B. Riley raises price target on Onto Innovation

Onto Innovation Inc. (ONTO) reported strong Q1 results, driving a price target increase from B. Riley.

On April 16, 2026, B. Riley analyst Craig Ellis raised the price target on Onto Innovation Inc. (NYSE:ONTO) to $330 from $310, following the company's positive Q1 pre-announcement. ONTO reported revenue of $292 million, a 10% sequential gain, and EPS of $1.42, beating expectations by $0.04. The company guided for Q2 revenue and EPS midpoint of $325 million and $1.69, respectively.

This positive earnings report and increased guidance have pushed ONTO shares higher, with institutional investors taking note. The semiconductor industry, where ONTO operates, has seen a boost in demand, benefiting companies like ONTO.

Investors should watch ONTO's Q2 earnings release and any further updates on its guidance. The company's ability to maintain or beat its guidance will likely drive the next phase of this narrative. Additionally, any changes in the broader semiconductor industry dynamics, such as shifts in demand or supply chain disruptions, could impact ONTO's stock performance.