Lecap Asset Management Ltd. Takes $2.04 Million Position in Onto Innovation Inc. (NYSE:ONTO)

Lecap Asset Management Ltd. purchased a new position in shares of Onto Innovation Inc. (NYSE:ONTO - Free Report) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 9,809 shares of the semiconductor company's stock, valued at approximately $2,036,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Global X Japan Co. Ltd. bought a new position in shares of Onto Innovation during the 3rd quarter worth about $982,000. Private Advisor Group LLC lifted its stake in Onto Innovation by 17.1% during the third quarter. Private Advisor Group LLC now owns 2,195 shares of the semiconductor company's stock worth $455,000 after purchasing an additional 321 shares during the period. Eastern Bank bought a new position in Onto Innovation during the third quarter worth about $65,000. Signaturefd LLC boosted its holdings in Onto Innovation by 33.2% during the third quarter. Signaturefd LLC now owns 999 shares of the semiconductor company's stock valued at $207,000 after purchasing an additional 249 shares in the last quarter. Finally, Sequoia Financial Advisors LLC grew its stake in shares of Onto Innovation by 2.4% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 20,113 shares of the semiconductor company's stock valued at $4,175,000 after purchasing an additional 480 shares during the period. Institutional investors own 98.35% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently commented on ONTO. Needham & Company LLC raised Onto Innovation from a "hold" rating to a "buy" rating in a research note on Monday, August 19th. Benchmark reaffirmed a "buy" rating and issued a $230.00 target price on shares of Onto Innovation in a report on Friday, August 9th. Oppenheimer lifted their price target on shares of Onto Innovation from $260.00 to $275.00 and gave the company an "outperform" rating in a report on Tuesday, October 1st. Finally, Stifel Nicolaus upped their price objective on shares of Onto Innovation from $240.00 to $270.00 and gave the stock a "buy" rating in a research note on Monday, July 15th. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $261.67.

Onto Innovation Trading Down 1.5 %

ONTO opened at $205.85 on Wednesday. The stock has a market capitalization of $10.14 billion, a PE ratio of 73.26, a PEG ratio of 1.36 and a beta of 1.36. The firm has a 50-day moving average price of $203.99 and a two-hundred day moving average price of $206.06. Onto Innovation Inc. has a 1-year low of $108.98 and a 1-year high of $238.93.

Onto Innovation (NYSE:ONTO - Get Free Report) last posted its quarterly earnings results on Thursday, August 8th. The semiconductor company reported $1.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.20 by $0.12. The business had revenue of $242.33 million for the quarter, compared to analysts' expectations of $235.43 million. Onto Innovation had a return on equity of 12.71% and a net margin of 18.50%. The firm's quarterly revenue was up 27.1% compared to the same quarter last year. During the same quarter last year, the business earned $0.79 earnings per share. On average, research analysts predict that Onto Innovation Inc. will post 5.18 EPS for the current year.

Insider Activity

In related news, SVP Srinivas Vedula sold 1,275 shares of Onto Innovation stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $207.24, for a total transaction of $264,231.00. Following the completion of the sale, the senior vice president now directly owns 16,050 shares of the company's stock, valued at $3,326,202. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.72% of the stock is currently owned by company insiders.

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.

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