On Semiconductor Corporation is a top electric vehicle supply chain stock. BofA maintained a Neutral rating on ON but lowered its target to $52. ON stock traded at $49.11 on September 5, with a 14.02% implied upside. Analysts project a 17.06% upside. ON provides essential semiconductor tech for EVs, supporting automakers like Xiaomi with SiC technology for improved performance. The company’s EliteSiC solutions are integrated into Xiaomi’s electric SUVs, and it partners with Schaeffler for traction inverters. Despite a 4% decrease in automotive revenue in Q2 2025, ON expects demand to rebound with ongoing EV revamps. Consider other AI stocks with greater upside potential and less downside risk. Explore undervalued AI stock opportunities that benefit from Trump-era tariffs and onshoring trends.

Read more at Yahoo Finance: BofA Maintains Neutral on On Semiconductor (ON) Despite Price Target Cut