ON Semiconductor Corporation

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Bullish +75

9 Best American Semiconductor Stocks to Buy According to Analysts

AI-generated analysis

📈 Roth Capital raised its price target on ON Semiconductor to $125 from $70 while maintaining a Buy rating following Q1 results.

📈 Deutsche Bank increased its price target on ON to $110 from $75, citing that the Q1 report suggests the company has reached an inflection point.

📈 Jefferies raised its price target on ON to $115 from $73, noting that while automotive softness may limit near-term upside, broader trends are improving.

💰 ON Semiconductor reported Q1 non-GAAP EPS of 64 cents versus the 62 cent consensus estimate.

📊 Revenue for ON Semiconductor totaled $1.51 billion compared to expectations of $1.49 billion in the first quarter.

🚀 The company's AI data center business accelerated during the quarter, growing more than 30% sequentially.

🔋 CEO Hassane El-Khoury stated that ON has moved beyond the cyclical trough and is now entering a recovery phase.

💡 Newer products are driving higher semiconductor content opportunities per XPU deployment in the AI data center sector.

Bullish Signals
  • Roth Capital raised its price target on ON Semiconductor to $125 from $70 while maintaining a Buy rating following Q1 results.
  • Deutsche Bank increased its price target on ON to $110 from $75, citing that the Q1 report suggests the company has reached an inflection point.
  • Jefferies raised its price target on ON to $115 from $73, noting that while automotive softness may limit near-term upside, broader trends are improving.
  • ON Semiconductor reported Q1 non-GAAP EPS of 64 cents versus the 62 cent consensus estimate.
  • Revenue for ON Semiconductor totaled $1.51 billion compared to expectations of $1.49 billion in the first quarter.
  • The company's AI data center business accelerated during the quarter, growing more than 30% sequentially.
  • CEO Hassane El-Khoury stated that ON has moved beyond the cyclical trough and is now entering a recovery phase.
  • Newer products are driving higher semiconductor content opportunities per XPU deployment in the AI data center sector.
Full Analysis
The article highlights ON Semiconductor Corporation (NASDAQ:ON) as a top pick among American semiconductor stocks, citing recent analyst upgrades and strong financial performance. On May 5, 2026, Roth Capital raised its price target on ON to $125 from $70, while Deutsche Bank and Jefferies also increased their targets to $110 and $115 respectively, maintaining Buy ratings. ON Semiconductor reported Q1 non-GAAP EPS of 64 cents, beating the consensus estimate of 62 cents, with revenue reaching $1.51 billion against expectations of $1.49 billion. CEO Hassane El-Khoury noted that the company has moved beyond the cyclical trough and is entering a recovery phase, driven by strengthening demand across automotive, industrial, and AI data center applications. Specifically, the company's AI data center business accelerated during the quarter with growth exceeding 30% sequentially. Management highlighted that newer products are driving higher semiconductor content opportunities per XPU deployment. Analysts view these developments as evidence that ON has reached an inflection point, supported by improving automotive demand and momentum from AI data center program wins.