---
title: "Needham reiterates Buy rating on ON Semiconductor, $116 price target"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/300777744.md"
description: "Needham reiterated its Buy rating on ON Semiconductor with a $116 price target, implying a 44.9% upside from the October 1 close. The firm cites strong competitive positioning in automotive and industrial sectors due to electrification trends. Additionally, the revised acquisition of Synaptics is expected to be immediately EPS accretive, expanding the total addressable market by $30 billion by 2030."
datetime: "2026-10-02T09:45:57.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/300777744.md)
  - [en](https://longbridge.com/en/news/300777744.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/300777744.md)
generator: "portal-rs"
---

# Needham reiterates Buy rating on ON Semiconductor, $116 price target

Needham reiterated their Buy rating on ON Semiconductor's stock with a price target of $116.00.

The price target implies an upside of 44.9% from the Oct 1 close of $80.08.

**Key takeaways from the analyst note**

**Strong Competitive Positioning**: ON Semiconductor is well-positioned to capitalize on multiple secular tailwinds in the automotive and industrial sectors, including vehicle electrification and increased power efficiency requirements, which are expected to drive significant growth in demand for its products.

**Accretive Acquisition Strategy**: The revised agreement to acquire Synaptics is anticipated to be immediately EPS accretive, enhancing ON Semiconductor's growth potential and expanding its total addressable market by an incremental $30 billion by 2030, further solidifying its market leadership.

**Recent analyst actions on ON**

| Date   | Firm              | Action     | Rating  | Price target |
| ------ | ----------------- | ---------- | ------- | ------------ |
| Sep 17 | Rosenblatt        | Maintains  | Neutral | $85          |
| Sep 17 | Cantor Fitzgerald | Maintains  | Neutral | $90          |
| Sep 17 | Needham           | Reiterates | Buy     | $116         |

Across the three most recent analyst notes published on ON over the past 30 days, price targets range from $85 to $116.

Explore more price target data and ratings for ON Semiconductor on the .

**Disclaimer**

Select reference data provided by Benzinga. This information is not a recommendation for what you should do personally and does not constitute investment advice.

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> **Disclaimer: This article is for reference only and does not constitute any investment advice.**