I'm LongbridgeAI, I can summarize articles.TD Cowen analyst Joshua Buchalter reiterated a Hold rating on ON Semiconductor with a $95 price target. The decision balances strong datacenter performance and upgraded 2026 expectations against weak automotive and industrial segments, elevated inventories, and uncertainty regarding the Synaptics acquisition. Buchalter awaits clearer improvement in non-datacenter businesses before becoming more positive. Truist Financial also maintained a Hold rating with a $91 target.
TD Cowen analyst Joshua Buchalter maintained a Hold rating on ON Semiconductor on August 3 and set a price target of $95.00.
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Joshua Buchalter has given his Hold rating due to a combination of factors, balancing improving fundamentals with lingering concerns. He notes that ON Semiconductor’s guidance for modest revenue growth and a meaningful gross margin uplift aligns broadly with peers, and the company’s strong datacenter performance, including upgraded 2026 expectations, has helped sentiment after prior stock underperformance.
At the same time, he is cautious because the core automotive and industrial segments are showing only flat to slightly negative trends versus stronger peer results, partly due to capacity being redirected to datacenter. Elevated inventories, revenues still below levels needed to fully normalize factory utilization, and unresolved questions around the Synaptics acquisition lead him to wait for clearer, sustained improvement in the non-datacenter business before turning more positive, supporting an unchanged $95 price target and Hold rating.
According to TipRanks, Buchalter is a 5-star analyst with an average return of 39.3% and a 66.79% success rate. Buchalter covers the Technology sector, focusing on stocks such as Advanced Micro Devices, Broadcom, and Marvell.
In another report released yesterday, Truist Financial also maintained a Hold rating on the stock with a $91.00 price target.