Wellington Management Group LLP Has $72.47 Million Stock Holdings in Onto Innovation Inc. (NYSE:ONTO)

Wellington Management Group LLP decreased its stake in shares of Onto Innovation Inc. (NYSE:ONTO - Free Report) by 8.1% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 434,806 shares of the semiconductor company's stock after selling 38,448 shares during the period. Wellington Management Group LLP owned 0.88% of Onto Innovation worth $72,469,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Polar Asset Management Partners Inc. boosted its holdings in shares of Onto Innovation by 20.3% during the 4th quarter. Polar Asset Management Partners Inc. now owns 46,200 shares of the semiconductor company's stock worth $7,700,000 after buying an additional 7,800 shares during the period. GTS Securities LLC boosted its holdings in shares of Onto Innovation by 3.9% during the 4th quarter. GTS Securities LLC now owns 6,806 shares of the semiconductor company's stock worth $1,134,000 after buying an additional 253 shares during the period. Palisades Investment Partners LLC boosted its holdings in shares of Onto Innovation by 9.5% during the 4th quarter. Palisades Investment Partners LLC now owns 20,412 shares of the semiconductor company's stock worth $3,402,000 after buying an additional 1,771 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Onto Innovation by 11.9% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 150,084 shares of the semiconductor company's stock worth $25,015,000 after buying an additional 15,961 shares during the period. Finally, Voloridge Investment Management LLC bought a new stake in shares of Onto Innovation during the 4th quarter worth about $3,104,000. Institutional investors own 98.35% of the company's stock.

Analyst Upgrades and Downgrades

ONTO has been the subject of a number of recent research reports. Wall Street Zen raised shares of Onto Innovation from a "sell" rating to a "hold" rating in a report on Saturday, May 17th. Oppenheimer cut their price objective on shares of Onto Innovation from $150.00 to $130.00 and set an "outperform" rating for the company in a report on Friday, May 9th. Cantor Fitzgerald reissued a "neutral" rating and issued a $135.00 price objective (down previously from $250.00) on shares of Onto Innovation in a report on Monday, May 5th. Stifel Nicolaus cut their price objective on shares of Onto Innovation from $200.00 to $180.00 and set a "buy" rating for the company in a report on Tuesday, April 15th. Finally, Benchmark cut their price objective on shares of Onto Innovation from $230.00 to $190.00 and set a "buy" rating for the company in a report on Friday, May 9th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $167.86.

Onto Innovation Stock Down 3.2%

Shares of NYSE:ONTO traded down $3.05 during midday trading on Friday, hitting $91.99. The stock had a trading volume of 1,558,209 shares, compared to its average volume of 936,301. The company's 50-day moving average price is $112.41 and its 200-day moving average price is $150.47. The company has a market capitalization of $4.49 billion, a P/E ratio of 22.66, a price-to-earnings-growth ratio of 0.89 and a beta of 1.55. Onto Innovation Inc. has a fifty-two week low of $85.88 and a fifty-two week high of $238.93.

Onto Innovation (NYSE:ONTO - Get Free Report) last issued its earnings results on Thursday, May 8th. The semiconductor company reported $1.51 EPS for the quarter, beating the consensus estimate of $1.47 by $0.04. The company had revenue of $267.00 million during the quarter, compared to analysts' expectations of $267.03 million. Onto Innovation had a net margin of 20.43% and a return on equity of 14.24%. The business's revenue for the quarter was up 16.5% compared to the same quarter last year. During the same period in the previous year, the company earned $1.18 EPS. Research analysts expect that Onto Innovation Inc. will post 6.26 EPS for the current fiscal year.

Onto Innovation 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.