Guggenheim Capital LLC Has $1.09 Million Stake in Onto Innovation Inc. (NYSE:ONTO)

Guggenheim Capital LLC lessened its position in Onto Innovation Inc. (NYSE:ONTO - Free Report) by 40.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,559 shares of the semiconductor company's stock after selling 4,396 shares during the period. Guggenheim Capital LLC's holdings in Onto Innovation were worth $1,093,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of ONTO. Vanguard Group Inc. boosted its holdings in shares of Onto Innovation by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 5,166,137 shares of the semiconductor company's stock worth $861,040,000 after buying an additional 76,233 shares during the period. JPMorgan Chase & Co. grew its stake in shares of Onto Innovation by 9.2% in the fourth quarter. JPMorgan Chase & Co. now owns 2,192,238 shares of the semiconductor company's stock valued at $365,380,000 after acquiring an additional 183,839 shares in the last quarter. Franklin Resources Inc. increased its position in Onto Innovation by 21.2% during the fourth quarter. Franklin Resources Inc. now owns 1,553,271 shares of the semiconductor company's stock worth $258,883,000 after acquiring an additional 271,470 shares during the period. Artisan Partners Limited Partnership raised its stake in Onto Innovation by 41.6% in the 4th quarter. Artisan Partners Limited Partnership now owns 1,515,152 shares of the semiconductor company's stock worth $252,530,000 after purchasing an additional 444,860 shares in the last quarter. Finally, Invesco Ltd. grew its position in shares of Onto Innovation by 33.9% during the 4th quarter. Invesco Ltd. now owns 1,406,034 shares of the semiconductor company's stock worth $234,344,000 after purchasing an additional 356,161 shares in the last quarter. 98.35% of the stock is currently owned by institutional investors and hedge funds.

Onto Innovation Price Performance

Shares of NYSE:ONTO opened at $114.16 on Wednesday. Onto Innovation Inc. has a one year low of $98.21 and a one year high of $238.93. The company has a market cap of $5.58 billion, a price-to-earnings ratio of 28.12, a PEG ratio of 0.89 and a beta of 1.46. The firm has a 50 day simple moving average of $133.60 and a 200 day simple moving average of $167.77.

Onto Innovation (NYSE:ONTO - Get Free Report) 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 14.24% and a net margin of 20.43%. As a group, analysts expect that Onto Innovation Inc. will post 6.26 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have commented on ONTO. Needham & Company LLC restated a "buy" rating and set a $230.00 price objective on shares of Onto Innovation in a research note on Friday, February 7th. Jefferies Financial Group cut their price objective on shares of Onto Innovation from $245.00 to $175.00 and set a "buy" rating for the company in a research report on Friday, March 28th. Benchmark reissued a "buy" rating and issued a $230.00 target price on shares of Onto Innovation in a report on Friday, February 7th. StockNews.com raised shares of Onto Innovation from a "sell" rating to a "hold" rating in a report on Thursday, February 27th. Finally, Oppenheimer lowered their price objective on shares of Onto Innovation from $240.00 to $150.00 and set an "outperform" rating for the company in a research report on Friday, April 11th. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, Onto Innovation presently has an average rating of "Moderate Buy" and an average target price of $218.13.

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.

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