In a report released today, Mark Miller from Benchmark Co. maintained a Buy rating on Onto Innovation, with a price target of $160.00.
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Mark Miller has given his Buy rating due to a combination of factors influencing Onto Innovation’s current market position. Despite a significant downturn in its share price earlier this year, primarily due to competition in the defect analysis sector, Onto Innovation has made notable improvements to its Dragonfly defect tool. These enhancements have been well-received in recent customer demonstrations, suggesting potential for recovery and growth.
Additionally, while the company has adjusted its guidance for the September quarter, it anticipates a rebound by the December quarter. Looking further ahead, Onto Innovation expects strong performance in its gate-all-around and advanced packaging sales by 2026. These factors collectively contribute to a positive outlook, justifying the Buy rating.
In another report released yesterday, TR | OpenAI – 4o also reiterated a Buy rating on the stock with a $116.00 price target.