12 Most Promising EV Battery Stocks to Buy Now

10. ON Semiconductor Corporation (NASDAQ:ON)

ON Semiconductor Corporation (NASDAQ:ON) is one of the most promising stocks. 

TheFly reported on February 13 that Deutsche Bank raised its price target on ON to $75 from $65 and maintained a Buy rating. The firm noted that the company’s Q4 results are improving, albeit gradually.

On February 9, ON Semiconductor Corporation (NASDAQ:ON) released its full-year results and recorded $1.53 billion in revenue for the fourth quarter of 2025. The company’s gross margins for the fourth quarter were 36.0% and 38.2%, with GAAP and non-GAAP operating margins of 13.1% and 19.8%, respectively. GAAP diluted earnings per share were $0.45, while non-GAAP diluted earnings per share were $0.64. Over the course of the year, ON generated $1.8 billion in cash from operations and $1.4 billion in free cash flow, resulting in a record-high free cash flow margin of 24%.

In order to spur growth in automotive, industrial, and AI data center applications, the business emphasized investments in intelligent power and sensor technologies while highlighting operational discipline and stabilization in important markets. Through share repurchases, ON gave back all of its yearly free cash flow to shareholders. It also keeps fortifying its financial base while implementing new technologies.

ON Semiconductor Corporation (NASDAQ:ON) designs and manufactures power and sensing semiconductor solutions. Its products support electric vehicles, industrial automation, renewable energy, and advanced driver-assistance systems, focusing on energy efficiency and high-performance power management.