Onto Innovation price target raised to $270 from $240 at Stifel

Stifel analyst Brian Chin raised the firm’s price target on Onto Innovation (ONTO) to $270 from $240 and keeps a Buy rating on the shares. Discussions at SEMICON West both confirmed, and altered, the firm’s thinking tied to key themes in Semiconductor Capital Equipment, the analyst tells investors. Among the views the meeting confirmed was the firm’s preference for names like Onto and Applied Materials (AMAT) and it is increasing price targets for both, the analyst noted.