Semis Upgraded, Utilities Cut as Analysts Reposition

ON Semiconductor received the headline upgrade of the day. An analyst moved the stock to Buy, with the consensus target price slipping to $111.38 from $113.63. The upgrade signals growing confidence in the chipmaker's recovery. ON carries a short interest of 7.95% of free float — modest but worth watching.

Truist Securities made three cuts in the utilities space. Richard Sunderland trimmed targets on Edison International, DTE Energy, and CenterPoint Energy. Edison's target fell to $77 from $81. DTE dropped to $160 from $166. CenterPoint slid to $46 from $48. All three keep Buy or Hold ratings. The broad sweep suggests sector-level pressure rather than stock-specific concerns.

Energy got a boost. The consensus target on Diamondback Energy edged up to $230.79. The Permian pure-play carries a $55.9B market cap. Analysts remain overwhelmingly bullish with 25 Buy ratings.

Leidos Holdings saw its consensus target trimmed to $149.07 from $150.67. The defense IT firm holds a $14.9B market cap. Ten analysts rate it Hold versus seven at Buy.

Luxury names also got minor target bumps. Tapestry moved to $167.45 and lululemon athletica edged to $127.92, both reflecting steady but unexciting sentiment.