What the analyst said

Morgan Stanley analyst Joseph Moore raised the price target on ON Semiconductor (NASDAQ: ON) to $85.00 (from $64.00) while maintaining an Equalweight rating.

“With ON +82% YTD and almost 20% over the L5D, it’s clear that expectations have meaningfully come up since last quarter, which was an overall in-line print.

Following the positive analog prints over the last week, a better-than-feared auto backdrop, and improving power demand, we do believe upward estimate revisions are in the cards, though we see the largest delta as weighted toward 2H, with LT visibility still uncertain.

Additionally, we are raising our PT multiple from 15x to 20x, a premium to ON’s historical average of 15x driven by the analog/cyclical acceleration and greater exposure to diversified power markets, yielding a PT increase from $64 to $85.”

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Where the price stands

ON trades at $70.11. The 10 analysts who set a target in the last 3 months range from $58 to $120, with a median of $92.50. This $85 target is 8% below the median.

Since the note ON has moved −29% (from $98.40). 12-month window: day 189 of 365, closes on April 27, 2027.

Track record

This call✓ Target reached on July 28, 2026, 3 months after the note.

Firm track recordMorgan Stanley: 81% of its 48 targets at least a year old were reached within 12 months (#9 of 26 firms). Accuracy ranking →

Morgan Stanley on ON Semiconductor

Morgan Stanley price targets on ON Semiconductor

3 calls from February 9, 2026 to May 5, 2026. The target went from $64 to $87 (+36%).

Morgan Stanley targetON share price
  1. May 5, 2026Target raised from $85 (+2%)$87
  2. April 27, 2026 This noteTarget raised from $64 (+33%)$85
  3. February 9, 2026Earliest call shown$64
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Other analysts on ON Semiconductor

B RileyBuy Cut price target −17%, kept rating Oct 22 $105from $127 SusquehannaBuy Cut price target −20%, kept rating Oct 21 $120from $150 TD CowenHold Cut price target −21%, kept rating Oct 19 $75from $95 StoneXBuy Initiated coverage Oct 15 $110 StifelHold Raised price target +7%, kept rating Oct 5 $80from $75
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Price Target is an archive of Wall Street analyst research, published for informational purposes only. Nothing on this site is investment advice, a recommendation, or an offer to buy or sell any security. Analyst ratings and price targets are the opinions of the issuing firms, not of Price Target. Always do your own research or consult a licensed financial adviser.