Robert W. Baird analyst Tristan Gerra raised onsemi's (ON) price target on August 3, citing improving growth momentum in AI data centers, industrial markets, electric vehicles, and China, as well as higher factory utilization and a more favorable product mix. Nevertheless, the analyst expressed concerns about onsemi's market share loss in the industrial, automotive, and analog sectors, believing that competitors such as STMicroelectronics (ST) and Texas Instruments (TXN) are growing faster, and that onsemi's relatively limited in-house manufacturing capabilities could become a competitive disadvantage.