ON Semiconductor surges as industrial and AI demand align

MSN
2026.05.14 06:31
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ON Semiconductor's shares surged 44.5% in a month, driven by strong earnings and positive guidance, significantly outperforming the broader market. The company's AI data center revenue doubled year-over-year, and there was renewed growth in the industrial and automotive segments. Analysts have raised earnings estimates, with a Zacks Rank #2 (Buy) indicating expectations for continued strong performance.