ON Semiconductor Corporation (NASDAQ:ON) is among the Most Promising Stocks.
On June 29, Cantor Fitzgerald raised its price target on ON Semiconductor Corporation (NASDAQ:ON) to $110 from $100. The firm maintained a “Neutral” rating on the shares. Analyst Matthew Prisco said the AI infrastructure buildout represents a “generational semiconductor cycle” that remains durable. The analyst projected industry revenue could reach roughly $3 trillion by 2029 and potentially exceed $3.5 trillion by 2030.
Earlier, on June 26, Reuters reported that ON Semiconductor Corporation (NASDAQ:ON) agreed to acquire Synaptics in an all-stock deal valued at about $7 billion. It is the company’s largest acquisition. Under the agreement, Synaptics shareholders will receive 1.350 Onsemi shares for each Synaptics share. It represents a 19% premium based on the 10-day volume-weighted average closing prices.
CEO Hassane El-Khoury told Reuters Synaptics’ connected-computing platform would speed up Onsemi’s push into physical AI, and “That combination is going to create a market leader” in the emerging market. Onsemi expects the acquisition to expand its addressable market by $30 billion to $243 billion by 2030.
ON Semiconductor Corporation (NASDAQ:ON) works in intelligent power and sensing solutions with a focus on automotive and industrial markets. It operates through Power Solutions Group, Analog and Mixed-Signal Group, and Intelligent Sensing Group.
While we acknowledge the potential of ON as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.
READ NEXT: 33 Stocks That Should Double in 3 Years and Cathie Wood 2026 Portfolio: 10 Best Stocks to Buy.
Disclosure: None. Follow Insider Monkey on Google News.
