ON Semiconductor Corporation (NASDAQ:ON) is one of the On May 5, 2026, Roth Capital raised the firm’s price target on ON Semiconductor Corporation (NASDAQ:ON) to $125 from $70 while maintaining a Buy rating.
The firm said Q1 revenue came in ahead of consensus expectations and noted that Q2 guidance points to renewed growth, supported by improving automotive demand and momentum from AI data center program wins
Deutsche Bank also raised its price target on ON Semiconductor Corporation (NASDAQ:ON) to $110 from $75 while maintaining a Buy rating. The firm said the Q1 report suggests the company has reached an inflection point. Similarly, Jefferies raised its price target on ON Semiconductor Corporation (NASDAQ:ON) to $115 from $73 and maintained a Buy rating.
The firm said softness in automotive markets may limit near-term upside, though trends across the broader business are improving. Jefferies also noted that the company’s AI data center business continues to outperform, with newer products driving higher semiconductor content opportunities per XPU deployment. On May 4, 2026, ON Semiconductor Corporation (NASDAQ:ON) reported Q1 non-GAAP EPS of 64c, versus the 62c consensus estimate, while revenue totaled $1.51B compared to expectations of $1.49B.