Legato Capital Management LLC Trims Stock Position in Onto Innovation Inc. (NYSE:ONTO)

Legato Capital Management LLC trimmed its stake in shares of Onto Innovation Inc. (NYSE:ONTO - Free Report) by 32.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,357 shares of the semiconductor company's stock after selling 3,525 shares during the quarter. Legato Capital Management LLC's holdings in Onto Innovation were worth $1,226,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in ONTO. Mather Group LLC. boosted its holdings in shares of Onto Innovation by 209.4% in the 4th quarter. Mather Group LLC. now owns 164 shares of the semiconductor company's stock worth $27,000 after acquiring an additional 111 shares in the last quarter. Versant Capital Management Inc raised its position in Onto Innovation by 532.4% in the 4th quarter. Versant Capital Management Inc now owns 234 shares of the semiconductor company's stock worth $39,000 after purchasing an additional 197 shares during the last quarter. Berbice Capital Management LLC bought a new position in Onto Innovation in the 4th quarter worth approximately $50,000. Eastern Bank bought a new position in Onto Innovation in the 3rd quarter worth approximately $65,000. Finally, UMB Bank n.a. raised its position in Onto Innovation by 22.8% in the 4th quarter. UMB Bank n.a. now owns 398 shares of the semiconductor company's stock worth $66,000 after purchasing an additional 74 shares during the last quarter. 98.35% of the stock is owned by institutional investors and hedge funds.

Onto Innovation Trading Up 1.6 %

Shares of NYSE:ONTO traded up $2.83 during trading on Friday, reaching $176.68. The company had a trading volume of 1,079,850 shares, compared to its average volume of 884,934. The company has a fifty day moving average of $186.64 and a two-hundred day moving average of $189.63. The stock has a market capitalization of $8.73 billion, a P/E ratio of 43.52, a price-to-earnings-growth ratio of 1.09 and a beta of 1.31. Onto Innovation Inc. has a 12 month low of $145.15 and a 12 month high of $238.93.

Onto Innovation (NYSE:ONTO - Get Free Report) last issued its quarterly earnings results on Thursday, February 6th. The semiconductor company reported $1.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.41 by $0.10. Onto Innovation had a net margin of 20.43% and a return on equity of 14.41%. As a group, equities research analysts predict that Onto Innovation Inc. will post 6.46 earnings per share for the current year.

Insider Activity

In related news, CEO Michael P. Plisinski sold 20,000 shares of the firm's stock in a transaction that occurred on Tuesday, January 14th. The shares were sold at an average price of $200.19, for a total value 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 trade represents a 8.49 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Srinivas Vedula sold 827 shares of the firm's stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $205.00, for a total transaction of $169,535.00. Following the completion of the transaction, the senior vice president now directly owns 15,223 shares in the company, valued at approximately $3,120,715. The trade was a 5.15 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 85,827 shares of company stock valued at $18,182,185 in the last 90 days. 0.72% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several brokerages have commented on ONTO. Jefferies Financial Group dropped their target price on shares of Onto Innovation from $265.00 to $245.00 and set a "buy" rating for the company in a research report on Friday, November 1st. Needham & Company LLC restated a "buy" rating and issued a $230.00 price objective on shares of Onto Innovation in a research report on Friday, February 7th. Cantor Fitzgerald restated an "overweight" rating and issued a $250.00 price objective on shares of Onto Innovation in a research report on Friday, February 7th. Benchmark reaffirmed a "buy" rating and issued a $230.00 target price on shares of Onto Innovation in a research note on Friday, February 7th. Finally, Stifel Nicolaus reduced their target price on shares of Onto Innovation from $270.00 to $250.00 and set a "buy" rating for the company in a research note on Friday, February 7th. One analyst has rated the stock with a sell rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $251.25.

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.