Onto Innovation price target raised to $170 from $130 at Cantor Fitzgerald

Cantor Fitzgerald raised the firm’s price target on Onto Innovation (ONTO) to $170 from $130 and keeps a Neutral rating on the shares. The SOX is positioned to lead markets higher after outperforming the S&P by roughly 30 points in CY25, supported by the early stages of the AI era driving demand across compute, networking, memory, and equipment, the analyst tells investors in a research note. While cyclical factors may create mixed signals, the macro backdrop and expected exponential growth in AI infrastructure spending support a long position in the SOX and overweight exposure to AI-related plays into CY26, the firm says.