Morse Asset Management Inc Has $352,000 Stock Holdings in Onto Innovation Inc. (NYSE:ONTO)

Morse Asset Management Inc cut its stake in Onto Innovation Inc. (NYSE:ONTO - Free Report) by 87.4% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,110 shares of the semiconductor company's stock after selling 14,639 shares during the period. Morse Asset Management Inc's holdings in Onto Innovation were worth $352,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Millennium Management LLC lifted its position in shares of Onto Innovation by 35.3% during the fourth quarter. Millennium Management LLC now owns 152,323 shares of the semiconductor company's stock worth $25,388,000 after purchasing an additional 39,771 shares in the last quarter. Lazard Asset Management LLC increased its stake in shares of Onto Innovation by 80.9% in the fourth quarter. Lazard Asset Management LLC now owns 412,720 shares of the semiconductor company's stock worth $68,786,000 after buying an additional 184,612 shares during the last quarter. Granahan Investment Management LLC increased its stake in shares of Onto Innovation by 9.3% in the fourth quarter. Granahan Investment Management LLC now owns 26,704 shares of the semiconductor company's stock worth $4,451,000 after buying an additional 2,261 shares during the last quarter. Ethic Inc. bought a new stake in shares of Onto Innovation in the fourth quarter worth $710,000. Finally, Circle Wealth Management LLC increased its stake in shares of Onto Innovation by 17.5% in the fourth quarter. Circle Wealth Management LLC now owns 5,559 shares of the semiconductor company's stock worth $927,000 after buying an additional 827 shares during the last quarter. 98.35% of the stock is owned by institutional investors and hedge funds.

Onto Innovation Stock Performance

NYSE ONTO traded down $0.73 on Monday, reaching $98.67. The company's stock had a trading volume of 362,391 shares, compared to its average volume of 897,681. Onto Innovation Inc. has a twelve month low of $85.88 and a twelve month high of $238.93. The stock has a market cap of $4.82 billion, a PE ratio of 24.26, a PEG ratio of 0.89 and a beta of 1.55. The firm's 50 day moving average is $120.86 and its two-hundred day moving average is $155.76.

Onto Innovation (NYSE:ONTO - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The semiconductor company reported $1.51 EPS for the quarter, beating analysts' consensus estimates of $1.47 by $0.04. Onto Innovation had a net margin of 20.43% and a return on equity of 14.24%. The company had revenue of $267.00 million during the quarter, compared to analyst estimates of $267.03 million. During the same period in the prior year, the firm earned $1.18 earnings per share. The business's quarterly revenue was up 16.5% on a year-over-year basis. Equities research analysts anticipate that Onto Innovation Inc. will post 6.26 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages recently issued reports on ONTO. Benchmark dropped their price target on shares of Onto Innovation from $230.00 to $190.00 and set a "buy" rating for the company in a research note on Friday, May 9th. Jefferies Financial Group dropped their target price on shares of Onto Innovation from $245.00 to $175.00 and set a "buy" rating on the stock in a report on Friday, March 28th. Stifel Nicolaus dropped their target price on shares of Onto Innovation from $200.00 to $180.00 and set a "buy" rating on the stock in a report on Tuesday, April 15th. StockNews.com upgraded shares of Onto Innovation from a "sell" rating to a "hold" rating in a research report on Saturday. Finally, Oppenheimer lowered their price target on shares of Onto Innovation from $150.00 to $130.00 and set an "outperform" rating for the company in a research report on Friday, May 9th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $177.14.

Onto Innovation 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.