Stifel Raises ON Semiconductor Price Target to $60

Stifel analyst Tore Svanberg raised the price target on ON Semiconductor (NASDAQ: ON) to $60.00 (from $50.00) while maintaining a Hold rating.

“We believe onsemi shares will continue to benefit from a pipeline of design wins in growth markets allowing for richer margin expansion.

As one of the dominant players in a large Intelligent Power and Sensing market with a $74bn TAM, we believe onsemi remains well-positioned to achieve revenue growth of 7%-9% CAGR (over next five years), with a highly diversified customer base and exposure in multiple end markets (including its key Automotive / Industrial markets running near its LT target of 80% in 3Q25).

Moreover, while ON has historically exhibited a subpar margin profile, we believe the company’s material business transformation focused on these key end markets and streamlined operational costs has incrementally raised the margin ‘floor’ in downturns, though we acknowledge the material headwinds in CY25E putting pressure on these margins.

(3Q25: NG GMs of 38.0% and NG OMs of 19.2%).”

This research note is reproduced verbatim from the issuing firm. Price Target never edits, paraphrases or alters analysts’ words — we only republish them in one place.