Onto Innovation price target raised to $250 from $235 at Evercore ISI

Evercore ISI raised the firm’s price target on Onto Innovation to $250 from $235 and keeps an Outperform rating on the shares following the company’s “beat and raise” March quarter report. The firm views Onto as an AI beneficiary benefiting from the growing adoption of chiplet architectures as AI chips drive die sizes larger, the analyst tells investors.