ON Semiconductor Corporation (NASDAQ:ON) is among the 10 Best EV Stocks to Invest In According to Hedge Funds.
On June 9, Wells Fargo raised its price target on ON Semiconductor Corporation (NASDAQ:ON) to $140 from $115. The analyst maintained an “Overweight” rating on the shares. It also noted the emergence of “physical AI,” pointing to humanoid robotics as a potential long-term growth driver for analog and mixed signal chipmakers. The firm estimated a $1.6 billion semiconductor opportunity by 2030 linked to that trend.
That same day, ON Semiconductor Corporation (NASDAQ:ON) announced the launch of GaNEXUS. It is a gallium nitride power portfolio designed to improve efficiency and power density across artificial intelligence data centers, robotics, and energy infrastructure applications. The company said its GaNEXUS FETs, from 40V to 650V, are now sampling and include integrated protection features to simplify system integration and improve reliability.
The corporation stated that the platform delivers faster switching speeds, lower losses, and high thermal performance. When paired with its Treo platform, it enables more solid system-level power solutions.
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ON Semiconductor Corporation (NASDAQ:ON) works in the provision of intelligent power and sensing solutions with a primary focus on automotive and industrial markets. It operates through Power Solutions Group, Analog and Mixed-Signal Group, and Intelligent Sensing Group segments.
While we acknowledge the risk and potential of ON as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than ON and that has 10,000% upside potential, check out our report about the cheapest AI stock.
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