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Analysts Are Bullish on Top Technology Stocks: ON Semiconductor (ON), Raytheon Technologies (RTX)

There’s a lot to be optimistic about in the Technology sector as 3 analysts just weighed in on ON Semiconductor (ONResearch Report), Raytheon Technologies (RTXResearch Report) and Varonis Systems (VRNSResearch Report) with bullish sentiments.

ON Semiconductor (ON)

In a report released yesterday, Mark Lipacis from Jefferies reiterated a Buy rating on ON Semiconductor, with a price target of $75.00. The company’s shares closed last Monday at $62.26.

According to TipRanks.com, Lipacis is a top 25 analyst with an average return of 32.2% and a 72.9% success rate. Lipacis covers the Technology sector, focusing on stocks such as Advanced Micro Devices, GlobalFoundries Inc., and Tower Semiconductor.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for ON Semiconductor with a $72.80 average price target, which is a 21.6% upside from current levels. In a report released today, KeyBanc also maintained a Buy rating on the stock with a $80.00 price target.

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Raytheon Technologies (RTX)

In a report released yesterday, Sheila Kahyaoglu from Jefferies maintained a Buy rating on Raytheon Technologies, with a price target of $105.00. The company’s shares closed last Monday at $94.03, close to its 52-week high of $94.73.

According to TipRanks.com, Kahyaoglu is a 4-star analyst with an average return of 6.4% and a 57.9% success rate. Kahyaoglu covers the Technology sector, focusing on stocks such as Aerojet Rocketdyne Holdings, L3Harris Technologies, and Science Applications.

Currently, the analyst consensus on Raytheon Technologies is a Strong Buy with an average price target of $107.00, a 14.5% upside from current levels. In a report issued on January 26, Robert W. Baird also maintained a Buy rating on the stock with a $106.00 price target.

Varonis Systems (VRNS)

Varonis Systems received a Buy rating and a $65.00 price target from Jefferies analyst Brent Thill today. The company’s shares closed last Monday at $37.96, close to its 52-week low of $32.11.

According to TipRanks.com, Thill is a 5-star analyst with an average return of 12.2% and a 45.9% success rate. Thill covers the Technology sector, focusing on stocks such as SailPoint Technologies Holdings, Palantir Technologies, and Zillow Group Class C.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Varonis Systems with a $58.67 average price target, representing a 56.2% upside. In a report issued on January 24, Citigroup also initiated coverage with a Buy rating on the stock with a $47.00 price target.

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