ONTO Price Target Set at $350 Amid Strong Revenue Growth Projections

AI Summary

Onto Innovation Inc. (ONTO) has received a Buy rating from Stifel with a price target of $350, as of June 4. The company's advanced packaging inspection revenue is projected to grow by over 50%, while overall revenue is expected to increase by more than 30%. Significant qualification of Dragonfly inspection tools by two major customers is anticipated to expedite their adoption. This faster qualification is viewed as a potential catalyst for positive performance in the latter half of the year.