ON Semiconductor Shares Climb After Citi Highlights Potential Upside Ahead of Analyst Day (ON) - Yahoo Finance

ON Semiconductor (ON) stock rose 5% following Citibank's upgrade of its price target to $120 from $100, while placing the stock on its Upside Catalyst Watch list ahead of its September Analyst Day. Th... Read original →

Citi’s upgrade of ON Semiconductor reflects a structural shift in power electronics, where 800V architectures and silicon carbide (SiC) are converging to redefine power delivery in data centers and EVs. This synergy is forcing upstream substrate suppliers to scale while pushing downstream designs toward hybrid GaN/SiC modules. Tightening U.S. export controls on wide-bandgap semiconductors may raise ON’s offshore supply chain complexity, yet its manufacturing footprint in the Czech Republic and Malaysia already mitigates geopolitical exposure. Competitors like Infineon and STMicroelectronics will likely accelerate SiC capacity to counter ON’s growing pricing power in automotive. If the Treo platform demonstrates compelling efficiency gains at the Analyst Day, it could trigger a wave of Tier 1 adoption, locking in design wins and widening the technology gap with second-tier players over the next 18 months.