Marshall Wace LLP Trims Stock Holdings in Onto Innovation Inc. (NYSE:ONTO)

Marshall Wace LLP reduced its position in Onto Innovation Inc. (NYSE:ONTO - Free Report) by 53.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 235,013 shares of the semiconductor company's stock after selling 270,912 shares during the period. Marshall Wace LLP owned approximately 0.48% of Onto Innovation worth $39,170,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of the company. Commonwealth Equity Services LLC grew its stake in shares of Onto Innovation by 1.4% during the 4th quarter. Commonwealth Equity Services LLC now owns 16,083 shares of the semiconductor company's stock valued at $2,680,000 after purchasing an additional 225 shares during the period. JPMorgan Chase & Co. grew its position in Onto Innovation by 12.9% during the third quarter. JPMorgan Chase & Co. now owns 2,008,399 shares of the semiconductor company's stock valued at $416,863,000 after buying an additional 228,800 shares during the period. Barclays PLC increased its holdings in Onto Innovation by 1,296.7% during the third quarter. Barclays PLC now owns 217,190 shares of the semiconductor company's stock valued at $45,079,000 after buying an additional 201,640 shares during the last quarter. Fort Washington Investment Advisors Inc. OH boosted its stake in shares of Onto Innovation by 40.2% during the 4th quarter. Fort Washington Investment Advisors Inc. OH now owns 140,455 shares of the semiconductor company's stock worth $23,410,000 after acquiring an additional 40,290 shares during the last quarter. Finally, Argent Capital Management LLC bought a new stake in shares of Onto Innovation during the 4th quarter valued at $437,000. Institutional investors own 98.35% of the company's stock.

Onto Innovation Stock Up 4.8 %

Shares of NYSE ONTO traded up $5.49 during mid-day trading on Wednesday, reaching $119.70. 361,406 shares of the company were exchanged, compared to its average volume of 791,774. The firm has a 50-day moving average of $133.60 and a 200 day moving average of $167.77. Onto Innovation Inc. has a 1 year low of $98.21 and a 1 year high of $238.93. The stock has a market cap of $5.85 billion, a price-to-earnings ratio of 29.48, a P/E/G ratio of 0.89 and a beta of 1.46.

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

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Benchmark reaffirmed a "buy" rating and issued a $230.00 target price on shares of Onto Innovation in a report on Friday, February 7th. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $250.00 price objective on shares of Onto Innovation in a research note on Friday, February 7th. Stifel Nicolaus cut their price objective on Onto Innovation from $200.00 to $180.00 and set a "buy" rating for the company in a research note on Tuesday, April 15th. Oppenheimer decreased their target price on shares of Onto Innovation from $240.00 to $150.00 and set an "outperform" rating on the stock in a research note on Friday, April 11th. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $230.00 price target on shares of Onto Innovation in a research report on Friday, February 7th. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Onto Innovation presently 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.