Morgan Stanley Lifts PT on ON Semiconductor (ON) Stock
ON Semiconductor Corporation (NASDAQ:ON) is one of the best Semiconductor Stocks to Buy Through 2026. Morgan Stanley analyst Joseph Moore raised his price target on the company’s stock to $56 from $55 on Nov. 24, while maintaining his “Equal Weight” rating. Fly.
The analyst noted the company’s recent 8-K filing, in which management approved the recognition of non-cash impairment before additional taxes and accelerated depreciation charges of $200 million to $300 million. Impairment and accelerated depreciation charges are for long-lived assets associated with investments in production assets at certain of the company’s manufacturing facilities.
According to management, such charges will reduce the company’s recurring depreciation expense by an amount estimated at $10 million-$15 million in 2026. The analyst believes the increased impairments are likely related to ON Semiconductor Corporation’s (NASDAQ:ON) Silicon Carbide production assets.
In a separate development, ON Semiconductor Corporation (NASDAQ:ON) reported revenue of $1.5 billion and $1.76 billion for the quarters ending October 3, 2025 and September 27, 2024, respectively; This corresponds to a 12% decrease on an annual basis, while it was announced that the revenue from PSG decreased by ~11% on an annual basis.
Diluted earnings per share were $0.63 in Q3 2025 on a GAAP basis compared to $0.41 in Q2 FY 2025, as ON Semiconductor Corporation (NASDAQ:ON) saw continued signs of stability in its core markets and positive growth in AI.
ON Semiconductor Corporation (NASDAQ:ON) provides intelligent sensing and power solutions.
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Description: None. This article was originally published at: Insider Monkey.
