ON Is Gaining Traction in the Data Center Power Market, Along Core Automotive and Industrial Growth
We believe Onsemi is a power chipmaker aligning itself to the differentiated parts of its portfolio in order to accelerate growth and margin expansion. We expect the firm to outpace the growth of its underlying markets over the next five years as it tailors its portfolio of chips and sensors to pursue secular trends toward electrification and connectivity that allow it to sell into new sockets. Onsemi is the top supplier of image sensors to automotive applications like advanced driver-assist systems, or ADAS, and its semiconductors enable power transfer and conversion in electric vehicles and renewable energy—all of which we expect to keep Onsemi’s sales growth above that of its underlying markets.
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