Oppenheimer analyst Edward Yang maintains $Onto Innovation (ONTO.US)$ with a buy rating, and maintains the target price at $275.
According to TipRanks data, the analyst has a success rate of 61.1% and a total average return of 5.8% over the past year.
Furthermore, according to the comprehensive report, the opinions of $Onto Innovation (ONTO.US)$'s main analysts recently are as follows:
Onto Innovation reported Q3 revenue growth that met expectations, propelled by the persistent robust demand for Dragonfly, the resurgence of Advanced Nodes, and unprecedented sales of power semiconductors. This was somewhat offset by a $10M order deferral for JetStep Lithography. Onto is cautiously not incorporating additional high bandwidth memory revenue that aligns with the increasing visibility of CoWos, according to the analyst.
Onto Innovation's Q3 outcomes modestly exceeded expectations, and the quarter could have represented a significant outperformance with an upward revision if it weren't for a $10M reduction in lithography shipments. Looking ahead to 2025, Onto's management exhibits the highest optimism for DRAM, with advanced logic and AI packaging also being areas of positive outlook.
Note:
TipRanks, an independent third party, provides analysis data from financial analysts and calculates the Average Returns and Success Rates of the analysts' recommendations. The information presented is not an investment recommendation and is intended for informational purposes only.
Success rate is the number of the analyst's successful ratings, divided by his/her total number of ratings over the past year. A successful rating is one based on if TipRanks' virtual portfolio earned a positive return from the stock. Total average return is the average rate of return that the TipRanks' virtual portfolio has earned over the past year. These portfolios are established based on the analyst's preliminary rating and are adjusted according to the changes in the rating.
TipRanks provides a ranking of each analyst up to 5 stars, which is representative of all recommendations from the analyst. An analyst's past performance is evaluated on a scale of 1 to 5 stars, with more stars indicating better performance. The star level is determined by his/her total success rate and average return.
