Onto Innovation's (ONTO) Glass Suite to Boost Panel Portfolio

Industry Overview - The AICS market is rapidly evolving, with challenges in organic substrate redistribution layers (RDLs) using copper clad laminate (CCL) below 3µm, leading manufacturers to adopt glass as a more stable substrate [1] - The AICS market is projected to grow at a compound annual growth rate (CAGR) of 10% from 2023 to 2028 [7] Company Developments - Onto Innovation (ONTO) has launched a glass substrate suite that includes the JetStep X500 panel-level packaging lithography system and the Firefly G3 sub-micron automatic metrology and inspection system, aimed at meeting the demands of the advanced IC substrates market [7] - The Firefly G3 system utilizes Onto's patented Clearfield technology and unique 3D metrology sensors to address critical challenges such as cracks, chips, and TGV metrology for vias [5] - The company is experiencing strong demand across various end markets and has accelerated the adoption of its Dragonfly platforms, with a new sub-surface inspection capability launched in April 2024 [6] Financial Performance - Onto Innovation has a Zacks Rank 1 (Strong Buy) and its stock has increased by 119% over the past year, outperforming the industry growth of 103.6% [3] - The company has delivered a trailing four-quarter average earnings surprise of 7.54% and has a long-term growth expectation of 9.47% [4]