Onto Innovation price target raised to $150 from $135 at Stifel

Stifel raised the firm’s price target on Onto Innovation to $150 from $135 and keeps a Buy rating on the shares. The company’s Q3 revenue was at the low-end of its guidance range due to delays in the shipment of X4500 panel lithography system, but better GMs drove EPS slightly above the midpoint guidance, the analyst ells investors. Since the company’s last update, Dragonfly orders have nearly doubled, which reflects the strong AI-driven demand for advanced packaging, the firm says