Jefferies raised the firm’s price target on Onto Innovation (ONTO) to $300 from $200 and keeps a Buy rating on the shares. Orders are flowing in, with backlog doubling in the quarter to half a year of revenue, notes the analyst, who adds that good line of sight to growth starting in the second quarter helps derisk the story.
Claim 55% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on ONTO:
- Onto Innovation reports Q4 EPS $1.26, consensus $1.26
- Onto Innovation sees Q1 EPS $1.26-$1.36, consensus $1.30
- Onto Innovation price target raised to $250 from $230 at Evercore ISI
- Onto Innovation price target raised to $215 from $180 at Stifel
- QTUM Gains on Semiconductor Boom, But TipRanks AI Analyst Keeps a Neutral Rating