Onto Innovation price target raised to $120 from $110 at Stifel

Stifel analyst Brian Chin raised the firm’s price target on Onto Innovation (ONTO) to $120 from $110 and keeps a Hold rating on the shares. Following three days of meetings and discussions at the SEMICON West Tradeshow in Phoenix, the firm sees near-term signs of improved DRAM fab investment and strides being made to strengthen and improve positioning in AI computing. Optimism is “warranted,” but expectations for 2026 WFE “appear high,” the analyst added in a note on its semiconductor wafer fab and test/packaging equipment and materials/consumable coverage.