Lisanti Capital Growth LLC Decreases Stock Position in Onto Innovation Inc. (NYSE:ONTO)

Lisanti Capital Growth LLC lowered its stake in shares of Onto Innovation Inc. (NYSE:ONTO - Free Report) by 53.2% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 14,450 shares of the semiconductor company's stock after selling 16,450 shares during the period. Lisanti Capital Growth LLC's holdings in Onto Innovation were worth $2,999,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Vaughan Nelson Investment Management L.P. raised its position in shares of Onto Innovation by 24.6% during the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 202,425 shares of the semiconductor company's stock valued at $44,444,000 after acquiring an additional 39,955 shares in the last quarter. Envestnet Portfolio Solutions Inc. boosted its stake in Onto Innovation by 98.5% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 5,547 shares of the semiconductor company's stock worth $1,218,000 after purchasing an additional 2,753 shares during the period. Public Employees Retirement Association of Colorado raised its position in Onto Innovation by 45.7% during the second quarter. Public Employees Retirement Association of Colorado now owns 105,267 shares of the semiconductor company's stock valued at $23,112,000 after buying an additional 33,025 shares during the period. Sei Investments Co. raised its stake in shares of Onto Innovation by 15.1% during the 1st quarter. Sei Investments Co. now owns 143,628 shares of the semiconductor company's stock worth $26,008,000 after purchasing an additional 18,843 shares in the last quarter. Finally, Bessemer Group Inc. raised its holdings in shares of Onto Innovation by 7.0% during the 1st quarter. Bessemer Group Inc. now owns 119,890 shares of the semiconductor company's stock valued at $21,709,000 after purchasing an additional 7,815 shares in the last quarter. Hedge funds and other institutional investors own 98.35% of the company's stock.

Insider Buying and Selling at Onto Innovation

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

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. Stifel Nicolaus upped their price objective on shares of Onto Innovation from $240.00 to $270.00 and gave the company a "buy" rating in a research report on Monday, July 15th. Jefferies Financial Group dropped their price objective 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. Oppenheimer upped their target price on shares of Onto Innovation from $260.00 to $275.00 and gave the company an "outperform" rating in a research report on Friday, November 1st. Needham & Company LLC lowered their target price on shares of Onto Innovation from $245.00 to $230.00 and set a "buy" rating for the company in a research note on Friday, November 1st. Finally, Benchmark restated a "buy" rating and set a $230.00 target price on shares of Onto Innovation in a report on Friday, November 1st. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, Onto Innovation has an average rating of "Moderate Buy" and a consensus price target of $254.29.

Onto Innovation Stock Down 0.8 %

Shares of ONTO traded down $1.41 during midday trading on Monday, hitting $174.63. The company's stock had a trading volume of 727,507 shares, compared to its average volume of 581,748. The stock has a market capitalization of $8.62 billion, a price-to-earnings ratio of 47.38, a price-to-earnings-growth ratio of 1.13 and a beta of 1.37. The company's fifty day simple moving average is $199.08 and its two-hundred day simple moving average is $206.90. Onto Innovation Inc. has a one year low of $131.78 and a one year high of $238.93.

Onto Innovation (NYSE:ONTO - Get Free Report) last released its earnings results on Thursday, October 31st. The semiconductor company reported $1.34 earnings per share for the quarter, beating analysts' consensus estimates of $1.31 by $0.03. Onto Innovation had a net margin of 19.44% and a return on equity of 13.38%. The business had revenue of $252.20 million during the quarter, compared to the consensus estimate of $250.85 million. During the same quarter in the prior year, the firm posted $0.96 EPS. The company's revenue for the quarter was up 21.7% compared to the same quarter last year. On average, research analysts predict that Onto Innovation Inc. will post 5.19 earnings per share for the current year.

About Onto Innovation

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.