Are ON Semiconductor Corporation’s (ON) stock prices rising too high?

Wells Fargo raised the price target for the ON Semiconductor Corporation (NASDAQ:ON) stock from ‘an Equal weight’ to ‘an Overweight’. The rating was released on May 12, 2023, according to finviz. We previously noted in another research note published on February 08, 2023 by UBS that reiterated the stock to a Neutral with a price target of $69 for ON stock. The research report from Truist has reiterated the stock to Buy, with a price target set at $73. The stock was reiterated by Needham, who disclosed in a research note on February 08, 2023, to Strong Buy and set the price objective to $80.