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Investing.com - Stifel maintained its Hold rating and $117.00 price target on Onto Innovation Inc. (NYSE:ONTO) following the company’s acquisition announcement. The target represents potential upside from the current price of $100.93, with InvestingPro analysis suggesting the stock is currently undervalued.
On Monday, Onto Innovation announced it would acquire several divisions and product lines from Semilab, a privately-held supplier of semiconductor and electronics process control solutions.
The transaction is valued at $545 million and will be structured with approximately 87% cash and 13% equity, according to Stifel analyst Brian Chin’s research note.
The acquisition is scheduled to close in the second half of 2025, pending regulatory approvals from both U.S. and Hungarian authorities.
Stifel’s maintained rating comes as the firm evaluates the strategic implications of this acquisition for Onto Innovation’s market position in the semiconductor process control segment.
In other recent news, Onto Innovation Inc. has entered into a definitive agreement to acquire Semilab International’s materials analysis business for approximately $545 million. This acquisition, which includes $475 million in cash and shares of Onto Innovation common stock, is expected to enhance Onto Innovation’s portfolio and boost earnings per share by more than 10% in the first year post-completion. The deal is projected to close in the second half of 2025, pending regulatory approvals. In addition, Onto Innovation recently appointed Brian Roberts as its new Chief Financial Officer, replacing Mark Slicer. Roberts, who previously served as CFO at Sensata Technologies, will bring extensive financial experience to the company. Shirley Chen was also named as senior vice president of customer success, taking over from Srini Vedula. Analyst firm Benchmark has maintained its buy rating on Onto Innovation, anticipating a rebound in the company’s performance by the fourth quarter of 2025. These developments reflect Onto Innovation’s ongoing efforts to strengthen its leadership and enhance its technological capabilities in the semiconductor industry.
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