topstockalerts
Oct 2, 6:59 PM
RBC Capital Markets initiated coverage of Onto Innovation with an Outperform rating and a
$400 price target, highlighting the company’s advanced packaging and semiconductor metrology businesses. Analyst Srini Pajjuri pointed to Onto’s exposure to fast-growing chip manufacturing technologies, including 2.5D and 3D packaging, High Bandwidth Memory, Chip-on-Wafer-on-Substrate and Embedded Multi-die Interconnect Bridge.
RBC identified Onto’s Dragonfly G5 inspection platform as a key revenue driver through 2027, alongside emerging opportunities in silicon photonics. The company reported record Q2 2026 revenue of
$343 million, up 35% year over year, while its backlog exceeded
$1 billion.
Onto shares benefited from the broader technology rally and traded as high as
$339.04, after opening at
$328.98. The move came as September U.S. payrolls showed only 29,000 jobs added, well below the roughly 84,000 consensus estimate.
$ONTO
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