ON Semiconductor Corporation is strengthening its growth outlook through an extended partnership with FORVIA HELLA and innovative product developments in intelligent power solutions. Analysts at Evercore ISI have raised their price target for the company from $68 to $80, reflecting optimism about its potential performance. Despite facing a 13.9% drop in annual sales and a significant year-over-year EPS decline, ON Semiconductor is projecting revenues of $7.5 billion and earnings of $1.9 billion by 2028, supported by a collaboration with GlobalFoundries on advanced gallium nitride products.
“ON Semiconductor · is based on · two ideas: key end markets for its intelligent power and sensing chips are electric vehicles and the industrial sector · true”