ON Semiconductor Seals Multi-Year Deal with Volkswagen for Advanced EV Solutions; Stock Gains
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jul 22 2024
0mins
Should l Buy ON?
Source: Benzinga
ON Semiconductor and Volkswagen Partnership: ON Semiconductor has signed a multi-year agreement with Volkswagen Group to supply power solutions for their vehicle lineup, including a new traction inverter that enhances efficiency and EV range through advanced silicon carbide technology.
Market Performance and Analyst Insights: ON Semiconductor shares have risen 3.06% following the announcement, with analysts projecting an average price target of $86.53, indicating a potential upside, while opinions on the stock vary significantly among analysts.
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Analyst Views on ON
Wall Street analysts forecast ON stock price to fall
19 Analyst Rating
9 Buy
10 Hold
0 Sell
Moderate Buy
Current: 102.040
Low
50.00
Averages
61.25
High
80.00
Current: 102.040
Low
50.00
Averages
61.25
High
80.00
About ON
ON Semiconductor Corporation is engaged in providing intelligent power and intelligent sensing solutions. The Company’s intelligent power technologies enable the electrification of drivetrain in the automotive industry to allow for lighter and longer-range electric vehicles. Its segments include Power Solutions Group (PSG), the Analog and Mixed-Signal Group (AMG) and the Intelligent Sensing Group (ISG). PSG segment provides a portfolio of discrete, module, and integrated semiconductor devices designed to enable conversion across artificial intelligence (AI) data centers, energy infrastructure, automotive and industrial. AMG segment designs and develops a range of analog and mixed-signal solutions including power‑management, sensor‑interface, connectivity, and products that serve automotive, industrial automation, AI data center, computing, and mobile end markets.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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