Freedom Broker Starts Onto Innovation Inc. (ONTO) at Buy
Freedom Broker analyst Nazerke Baimukan initiates coverage on Onto Innovation Inc. (NYSE: ONTO) with a Buy rating and a price target of $370.00.
The analyst comments "We initiate coverage on Onto Innovation Inc. (NYSE: ONTO) with a “Buy” rating and a $370 price target. Onto is a leading semiconductor process control vendor with exposure to advanced packaging inspection and lithography, advancednode metrology, specialty and software applications, serving major foundry, memory and OSAT customers globally. The company is entering a structural growth phase, supported by AIdriven advanced packaging demand, rising metrology intensity at leading-edge nodes and portfolio expansion through the Semilab acquisition and pending Rigaku equity investment."
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Shares of Onto Innovation Inc. closed at $316.15 yesterday.