Bridgewater Associates LP Has $6.28 Million Stock Holdings in Onto Innovation Inc. (NYSE:ONTO)

Bridgewater Associates LP lessened its holdings in Onto Innovation Inc. (NYSE:ONTO - Free Report) by 13.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 37,666 shares of the semiconductor company's stock after selling 5,679 shares during the quarter. Bridgewater Associates LP owned 0.08% of Onto Innovation worth $6,278,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of ONTO. Norges Bank bought a new stake in shares of Onto Innovation in the 4th quarter worth about $87,987,000. Artisan Partners Limited Partnership grew its holdings in shares of 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 during the last quarter. Massachusetts Financial Services Co. MA grew its holdings in shares of Onto Innovation by 72.2% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 870,250 shares of the semiconductor company's stock worth $145,045,000 after purchasing an additional 364,853 shares during the last quarter. Invesco Ltd. grew its holdings in shares of Onto Innovation by 33.9% in 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 during the last quarter. Finally, Franklin Resources Inc. grew its holdings in shares of Onto Innovation by 21.2% in the 4th quarter. Franklin Resources Inc. now owns 1,553,271 shares of the semiconductor company's stock worth $258,883,000 after purchasing an additional 271,470 shares during the last quarter. Institutional investors own 98.35% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on ONTO shares. Stifel Nicolaus decreased their price objective on shares of Onto Innovation from $200.00 to $180.00 and set a "buy" rating on the stock in a report on Tuesday, April 15th. StockNews.com raised shares of Onto Innovation from a "sell" rating to a "hold" rating in a report on Thursday, February 27th. Oppenheimer decreased their price objective on shares of Onto Innovation from $240.00 to $150.00 and set an "outperform" rating on the stock in a 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 report on Friday, February 7th. Finally, Cantor Fitzgerald reissued an "overweight" rating and set a $250.00 price objective on shares of Onto Innovation in a report on Friday, February 7th. One analyst has rated the stock with a hold rating and eight have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $218.13.

Onto Innovation Stock Performance

Onto Innovation stock traded up $6.37 during trading hours on Wednesday, reaching $120.58. 346,765 shares of the company's stock traded hands, compared to its average volume of 1,050,651. Onto Innovation Inc. has a fifty-two week low of $98.21 and a fifty-two week high of $238.93. The firm has a market capitalization of $5.89 billion, a price-to-earnings ratio of 29.70, a PEG ratio of 0.89 and a beta of 1.46. The firm's 50 day moving average is $133.60 and its 200-day moving average is $167.77.

Onto Innovation (NYSE:ONTO - Get Free Report) last announced its quarterly earnings results on Thursday, February 6th. The semiconductor company reported $1.51 earnings per share for the quarter, beating 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%. Analysts predict that Onto Innovation Inc. will post 6.26 EPS for the current year.

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.