a fifty day simple moving average of $104.01 and a 200 day simple moving average of $141.55. Onto Innovation Inc. has a one year low of $85.88 and a one year high of $238.93. The firm has a market cap of $4.82 billion, a PE ratio of 22.32, a price-to-earnings-growth ratio of 0.65 and a beta of 1.45.

Onto Innovation (NYSE:ONTO - Get Free Report) last posted its earnings results on Thursday, May 8th. The semiconductor company reported $1.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.47 by $0.04. Onto Innovation had a net margin of 21.36% and a return on equity of 14.85%. The business had revenue of $267.00 million for the quarter, compared to analysts' expectations of $267.03 million. During the same period in the prior year, the company posted $1.18 EPS. The business's revenue for the quarter was up 16.5% compared to the same quarter last year. On average, research analysts forecast that Onto Innovation Inc. will post 6.26 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Wall Street Zen raised shares of Onto Innovation from a "sell" rating to a "hold" rating in a research report on Saturday, May 17th. Needham & Company LLC lowered their price target on shares of Onto Innovation from $230.00 to $150.00 and set a "buy" rating on the stock in a report on Friday, May 9th. Jefferies Financial Group set a $110.00 price objective on Onto Innovation and gave the company a "hold" rating in a research note on Tuesday, May 20th. Oppenheimer decreased their target price on Onto Innovation from $150.00 to $130.00 and set an "outperform" rating for the company in a research report on Friday, May 9th. Finally, Stifel Nicolaus dropped their price target on Onto Innovation from $200.00 to $180.00 and set a "buy" rating on the stock in a research report on Tuesday, April 15th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $141.67.

Onto Innovation Company Profile

Onto Innovation Inc engages in the design, development, manufacture, and support of process control tools that performs optical metrology. The company offers lithography systems and process control analytical software. It also offers process and yield management solutions, and device packaging and test facilities through standalone systems for optical metrology, macro-defect inspection, packaging lithography, and transparent and opaque thin film measurements.