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

Guggenheim Capital LLC cut its stake in shares of Onto Innovation Inc. (NYSE:ONTO) by 40.1% during the 4th quarter, Holdings Channel reports. The institutional investor owned 6,559 shares of the semiconductor company’s stock after selling 4,396 shares during the quarter. Guggenheim Capital LLC’s holdings in Onto Innovation were worth $1,093,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Kestra Investment Management LLC bought a new stake in Onto Innovation in the fourth quarter valued at approximately $26,000. Mather Group LLC. lifted its position 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 worth $27,000 after purchasing an additional 111 shares during the period. Versant Capital Management Inc boosted 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 last quarter. SBI Securities Co. Ltd. acquired a new stake in shares of Onto Innovation during the fourth quarter worth $43,000. Finally, Aster Capital Management DIFC Ltd bought a new position in Onto Innovation during the fourth quarter worth $47,000. Institutional investors and hedge funds own 98.35% of the company’s stock.

Onto Innovation Stock Performance

NYSE:ONTO opened at $114.16 on Wednesday. Onto Innovation Inc. has a 52 week low of $98.21 and a 52 week high of $238.93. The firm has a 50-day moving average price of $133.60 and a two-hundred day moving average price of $167.77. The firm has a market cap of $5.58 billion, a price-to-earnings ratio of 28.12, a price-to-earnings-growth ratio of 0.89 and a beta of 1.46.

Onto Innovation (NYSE:ONTO) last issued its quarterly earnings results on Thursday, February 6th. The semiconductor company reported $1.51 earnings per share for the quarter, topping analysts’ consensus estimates of $1.41 by $0.10. Onto Innovation had a net margin of 20.43% and a return on equity of 14.24%. As a group, sell-side analysts forecast that Onto Innovation Inc. will post 6.26 earnings per share for the current year.

Wall Street Analysts Forecast Growth

ONTO has been the topic of a number of research analyst reports. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $250.00 price target on shares of Onto Innovation in a research report on Friday, February 7th. Jefferies Financial Group cut their target price on Onto Innovation from $245.00 to $175.00 and set a “buy” rating on the stock in a research report on Friday, March 28th. StockNews.com upgraded Onto Innovation from a “sell” rating to a “hold” rating in a report on Thursday, February 27th. Needham & Company LLC reaffirmed a “buy” rating and set a $230.00 price objective on shares of Onto Innovation in a research report on Friday, February 7th. Finally, Benchmark reiterated a “buy” rating and set a $230.00 target price on shares of Onto Innovation in a research report on Friday, February 7th. One 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, the company currently has a consensus rating of “Moderate Buy” and an average price target 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.