15 AI Stocks Making Waves on Wall Street

Page 5 of 15

11. ON Semiconductor Corporation (NASDAQ:ON)

Number of Hedge Fund Holders: 45    

ON Semiconductor Corporation (NASDAQ:ON) provides intelligent sensing and power solutions in the United States and internationally. The firm markets innovative power supply solutions used to power high-density servers that can handle the larger data loads and intense power consumption required to power many Gen-AI applications and tools. On November 22, Wells Fargo analyst Joe Quatrochi initiated coverage of the stock with an Overweight rating and $85 price target. While semiconductor demand continues to bounce along the bottom, On’s competitive position can drive accelerating revenue growth from expanding opportunities related to battery electric vehicle adoption of silicon carbide, the advisory told investors in a research note.

Page 5 of 15