Onto Innovation price target raised to $125 from $118 at Benchmark

Benchmark analyst Mark Miller raised the firm’s price target on Onto Innovation to $125 from $118 and keeps a Buy rating on the shares. While Onto reported “light” Q2 results, this was due to the delay of shipments of three litho tools into Q3, the analyst tells investors. The firm projects Onto’s non-GAAP EPS to grow 33% year-over-year to $5.02 on sales of $949M, the analyst noted.