On Semiconductor price target lowered to $85 from $90 at Susquehanna

Susquehanna analyst Christopher Rolland lowered the firm’s price target on On Semiconductor to $85 from $90 and keeps a Positive rating on the shares. The firm said they reported slightly better results, but weaker guidance as most end markets slowed further and while the company was hesitant to call a 2Q bottom, they see growing signs of 2H stabilization.