“We believe it underscores ON’s confidence in the L-T roadmap as it rides multiple new drivers including ADAS, EV, 5G, server content growth and Wi-Fi. Reiterating our Buy rating and $25 PT. No change to estimates. ON reports earnings Apr-29 before the open.”
According to TipRanks.com, Rakesh is a top 100 analyst with an average return of 23.4% and a 65.2% success rate. Rakesh covers the Consumer Goods sector, focusing on stocks such as Skyworks Solutions, Texas Instruments, and Western Digital.
ON Semi has an analyst consensus of Moderate Buy, with a price target consensus of $25.38, which is a 12.3% upside from current levels. In a report released today, Needham also maintained a Buy rating on the stock with a $27 price target.
Based on ON Semi’s latest earnings release for the quarter ending December 31, the company reported a quarterly net profit of $166 million. In comparison, last year the company had a net profit of $140 million.
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ON Semiconductor Corp. engages in the design, manufacture, and marketing of portfolio of semiconductor components. It operates through the following segments: Power Solutions Group, Analog Solutions Group, and Intelligent Sensing Group.