Onto Innovation, the Technology sector company, was revisited by a Wall Street analyst yesterday. Analyst Brian Chin from Stifel Nicolaus upgraded the rating on the stock to a Buy and gave it a $350.00 price target.
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Brian Chin has given his Buy rating due to a combination of factors tied to Onto Innovation’s strengthening fundamentals and strategic positioning. He highlights the recent qualification of the Gen5 Dragonfly platform at a leading advanced packaging customer, which his checks indicate is TSMC, resolving prior concerns about Onto’s standing with a key account and confirming that meaningful orders can now proceed.
He also points to multiple growth drivers through 2027, including potential high-volume business with Samsung, TSMC’s investments in next-generation nodes and advanced packaging, and an industry capex upcycle in which he expects Onto’s growth to outpace overall wafer fab equipment spending. On top of higher revenue and earnings forecasts for 2026-27, he underscores that the shares trade at a significant discount to comparable peers despite similar risk-reward, leading him to view the current valuation as misaligned with the company’s outlook and to justify a higher price target alongside the Buy rating.
In another report released on April 13, B. Riley Securities also assigned a Buy rating to the stock with a $310.00 price target.