Wolfspeed (NYSE:WOLF | WOLF Price Prediction) stock is down 12% to $25.74 in Thursday morning trading after the silicon carbide chipmaker posted a fiscal Q4 2026 adjusted loss that came in far wider than analysts expected.

Power semiconductor stocks are pushing higher in Monday trading, with Wolfspeed (NYSE:WOLF | WOLF Price Prediction) up 5.74% to $33.61, STMicroelectronics (NYSE:STM) up 4.17% to $56.56, and ON Semiconductor (NASDAQ:ON) up 2.96% to $85.11.

onsemi NASDAQ: ON executives said the company is increasing factory utilization to meet stronger demand in AI data center markets while maintaining its longer-term focus on automotive and industrial customers.

ON Semiconductor keeps making the case for accumulation, and the Q2 2026 report only strengthened it.

MaxLinear, Inc. (NASDAQ: MXL), a leader in high-performance analog, mixed-signal and connectivity semiconductor solutions, today announced the expansion of its

ON Semiconductor (NASDAQ:ON | ON Price Prediction) currently trades at $81.17, while the Wall Street consensus price target sits at $108.88, leaving roughly 34% of implied upside.

I'm reiterating ON Semiconductor as a Strong Buy with a raised price target of $139. Q2 2026 results exceeded expectations: revenue grew 9% y/y to $1.604B, non-GAAP EPS reached $0.74, and operating margin expanded to 20.8%. AI data center power remains ON's fastest-growing business, with management now expecting revenue to more than double in 2026, strengthening the investment thesis.

Our call on ON Semiconductor (NASDAQ:ON | ON Price Prediction) is straightforward.

onsemi (NASDAQ: ON) reported second-quarter 2026 results above the midpoint of its guidance, citing recovering demand, continued growth in AI data-center applications and improving operating leverage. The semiconductor company generated $1.6 billion in revenue, up 6% sequentially and 9% from a year earlier. Non-GAAP gross margin rose 80 basis points from the prior quarter to 39.3%,

onsemi's Q2 earnings and revenues beat estimates as AI data center demand, a richer mix and higher utilization fueled growth.