BofA lowered the firm’s price target on On Semi (ON) to $46 from $48 and keeps a Buy rating on the shares. Following the company’s Q1 report and Q2 guidance, the firm lowered its calendar year 2025 and 2026 EPS estimates by 7% and 21% to $2.27 and $2.75, respectively. Competitive headwinds are putting downward pressure on gross margin and upward pressure on operating expenses, the analyst tells investors in a post-earnings note.
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