Mariner LLC Lowers Position in Onto Innovation Inc. (NYSE:ONTO)

Mariner LLC lessened its position in Onto Innovation Inc. (NYSE:ONTO - Free Report) by 36.9% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 4,778 shares of the semiconductor company's stock after selling 2,792 shares during the quarter. Mariner LLC's holdings in Onto Innovation were worth $796,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Kestra Investment Management LLC purchased a new position in shares of Onto Innovation in the 4th quarter valued at approximately $26,000. Mather Group LLC. lifted its stake 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 valued at $27,000 after purchasing an additional 111 shares during the period. Versant Capital Management Inc lifted its stake in shares of Onto Innovation by 532.4% in the 4th quarter. Versant Capital Management Inc now owns 234 shares of the semiconductor company's stock valued at $39,000 after purchasing an additional 197 shares during the period. SBI Securities Co. Ltd. purchased a new position in shares of Onto Innovation in the 4th quarter valued at approximately $43,000. Finally, Aster Capital Management DIFC Ltd purchased a new position in shares of Onto Innovation in the 4th quarter valued at approximately $47,000. Hedge funds and other institutional investors own 98.35% of the company's stock.

Onto Innovation Stock Down 0.8 %

Shares of NYSE:ONTO opened at $124.56 on Tuesday. The firm's 50 day moving average price is $129.56 and its 200-day moving average price is $165.04. Onto Innovation Inc. has a twelve month low of $98.21 and a twelve month high of $238.93. The stock has a market capitalization of $6.08 billion, a PE ratio of 30.68, a price-to-earnings-growth ratio of 0.89 and a beta of 1.46.

Onto Innovation (NYSE:ONTO - Get Free Report) last issued its quarterly earnings data on Thursday, February 6th. The semiconductor company reported $1.51 earnings per share 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 14.24%. Analysts expect that Onto Innovation Inc. will post 6.26 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have issued reports on ONTO shares. StockNews.com upgraded Onto Innovation from a "sell" rating to a "hold" rating in a research note on Thursday, February 27th. Benchmark reiterated a "buy" rating and issued a $230.00 price target on shares of Onto Innovation in a research note on Friday, February 7th. Oppenheimer cut their price objective on shares of Onto Innovation from $240.00 to $150.00 and set an "outperform" rating on the stock in a research report on Friday, April 11th. Needham & Company LLC reissued a "buy" rating and set a $230.00 price objective on shares of Onto Innovation in a research report on Friday, February 7th. Finally, Jefferies Financial Group cut their price objective on shares of Onto Innovation from $245.00 to $175.00 and set a "buy" rating on the stock in a research report on Friday, March 28th. 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 stock has an average rating of "Moderate Buy" and a consensus price target of $218.13.

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.

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