ON Semiconductor Soars 5.79% on Analyst Upgrades, Earnings Beat

On Semiconductor (ON) shares rose 0.27% today, marking the second consecutive day of gains, with a total increase of 5.79% over the past two days. The stock price reached its highest level since January 2025, with an intraday gain of 1.32%.

On June 17th, Roth Capital reaffirmed its "buy" rating for ON Semiconductor and increased its target price to $70.00 from $50.00. This move reflects a positive outlook on the company's future performance and potential for growth. Additionally, KeyBanc issued a new buy recommendation with a $65 price target, further bolstering investor confidence in the stock.

Loop Capital also raised its price target for ON Semiconductor to $68.00 from $55.00, maintaining a Buy rating. This adjustment comes as part of a broader trend of increased optimism among analysts regarding the company's prospects. The price target was raised to $65.00 USD from $50.00 USD, reflecting a 30.00% increase, which underscores the growing enthusiasm for the stock.

Despite the positive sentiment, there are some cautionary notes. The stock surged 80%, but analysts have highlighted risks from supplier earnings and EV demand, leading to a recommendation to sell the stock. This suggests that while there is significant potential for growth, investors should be mindful of external factors that could impact the company's performance.

Regents Gate Capital LLP invested $6.83 million in ON Semiconductor, and the company reported $0.55 EPS for the quarter, beating the consensus estimate of $0.51. This strong financial performance has likely contributed to the recent surge in the stock price and the positive recommendations from analysts.