Analyst Christopher Rolland of Susquehanna reiterated a Buy rating on ON Semiconductor, with a price target of $65.00.
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Christopher Rolland’s rating is based on the observation of increasing lead-times (LTs) across the semiconductor industry, which suggests a strengthening recovery. The consistent rise in LTs, particularly for Analog semiconductors, indicates robust demand and potential growth opportunities for companies like ON Semiconductor. Additionally, the broad-based increase in LTs across various product categories highlights a positive trend in the market, further supporting a Buy rating.
Rolland also notes that despite a slight decline in industry pricing, the overall pricing environment is stabilizing after previous fluctuations. This stabilization, coupled with the upward trend in LTs, positions ON Semiconductor favorably in the current market landscape. The combination of these factors underpins Rolland’s confidence in the stock’s potential for appreciation, justifying the Buy recommendation.
Rolland covers the Technology sector, focusing on stocks such as ON Semiconductor, Advanced Micro Devices, and Skyworks Solutions. According to TipRanks, Rolland has an average return of 21.6% and a 59.32% success rate on recommended stocks.
In another report released on December 9, TR | OpenAI – 4o also reiterated a Buy rating on the stock with a $61.00 price target.