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Last updated 2 minutes ago

ON·ON Semiconductor Corporation

$.
-. (-.%)
After Hours
High
$97.77
Open
$96.13
Market Cap
37.63B
52W High
$134.92
Low
$94.29
P. Close
$96.00
P/E
65.59
52W Low
$44.56
Fwd P/E
22.25
DailyIQ Est.
$116.66
Technical Score (1D)
55
BUY
News Sentiment
67
BULLISH
Onsemi’s all‑stock acquisition of Synaptics is expected to add compute assets that complement its power, sensing, and control strengths, potentially unlocking cost and revenue synergies beyond the $200 million estimate. The deal preserves Onsemi’s balance‑sheet flexibility, allowing continued buybacks and investment in Synaptics’ Astra program, which could accelerate its edge‑AI portfolio and improve earnings per share over the next few quarters. Concurrently, the company’s addition to multiple Russell growth benchmarks may support long‑term valuation, but the impact of the Synaptics transaction and fab divestitures remains uncertain, creating short‑term volatility. Susquehanna and Cantor Fitzgerald have both lifted price targets to $150 and $110 respectively, reflecting confidence in the company’s growth prospects amid a favorable semiconductor cycle, while Argus Research has cut its target to $96 amid margin‑pressure concerns. Analysts project Q3 earnings of $0.71 per share, up 33.96% YoY, and revenue of $1.59 billion, suggesting solid growth momentum that could materialize once the acquisition closes and divestitures reduce operating costs. Onsemi’s divestiture of two manufacturing facilities under its Fab Right strategy is expected to improve operating leverage and free capital for higher‑margin segments such as automotive and industrial sensors, potentially boosting gross margin in the near term. The company also forecasts an additional $350 million in incremental AI data‑center revenue, signaling a strategic shift beyond its cyclical auto focus and positioning it to capture growth in the $12.2 billion AI TAM. The broader semiconductor sector’s rebound, driven by positive memory market sentiment and expectations of tight demand through 2028, has lifted ON shares, indicating that macro‑demand factors are supporting the company’s valuation narrative. Traders should monitor the progress of the Synaptics acquisition, the closing of the fab divestitures, the upcoming earnings release for updated guidance, and any shifts in AI data‑center demand that could validate the company’s diversification strategy.
Earnings Summary
ON Semiconductor (ON) is a global provider of intelligent sensing and power solutions, operating through Power Solutions, Analog & Mixed‑Signal, and Intelligent Sensing segments that serve automotive, industrial, and computing markets. The company is positioned within the broader technology sector, specifically the semiconductor industry, where demand for power management and AI‑enabled devices is accelerating. In the most recent quarters, ON delivered a mixed earnings picture: Q4 2024 EPS of $0.95 fell short of the $0.97371 estimate while revenue of $1.7225 billion matched the high‑growth trajectory of the prior year; Q1 2025 EPS of $0.55 beat the $0.50186 forecast and revenue rose to $1.4457 billion, a decline from the previous quarter but still above the $1.4687 billion of Q2 2025; Q3 2025 EPS of $0.63 surpassed the $0.59081 estimate and revenue climbed to $1.5509 billion, the highest in the series; Q4 2025 EPS of $0.64 narrowly missed the $0.6414 target and revenue dipped to $1.5301 billion; Q1 2026 EPS of $0.64 exceeded the $0.6195 estimate and revenue settled at $1.5133 billion, continuing the modest decline trend. Over the past six quarters, ON has alternated between EPS beats and misses, with three beats and three misses, while revenue has shown a gradual contraction after a peak in Q3 2025, indicating a potential shift in demand dynamics. Recent strategic moves include the divestiture of two manufacturing facilities under the Fab Right strategy, which is expected to streamline operations and improve margins, and the announcement of an additional $350 million in incremental AI data‑center revenue that could drive higher margins in high‑efficiency power devices; the company also completed a $7 billion all‑stock acquisition of Synaptics, expanding its sensor and touch‑screen capabilities and positioning it for physical‑AI opportunities, though integration risk remains. Investors should watch for the completion of the divestitures, the first quarterly confirmation of AI data‑center revenue growth, and progress on the Synaptics integration and regulatory approvals, as these factors will shape margin expansion and revenue resilience in the next reporting period.

EPS

EstBeatMiss
$0.47$0.54$0.61$0.68$0.75Q1'25Q2'25Q3'25Q4'25Q1'26Q2'26
QtrEstActual+/−
Q2'26$0.71 - -
Q1'26$0.62$0.64+3.3%
Q4'25$0.64$0.64-0.2%
Q3'25$0.59$0.63+6.6%
Q2'25$0.53$0.53-0.4%
Q1'25$0.50$0.55+9.6%

Revenue

EstBeatMiss
$1.4B$1.5B$1.5B$1.6B$1.7BQ1'25Q2'25Q3'25Q4'25Q1'26Q2'26
QtrEstActual+/−
Q2'26$1.6B - -
Q1'26$1.5B$1.5B-1.2%
Q4'25$1.6B$1.5B-3.3%
Q3'25 - $1.6B -
Q2'25 - $1.5B -
Q1'25 - $1.4B -
Full Earnings BreakdownEstimates, actuals, guidance, and historical context
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Market Data

ON Stock Snapshot

ON is currently trading at $96.06, giving ON Semiconductor Corporation a market cap of 37.63B and a P/E ratio of 65.6. Today's range spans $94.29–$97.77, with shares opening at $96.13 and moving up $0.06 (0.1%) from the prior close. DailyIQ's technical score sits at 55/100 (HOLD) with a news sentiment reading of 67/100.

Over the past year ON has traded between $44.56 and $134.92 - the current price is +115.6% off the 52-week low and -28.8% from the high. 41 analysts cover the stock with a Hold consensus and a mean 12-month target of $114.12 (range $85.00–$150.00), implying upside of +18.8%.

Neither bulls nor bears have the upper hand on ON Semiconductor Corporation (ON) right now. Score: 55/100 (HOLD). Sentiment: bullish (67/100). Price: $96.06 (in the middle of its 52-week range). (P/E: 65.6) At 37.63B in Technology market cap, the 52-week range of $44.56–$134.92 is the relevant frame - where the stock sits within that range, and whether volume confirms any directional move, matters more than the HOLD label alone.

Portfolio construction in Technology often uses large-cap names like ON as tactical swing positions during neutral phases: cheap enough to overweight, liquid enough to exit quickly, and large enough to provide meaningful sector beta. The current 55/100 (HOLD) at $96.06 (in the middle of its 52-week range) and bullish sentiment (67/100) frame the position as a catalyst play within the $44.56–$134.92 annual range rather than a directional bet.