Christopher Rolland, an analyst from Susquehanna, reiterated the Buy rating on ON Semiconductor. The associated price target is $65.00.
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Christopher Rolland has given his Buy rating due to a combination of factors that indicate a positive outlook for ON Semiconductor. The semiconductor industry is showing signs of recovery, with lead times increasing significantly, suggesting a potential upcycle. This is beneficial for ON Semiconductor as it indicates growing demand and a healthier market environment.
Additionally, ON Semiconductor is one of the main beneficiaries of the Nexperia ban, which has led to an increase in pricing for their products. The company’s pricing has risen by 1.4% month-over-month, reflecting improved market dynamics. These factors combined suggest a favorable environment for ON Semiconductor, supporting Christopher Rolland’s Buy rating.
In another report released on November 4, TD Cowen also maintained a Buy rating on the stock with a $60.00 price target.