Key Takeaways:
- Onsemi (ON, Financial) stops its acquisition pursuit of Allegro Microsystems (ALGM) due to a lack of board engagement.
- Despite halting acquisition plans, analysts see a significant upside potential for Onsemi stock.
- ON Semiconductor is currently rated as "Outperform" by analysts, with a strong forecast for future growth.
Onsemi (ON) recently announced its decision to cease acquisition efforts of Allegro Microsystems (ALGM), attributing the decision to insufficient engagement from Allegro's board on the proposal. This strategic move by Onsemi unfolds amidst industry movements such as Palantir's (PLTR) stock surge following NATO's adoption of their Maven system and a decline in Applied Digital's (APLD) shares post-earnings miss.
Analyst Price Targets and Recommendations
According to projections from 24 analysts, the average one-year price target for ON Semiconductor Corp (ON, Financial) stands at $57.42, with expectations reaching as high as $85.00 and as low as $38.00. This average price target suggests a significant upside of 60.17% from the current stock price of $35.85. For a comprehensive view of these estimates, please visit the ON Semiconductor Corp (ON) Forecast page.
In terms of analyst consensus, 32 brokerage firms have provided ON Semiconductor Corp (ON, Financial) an average recommendation rating of 2.4, indicating an "Outperform" status. This rating scale ranges from 1, representing a Strong Buy, to 5, which signifies a Sell.
GuruFocus GF Value Insights
According to GuruFocus metrics, the estimated GF Value for ON Semiconductor Corp (ON, Financial) in one year is pegged at $58.31. This indicates a potential upside of 62.65% from the current market price of $35.85. The GF Value represents GuruFocus's assessment of the stock's fair trading value, calculated based on historical trading multiples, past business growth, and future performance estimates. For detailed insights, explore the ON Semiconductor Corp (ON) Summary page.
