Lecap Asset Management Ltd. Raises Stock Holdings in Onto Innovation Inc. (NYSE:ONTO)

Lecap Asset Management Ltd. boosted its holdings in shares of Onto Innovation Inc. (NYSE:ONTO) by 45.8% during the 4th quarter, Holdings Channel.com reports. The firm owned 14,301 shares of the semiconductor company’s stock after purchasing an additional 4,492 shares during the quarter. Lecap Asset Management Ltd.’s holdings in Onto Innovation were worth $2,384,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. JPMorgan Chase & Co. increased its stake in shares of Onto Innovation by 12.9% in the third quarter. JPMorgan Chase & Co. now owns 2,008,399 shares of the semiconductor company’s stock worth $416,863,000 after buying an additional 228,800 shares during the last quarter. State Street Corp increased its stake in Onto Innovation by 2.8% during the third quarter. State Street Corp now owns 1,469,969 shares of the semiconductor company’s stock valued at $305,107,000 after purchasing an additional 39,367 shares during the last quarter. Franklin Resources Inc. raised its stake in Onto Innovation by 4.5% during the third quarter. Franklin Resources Inc. now owns 1,281,801 shares of the semiconductor company’s stock worth $288,320,000 after acquiring an additional 54,868 shares during the period. Congress Asset Management Co. lifted its holdings in Onto Innovation by 38.1% in the third quarter. Congress Asset Management Co. now owns 1,072,796 shares of the semiconductor company’s stock worth $222,670,000 after acquiring an additional 295,869 shares during the last quarter. Finally, Geneva Capital Management LLC boosted its stake in Onto Innovation by 2.6% in the third quarter. Geneva Capital Management LLC now owns 939,641 shares of the semiconductor company’s stock valued at $195,032,000 after acquiring an additional 23,628 shares during the period. 98.35% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts recently commented on ONTO shares. Cantor Fitzgerald began coverage on Onto Innovation in a research note on Monday, January 13th. They set an “overweight” rating and a $250.00 price objective for the company. Benchmark reissued a “buy” rating and set a $230.00 target price on shares of Onto Innovation in a research note on Friday, November 1st. Needham & Company LLC restated a “buy” rating and issued a $230.00 target price on shares of Onto Innovation in a research report on Friday. Oppenheimer reiterated an “outperform” rating and set a $275.00 price objective on shares of Onto Innovation in a research report on Tuesday, December 17th. Finally, Jefferies Financial Group lowered their target price on Onto Innovation from $265.00 to $245.00 and set a “buy” rating on the stock in a research report on Friday, November 1st. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $253.75.

Onto Innovation Stock Performance

Shares of ONTO opened at $210.86 on Friday. Onto Innovation Inc. has a 52 week low of $145.15 and a 52 week high of $238.93. The business’s fifty day moving average price is $184.54 and its two-hundred day moving average price is $190.24. The firm has a market capitalization of $10.41 billion, a price-to-earnings ratio of 57.14, a PEG ratio of 1.06 and a beta of 1.31.

Onto Innovation (NYSE:ONTO) last released its quarterly earnings data on Thursday, February 6th. The semiconductor company reported $1.51 earnings per share for the quarter, beating the consensus estimate of $1.41 by $0.10. Onto Innovation had a return on equity of 13.38% and a net margin of 19.44%. As a group, research analysts forecast that Onto Innovation Inc. will post 5.22 EPS for the current year.

Insider Transactions at Onto Innovation

In other news, SVP Srinivas Vedula sold 827 shares of Onto Innovation stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $205.00, for a total value of $169,535.00. Following the transaction, the senior vice president now owns 15,223 shares in the company, valued at approximately $3,120,715. This trade represents a 5.15 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Michael P. Plisinski sold 20,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 14th. The stock was sold at an average price of $200.19, for a total transaction of $4,003,800.00. Following the transaction, the chief executive officer now owns 215,492 shares of the company’s stock, valued at approximately $43,139,343.48. This represents a 8.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 85,827 shares of company stock worth $18,182,185 in the last ninety days. Insiders own 0.72% of the company’s stock.

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.