ON Semiconductor Has Cratered for 3 Months: This Wall Street Pro Remains Bullish, Citing 120% Returns for Buyers

ON Semiconductor has lost nearly 50% of its market value over the past three months, substantially underperforming peers that were largely resilient. Despite the selloff, a Wall Street analyst reiterated an unusually bullish stance, maintaining the most aggressive price target among covering analysts. The call highlights a high-conviction potential rebound thesis but also underscores elevated execution and valuation risk following severe relative underperformance.