B. Riley analyst Craig Ellis raised the firm’s price target on Onto Innovation (ONTO) to $240 from $180 and keeps a Buy rating on the shares. A foundry bellwether’s broadly positive update drove shares up 7% pre-market amid a supportive geopolitical backdrop and expectations for materially higher U.S. semiconductor capex, the analyst tells investors in a research note. Outlooks across semis, semi equipment, and OSATs point to above-consensus 2026 growth on strong AI demand, rising WFE spending toward $120B+, and continued CoWoS capacity tightness benefiting TSMC (TSM) partners, the firm says.
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