ON Semiconductor's Shift from Supplier to Solutions Provider: Analyst Forecasts Earnings Surge and Gross Margin Expansion
Portfolio Pulse from Anusuya Lahiri
Benchmark analyst David Williams reiterates a Buy rating and a $110 price target for ON Semiconductor Corp (NASDAQ:ON), citing the company's transition from supplier to solutions provider. Williams sees a clear path to 55%+ gross margin mid-term and estimates earnings north of $10 in FY27. ON's shares are trading lower by 1.76% at $88.56.
June 20, 2023 | 6:52 pm
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ON Semiconductor's transition to solutions provider is expected to result in a 55%+ gross margin mid-term and earnings north of $10 in FY27, according to Benchmark analyst David Williams.
The article highlights the positive outlook for ON Semiconductor as it transitions from a supplier to a solutions provider. Analyst David Williams reiterates a Buy rating and a $110 price target, citing the company's potential for significant earnings growth and gross margin expansion. This news is likely to have a positive short-term impact on ON's stock price.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 100