Bank of America buy on ON Semi: "We see ON as a top-3 global vendor of smart power and sensing chips for EVs, charging/storage infra, autonomous vehicles and factory automation. We believe ON will utilize multiple levers (fab sales, 300mm manufacturing) and improve product mix to significantly enhance its margin profile, driving material EPS and free cash flow upside. Demand for electric vehicles should eventually translate into 8% to 10% compounded annual revenue growth and mid-teen earnings per share growth."
$ON