10 Best High-Bandwidth Memory (HBM4) Value Chain Stocks to Buy According to Hedge Funds

7. Onto Innovation Inc. (NYSE:ONTO)

Number of Hedge Fund Holders: 67

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. This upside is equal to the median estimate from 10 Wall Street analysts covering the stock. However, Oppenheimer has a slightly higher price target of $370, implying 35% upside from here.

Onto Innovation Inc. (NYSE:ONTO) is involved in the manufacturing, development, design, and support of process control tools used in semiconductor production. Its product offerings include lithography systems and process control analytical software & automated and integrated metrology systems.