Needham raised the firm’s price target on Onto Innovation (ONTO) to $260 from $200 and keeps a Buy rating on the shares. Commentary from the Needham Growth Conference pointed to broad-based demand improvement over the past 90 days, supporting a bullish sector outlook, the analyst tells investors in a research note. Despite strong year-to-date performance, the direction for semicap remains positive, with Q4 earnings expected to deliver multiple catalysts, the firm says.
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