Onto Innovation price target lowered to $190 from $230 at Benchmark

Benchmark analyst Mark Miller lowered the firm’s price target on Onto Innovation (ONTO) to $190 from $230 and keeps a Buy rating on the shares. Onto posted “upside results,” including non-GAAP EPS of $1.51 that were 3c above investor expectations and March quarter record sales of $267M. However, some softening is expected with Q3 being the low point, after which a rebound is expected, the analyst noted. The firm sees “a strong 2026,” where it projects non-GAAP EPS growing by 18% to $6.53, the analyst added.