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ON Semiconductor (ON) Gets Double-Digit PT Hike, Hits 2-Year High
ON Semiconductor (NASDAQ:ON) reached an over two-year high, extending a 14-day rally after B. Riley upgraded its price target to $115 from $64, and its recommendation to “buy” from “neutral.” The upgrade is based on expectations for in-line Q1 earnings, citing emerging growth and the company’s exit from non-core revenue streams. Investors are also anticipating the chipmaker’s Q1 2026 earnings release on May 4, 2026, and its outlook for Q2.