GOPALSWAMY SUDHIR sold $1.2M of ON

StoneX initiated coverage of ON Semiconductor (ON) with a Buy rating and a $110 price target, citing strong demand in automotive and AI data center markets. The stock is trading at $73.36, 17.7% above its GF Value™ of $62.35, indicating modest overvaluation. ON has a GF Score™ of 86/100, reflecting solid financial health and growth prospects.

StoneX initiated coverage of ON Semiconductor (ON) with a Buy rating, citing potential benefits from semiconductor demand recovery and growth in automotive and AI data center power systems. The stock is down 3% in premarket trading.

Onsemi (ON) guided Q3 revenue between $1.65B and $1.75B, up from $1.6B in Q2. StoneX initiated coverage with a bullish outlook, suggesting nearly 50% upside. Retail sentiment on Stocktwits is 'extremely bearish,' despite a 29% year-to-date rally for ON shares, compared to a 65% rise in the iShares Semiconductor ETF (SOXX).

StoneX initiated coverage on ON Semiconductor (NASDAQ:ON) with a Buy rating and $110 price target, citing chip cycle strength and potential margin expansion. The target assumes 16x fiscal 2028 EPS, including Synaptics acquisition benefits. ON Semiconductor is acquiring Synaptics for $123 per share, valuing the deal at $5.7B. Analysts have mixed views, with price targets ranging from $75 to $150.

Cirrus Logic (CRUS) confirmed it made takeover offers for Synaptics (SYNA) but is no longer pursuing a transaction. This follows Onsemi's (ON) $5.7B all-cash deal for Synaptics at $123 per share.

ON Semiconductor raised its 2026-2030 revenue growth target to 12%-14% from 10%-12%, citing demand in AI, EVs, and industrial systems. The company projects 2030 revenue of $6.5B, with AI data-center semiconductors growing 50% annually. It expects $213B addressable market by 2030 and margins of 53% gross, 38% operating, and 30%-35% free cash flow. ON Semiconductor invested $8.7B over five years and agreed to acquire Synaptics for $5.7B.