Onto Innovation price target raised to $180 from $130 at Oppenheimer

Oppenheimer raised the firm’s price target on Onto Innovation (ONTO) to $180 from $130 and keeps an Outperform rating on the shares. The firm notes Onto amended its proposed acquisition of Semilab assets to streamline antitrust review, removing the EIR product and trimming the deal price by 10%. Oppenheimer views this as a smart, pragmatic adjustment that avoids regulatory delay while preserving the core rationale. Management also reaffirmed Q3 guidance.