Onto Innovation Inc. (NYSE:ONTO) is one of the 10 Best High-Bandwidth Memory (HBM4) Value Chain Stocks to Buy According to Hedge Funds.
On June 5, Deutsche Bank reiterated its Buy rating on Onto Innovation Inc. (NYSE:ONTO) with a price target of $350
The firm believes that strong demand for chip manufacturing equipment, as a result of high memory bandwidth demand, is supporting the company’s growth. The analyst also expects a significant expansion in semiconductor factory construction over the coming years. Through acquisitions and market share improvements, the company is doing a good job of keeping competitors at bay.
In the first week of June, two more analysts, including Stifel Nicolaus and Oppenheimer, reaffirmed their ratings and price targets on the stock. On June 4, Brian Chin of Stifel Nicolaus reaffirmed a Buy rating on Onto Innovation Inc. (NYSE:ONTO) and assigned a price target of $350. The firm’s price target suggests approximately 27% upside from the current levels.