ON Semiconductor Well Positioned For Cyclical Recovery: Analyst
ONON Semiconductor(ON) Benzinga·2024-06-14 01:46

Loading... Loading... Needham analyst Quinn Bolton reiterated ON Semiconductor Corp ON with a Buy rating and a $92 price target. The analyst hosted a virtual NDR with Thad Trent, CFO, and Parag Agarwal, VP of IR and Corporate Development, and came incrementally bullish towards ON shares ahead of the anticipated cyclical recovery. Bolton said cancellations and pushouts peaked late last year and have returned to normal. The company has seen stabilization in its traditional industrial business, which was first ...