ON Semiconductor Stock Forecast: ON Semiconductor Could Also Be A Takeover Target
The article was written by Motek Moyen Research Seeking Alpha’s #1 Writer on Long Ideas and #2 in Technology – Senior Analyst at I Know First.
On Semiconductor Stock Forecast
Summary:
- On Semiconductor is the no. 7 supplier of automotive chips in the world. It is predicted that this industry will grow from $29 billion last year to
- After Qualcomm’s $39 billion buyout of NXP, On Semiconductor could also be an acquisition target.
- Like NXP, On Semiconductor derives a large portion of its annual revenue from the auto industry. It obviously has a list of loyal customers.
- Institutional investors own more than 96.5% of ON shares. Interested parties with a good offer will easily be able to buy On Semiconductor.
- Based on the positive near and long-term algorithmic forecasts from I Know First, it could be profitable to go long ON right now.
