ON Semiconductor stock jumps as Citi adds to upside Catalyst Watch list - Investing.com

ON Semiconductor's stock experienced a significant surge following Citigroup's inclusion of the company on its Catalyst Watch list. This move indicates market optimism regarding ON Semiconductor's fut... Read original →

Citi’s inclusion of ON Semiconductor on its Catalyst Watch list signals more than a rating bump—it reflects a structural re-rating of power semiconductors amid surging AI infrastructure and EV adoption. ON’s silicon carbide (SiC) platforms, already qualified by Tesla and BYD, are forcing Infineon and STMicroelectronics to accelerate 8-inch SiC ramp-ups, reshuffling equipment orders from Applied Materials. While U.S. export controls increase logistics costs for its packaging facilities in Taiwan, China, and Malaysia, ON’s new Mexico fab mitigates supply chain exposure and strengthens North American customer lock-in. Over the next 12–24 months, as industrial and automotive chip inventories normalize, ON’s IDM model will likely capture over 5% incremental share in the 300V–1200V high-voltage segment, creating a self-reinforcing cycle of design-win validation, capacity pre-commitment, and pricing leverage.