ON Semiconductor Corporation (NASDAQ: ON) had its price target raised by Morgan Stanley analyst Joseph Moore to $56 from $55 with an “Equal Weight” rating. The company recently approved additional non-cash impairment charges of $200 million to $300 million for long-lived assets related to certain manufacturing facilities.

The impairments are expected to reduce ON Semiconductor’s recurring depreciation expenses by $10 million to $15 million in 2026, likely linked to Silicon Carbide manufacturing assets. Revenue for the quarters ended October 3, 2025, and September 27, 2024, saw a 12% year-over-year decline, with PSG revenue falling approximately 11% year-over-year.

In Q3 2025, ON Semiconductor reported diluted EPS of $0.63 compared to $0.41 in Q2 FY 2025 on a GAAP basis, indicating stabilization in core markets and growth in AI. The company provides intelligent sensing and power solutions, but analysts suggest other AI stocks may offer greater potential with less downside risk.

For more insights on AI stocks, check out the free reports available on Insider Monkey’s website. No disclosures were made regarding investments in ON Semiconductor Corporation.

Read more at Yahoo Finance: Morgan Stanley Lifts PT on ON Semiconductor (ON) Stock