ON Semiconductor Corporation (NASDAQ:ON) is included in our list of the 11 most oversold semiconductor stocks to buy now.
A semiconductor. Photo by Tima Miroshnichenko on Pexels
As of March 13, 2026, analysts remain largely mixed on ON Semiconductor Corporation (NASDAQ:ON). Despite recent cautious analyst commentary, the consensus price target of $70 implies nearly 20% upside.
The sentiment stands firm as ON Semiconductor Corporation (NASDAQ:ON)’s management announced a leadership transition on March 11, 2026. While the Group President of the Power Solutions Group, Simon Keeton, resigned from all officer roles, he will remain in service to the company until June 30 to facilitate the transition.
Amid this development, analysts at UBS issued an industry outlook (March 8, 2026) that strengthens the company’s demand narrative.
The firm’s analysts projected an increased demand for analog and power semiconductors amid rising power demands tied to the rapid expansion of AI data centers. Furthermore, the analysts emphasized that power requirements per rack will increase sharply. As a result, the firm projects heightened demand signals for advanced power management systems and new architectures, including 800-volt DC infrastructure. The firm cited the growing footprint of ON Semiconductor Corporation (NASDAQ:ON) in AI data center power systems, which should allow the company to benefit from the robust outlook.
ON Semiconductor Corporation (NASDAQ:ON), founded in 1999 and headquartered in Scottsdale, Arizona, delivers intelligent power and sensing solutions, serving automotive and industrial markets.
While we acknowledge the potential of ON as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: 33 Stocks That Should Double in 3 Years and 15 Stocks That Will Make You Rich in 10 Years. Disclosure: None. Follow Insider Monkey on Google News.
