In a report released today, Mark Miller from Benchmark Co. maintained a Buy rating on Onto Innovation (ONTO – Research Report), with a price target of $190.00.
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Mark Miller has given his Buy rating due to a combination of factors that highlight Onto Innovation’s strong performance and future potential. The company reported impressive first-quarter results with record sales, driven by significant growth in advanced node sales. Despite some anticipated softness in the upcoming quarters, a rebound is expected in 2026, with projected non-GAAP earnings growth of 18% year-over-year.
Additionally, Onto Innovation’s earnings per share exceeded investor expectations, and the company is making strategic moves to mitigate potential tariff impacts by shifting some manufacturing operations to Asia. These factors, along with a revised target price of $190, support the Buy rating, indicating confidence in the company’s long-term growth prospects.
In another report released today, Needham also maintained a Buy rating on the stock with a $150.00 price target.