Mizuho Raises ON Semiconductor Price Target to $150
Mizuho analyst Vijay Rakesh raised the price target on ON Semiconductor (NASDAQ: ON) to $150.00 (from $130.00) while maintaining a Outperform rating.
“Reiterate ON at Outperform, raise PT to $150 from $130, 32x our F27E EPS (prior: 28x), as we see ON benefiting from AI server ramps, both agentic AI and training/inference, as it ramps its 800V architecture with additional tailwinds from industrial ramps as inventories appear to be at normalized levels, we believe offsetting any near-term headwinds from slower LVP.
We note demand improving as lead times for some products have extended to 40+ weeks as capacity remains tight for some components, including AI server MOSFETs, while Nexperia headwinds continue to benefit ON in the near-term.”
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