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Technology Stocks : Semi Equipment Analysis

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From: Julius Wong	5/9/2025 6:46:11 PM
	1 Recommendation Recommended By Return to Sender of 95411

Chip stocks in focus as Onto Innovation, Wolfspeed plunge after earnings May 09, 2025 8:53 AM ET By: Chris Ciaccia, SA News Editor Semiconductor stocks were in focus on Friday after a handful of companies in the sector reported quarterly results, including Onto Innovation (NYSE: ONTO) and Wolfspeed (NYSE: WOLF). Onto Innovation shares tumbled nearly 14% in premarket trading after the company reported better-than-expected first-quarter results, but analysts expressed concern about its guidance and the impact of tariffs. Investment firm Stifel downgraded Onto to Hold from Buy and cut its price target to $117 following the results. Benchmark also lowered its price target to $190 from $230 after the results. Wolfspeed shares crashed nearly 20% after it reported third-quarter results and saw a pair of downgrades from Citi and J.P. Morgan. Citi cut its rating to Sell and lowered its price target to $3, while J.P. Morgan cut its rating to Underweight from Neutral. Piper Sandler was also negative on the Durham, N.C.-based company and lowered its price target to $6 from $10. Applied Optoelectronics ( AAOI) shares fell 2.4% after the company issued a weaker-than-expected forecast for the second-quarter that overshadowed its first-quarter results. Synaptics ( SYNA) shares rose 0.3% in premarket trading after its third-quarter results topped estimates and issued a forecast for the coming quarter that was largely in-line with expectations. Elsewhere in the sector, Alpha & Omega ( AOSL) had its price target cut at Benchmark to $32 from $42, while MKS Instruments had a couple of price target cuts (Mizuho and Deutsche Bank) despite reporting better-than-expected results earlier this week.

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