ON Semiconductor raised its long-term growth targets at its Investor/Analyst Day on September 16, 2026, now aiming for a 12% to 14% compound annual revenue growth rate through 2030, up from the previous 10% to 12% range. The company projects approximately $11 billion in total revenue by 2030. Its AI data center business is expected to exceed $500 million in 2026 and surpass $2.5 billion by 2030, representing a CAGR of over 50%. Semiconductor content per AI rack is forecast to grow from approximately $15,000 today to more than $115,000 by 2030. Automotive and industrial segments are projected to grow at approximately 9% and 10% annually respectively. On Wall Street, J.P. Morgan maintained a Buy rating with EPS projections of $10 to $11 by 2030, while Stifel took a more cautious stance on the targets.
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