Stifel Upgrades Onto Innovation to Buy with Higher Price Target Amid Semiconductor Validation
Stifel upgraded Onto Innovation (ONTO) to Buy from Hold, raising its price target to $350 from $220, citing the company's Gen5 Dragonfly system passing TSMC's New Tool Selection Committee for 2.5D advanced packaging. This validation is seen as a critical milestone for Onto Innovation in the AI infrastructure supply chain, with TSMC projecting over 30% growth in 2026.
Topics: AI infrastructure Onto Innovation price target increase semiconductor industry stock upgrade TSMC