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ON Semiconductor raises long‑term revenue growth target to 12‑14% CAGR through 2030
ON Semiconductor announced at its Investor/Analyst Day on September 16, 2026 that it has raised its long‑term revenue growth target to a 12‑14% compound annual growth rate through 2030, up from the previous 10‑12% range. The company now expects total revenue of about $11 billion by 2030, driven mainly by its AI data‑center business, which it projects to exceed $500 million in 2026 and more than $2.5 billion by 2030, a CAGR over 50%. Onsemi also forecasts automotive revenue to grow 9% annually and industrial revenue about 10% annually. It cited a $213 billion total addressable market for its core power business by 2030, expanded by the Synaptics acquisition. CEO Hassane El‑Khoury said there are no signs of an AI slowdown and noted a Vcore socket design win with Nvidia expected to generate revenue by late 2026. J.P. Morgan projected earnings per share of $10‑$11 by 2030, while Stifel lowered its price target.