Cantor Fitzgerald Raises Price Target on ON Semiconductor Corporation (ON)

ON Semiconductor Corporation (NASDAQ:ON) is among the Most Promising Stocks.

On June 29, Cantor Fitzgerald raised its price target on ON Semiconductor Corporation (NASDAQ:ON)  to $110 from $100. The firm maintained a “Neutral” rating on the shares. Analyst Matthew Prisco said the AI infrastructure buildout represents a “generational semiconductor cycle” that remains durable. The analyst projected industry revenue could reach roughly $3 trillion by 2029 and potentially exceed $3.5 trillion by 2030.

Earlier, on June 26, Reuters reported that ON Semiconductor Corporation (NASDAQ:ON) agreed to acquire Synaptics in an all-stock deal valued at about $7 billion. It is the company’s largest acquisition. Under the agreement, Synaptics shareholders will receive 1.350 Onsemi shares for each Synaptics share. It represents a 19% premium based on the 10-day volume-weighted average closing prices.

CEO Hassane El-Khoury told Reuters Synaptics’ connected-computing platform would speed up Onsemi’s push into physical AI, and “That combination is going to create a market leader” in the emerging market. Onsemi expects the acquisition to expand its addressable market by $30 billion to $243 billion by 2030.

ON Semiconductor Corporation (NASDAQ:ON) works in intelligent power and sensing solutions with a focus on automotive and industrial markets. It operates through Power Solutions Group, Analog and Mixed-Signal Group, and Intelligent Sensing Group.

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