onsemi (ON) Stock Trades Up, Here Is Why - The Chronicle-Journal

onsemi (ON) stock surged 9.9% in late trading on May 26, 2026, following a price target upgrade by Bank of America, which raised its target to $138 and maintained a 'Buy' rating. The bank highlighted ... Read original →

onsemi's surge signals a cyclical inflection in analog semiconductors. Technically, its dominance in automotive SiC and power management ICs accelerates 800V EV architectures and fuels demand for edge-AI chips in industrial automation. Regulatory pressures—sluggish U.S. CHIPS Act disbursements and persistent supply chain risks around Taiwan, China—are forcing rapid qualification of Mexico and Czech fabs, inflating near-term CapEx. While TI and Analog Devices pressure commodity analog pricing, onsemi doubles down on high-barrier niches, likely compelling NXP and Microchip to lock in OEM long-term agreements. Over the next 18 months, as analog content per EV rises over 30% and AI server power complexity surges, onsemi’s multi-year content gains should convert from narrative to cash flow—but inventory restocking mismatches could trigger renewed volatility.