ON Semiconductor (ON) Management Meeting Highlights Basestation Opportunity - Stifel

Stifel analyst, Kevin Cassidy, reiterated his Buy rating on shares of ON Semiconductor (NASDAQ: ON) after meeting with management and learning that they are involved with enough positive secular trends to avoid the classic semiconductor cycle downside.

The analyst stated "ON expects to have significant medium power voltage solution content in 5G basestations, compared to zero content in 3G and 4G basestations. The company is beginning to see buildouts starting now and has already agreed to multi-year supply agreements with all the 5G basestation manufacturers."

No change to the price target of $29.

For an analyst ratings summary and ratings history on ON Semiconductor click here. For more ratings news on ON Semiconductor click here.

Shares of ON Semiconductor closed at $16.54 yesterday.

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