Onto Innovation gains after receiving orders over $100 mln

Onto Innovation

29/08/2023 17:24

** Shares of semiconductor firm Onto Innovation  ONTO.N 
rise 14.7% to $130.99 
    ** Stock hits all-time high 
    ** Co says it has finalized over $100 mln in orders for
systems supporting advanced packaging for artificial
intelligence (AI) 
    ** Says deliveries for its Dragonfly G3 systems are
scheduled through Q1 2024
    ** Adds ONTO expects additional orders in 2024 to support
expansions in the AI graphics processor market
    ** Including the session's gains, stock is up ~92% YTD 

 (Reporting by Sourasis Bose in Bengaluru)
 ((Sourasis.bose@thomsonreuters.com))