A Seeking Alpha analyst rated ON Semiconductor a "Sell."
The analyst set a price target of $85-$90.
The rating reflects the view that onsemi's pivot from a cyclical automotive and industrial supplier to an AI power infrastructure provider is fully priced in. The report states the current valuation aggressively prices in future margin recovery and AI-driven growth.
The broader analyst consensus for onsemi remains a "Moderate Buy."
onsemi provides advanced power systems for NVIDIA's MGX data center architecture. Most analysts view this AI focus and an expected cyclical recovery in core automotive and industrial markets as key growth drivers.