ON Semiconductor, the Technology sector company, was revisited by a Wall Street analyst yesterday. Analyst Christopher Rolland from Susquehanna reiterated a Buy rating on the stock and has a $65.00 price target.
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Christopher Rolland has given his Buy rating due to a combination of factors that highlight ON Semiconductor’s promising growth prospects. The company has shown strong performance in the automotive and industrial sectors, with better-than-expected results driven by demand in regions such as the Americas, China, and Japan. Additionally, ON Semiconductor is capitalizing on the growing opportunity in AI infrastructure, with expectations of significant revenue from AI DC power by 2025.
Moreover, the company’s strategic initiatives in expanding its AI power portfolio, including securing design wins and enhancing its product offerings, position it well for future growth. The acquisition of the vCore power portfolio and the development of vertical GaN technology further bolster its capabilities in serving advanced computing needs. Despite some fluctuations in customer programs, the overall demand recovery and improved utilization rates contribute to a positive long-term outlook, supporting the Buy rating.
According to TipRanks, Rolland is a 5-star analyst with an average return of 19.8% and a 58.80% success rate. Rolland covers the Technology sector, focusing on stocks such as ON Semiconductor, Broadcom, and Skyworks Solutions.
In another report released today, TR | OpenAI – 4o also upgraded the stock to a Buy with a $55.00 price target.