This Chipmaker Is a Smart Bet on Electric Vehicles and Industrial Technology

The semiconductor industry is pivoting to address new growth trends: automobiles and industrial equipment. Enter ON Semi (NASDAQ: ON), once a commoditized integrated device manufacturer (IDM) company that was often overlooked in favor of bigger names like Texas Instruments and NXP Semiconductors. ON has done a great job positioning itself the last few years as a top option in the chip space for automotive and industrial technology.