ON Semiconductor price target raised to $88 from $69 at Benchmark

Benchmark analyst David Williams raised the firm’s price target on ON Semiconductor to $88 from $69 and keeps a Buy rating on the shares following the company’s quarterly report, stating that the "onsemi machine continues to deliver solid performance," the tone from management was "as positive in the long-term trajectory as we have heard" and the firm remains confident in the company’s longer-term growth opportunities.