Oppenheimer raised the firm’s price target on Onto Innovation (ONTO) to $275 from $260 and keeps an Outperform rating on the shares. Onto reported in-line Q3 revenue growth, driven by continued strong demand for Dragonfly, recovery in Advanced Nodes, and record power semiconductors, though tempered by a $10M order push-out for JetStep Lithography, the analyst tells investors in a research note. Onto is conservatively not baking in incremental high bandwidth memory revenue comparable with its strengthening CoWos visibility, the firm says.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See today’s best-performing stocks on TipRanks >>
Read More on ONTO:
- Onto Innovation price target lowered to $230 from $245 at Needham
- Onto Innovation’s Strong Q3 2024 Financial Performance
- Onto Innovation acquires Lumina Instruments
- Onto Innovation reports Q3 EPS $1.34, consensus $1.32
- Onto Innovation sees Q4 EPS $1.33-$1.48, consensus $1.41
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
