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ON·ON Semiconductor Corporation

$73.36
-3.33 (-4.34%)
After Hours
High
$76.68
Open
$74.97
Market Cap
29.60B
52W High
$136.63
Low
$71.84
P. Close
$73.36
P/E
46.97
52W Low
$44.10
Fwd P/E
16.93
DailyIQ Est.
$107.58
Inst. Ownership
-
Short Interest
7.72%
Days to Cover
2.4
Technical Score (1D)
86
BULLISH
News Sentiment
59
BULLISH
On Oct 13, Cirrus Logic announced that it was no longer pursuing an acquisition of Synaptics, a move disclosed in a regulatory filing that clarified its status as the unnamed party in Synaptics’ pending merger with ON Semiconductor. The withdrawal removed a potential competitor from the merger landscape and left ON’s merger prospects unchanged. On the same day, ON Semiconductor reported a 9.18% revenue increase in Q2 2026, signaling a rebound after a 22.39% drop in Q1 2025. Management projected that AI data center revenue would more than double in 2026 and forecasted non‑GAAP EPS of $0.81‑$0.93 for Q3. The company also highlighted improved profitability and cash flow driven by rising demand in the automotive and artificial intelligence sectors, noting gains from its Fab Right expansion and a strategic partnership with Synaptics. Additionally, ON Semiconductor’s shares dipped 0.6% to $75.55 on Oct 13, approaching a five‑day streak of losses amid broader tech weakness, while the 260‑day moving average served as a support level that analysts view as a potential springboard for a rebound.
LOW TARGET
$75 +4.2%
3 analysts
MEAN TARGET
$104 +45.1%
23 analysts
HIGH TARGET
$150 +108.3%
14 analysts
PRICE RANGE
$75.00 - $150.00
SB / B / H / S / SS
5/14/19/1/1
DAILYIQ EST.
$107.58 (+49.4%)
Sector
Technology
Industry
Semiconductors
Exchange
NMS
Country
United States
Website
Symbol
ON
Description
ON Semiconductor (ON) is a global provider of intelligent sensing and power solutions, serving diverse industries worldwide. The company's core business revolves around three primary segments: Power Solutions, Analog and Mixed-Signal, and Intelligent Sensing. The Power Solutions segment delivers discrete, module, and integrated semiconductor products essential for power management and circuit protection. The Analog and Mixed-Signal Group focuses on designing and developing integrated circuits for various applications, including power conversion and signal processing, targeting automotive, industrial, and computing markets. Finally, the Intelligent Sensing Group provides image sensors, signal processors, and detectors, supporting autofocus and image stabilization technologies. Incorporated in 1992 and headquartered in Scottsdale, Arizona, ON Semiconductor is positioned to capitalize on the growing demand for advanced semiconductor solutions.
Bought (1Y)
0 shares
$0
Sold (1Y)
16,048 shares
$1.3M
MASCARENAS PAUL ANTHONY-
Award/Grant126 shares2026-10-02
GOPALSWAMY SUDHIRGroup President, AMG & ISG
Sell15,578 shares2026-10-01
MASCARENAS PAUL ANTHONY-
Award/Grant116 shares2026-07-02
GOPALSWAMY SUDHIRGroup President, AMG & ISG
Tax Withholding470 shares2026-05-26
MASCARENAS PAUL ANTHONY-
Award/Grant1,986 shares2026-05-14
61/ 100
Neutral / mixed
Overall: Neutral
✕Revenue declining year over year
✓Positive net margin
✓Positive operating cash flow
Gross Margin
33.1%
Net Margin
2.0%
Revenue CAGR
6.5%
Current Ratio
4.52x
Debt / Equity
0.39x
Return on Equity
1.6%
Earnings Summary
ON Semiconductor is a global provider of intelligent sensing and power solutions, operating through Power Solutions, Analog and Mixed‑Signal, and Intelligent Sensing segments that serve automotive, industrial, and computing markets. The company’s semiconductor focus places it in a high‑growth technology sector that benefits from rising demand for power management and advanced imaging components. In the most recent two quarters, Q4 2025 revenue fell to $1.53 billion from $1.58 billion in Q3 2025, a 3.1 % decline, while EPS slipped from $0.63 to $0.64, a modest 1.6 % increase that still fell short of the $0.6414 estimate; the company beat estimates in Q3 2025 but missed in Q4 2025. The preceding two quarters (Q2 2025 and Q1 2025) showed revenue growth of 1.4 % and 1.8 % respectively, with EPS rising from $0.53 to $0.55, both beating guidance. Historically, ON has delivered steady YoY revenue growth of roughly 5–7 % over the past four quarters, with EPS growth lagging slightly behind, often missing analyst expectations in the fourth quarter while maintaining revenue gains. The company’s earnings pattern indicates a resilient top line but occasional pressure on profitability during seasonal cycles. Recent news highlights the October 1 acquisition announcement of Synaptics in an all‑cash deal valued at $5.7 billion, a move expected to be immediately accretive to ON’s earnings per share and to strengthen its portfolio in memory and logic solutions; the deal was well received by investors, lifting the stock and signaling strategic expansion.

EPS

EstBeatMiss
$0.48$0.59$0.70$0.82$0.93Q2'25Q3'25Q4'25Q1'26Q2'26Q3'26
QtrEstActual+/−
Q3'26$0.88 - -
Q2'26$0.74$0.74+0.5%
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%

Revenue

EstBeatMiss
$1.4B$1.5B$1.6B$1.7B$1.8BQ2'25Q3'25Q4'25Q1'26Q2'26Q3'26
QtrEstActual+/−
Q3'26$1.8B - -
Q2'26$1.6B$1.6B-2.0%
Q1'26$1.5B$1.5B-1.2%
Q4'25$1.6B$1.5B-3.3%
Q3'25 - $1.6B -
Q2'25 - $1.5B -

Market Data

ON Stock Snapshot

BULLISH86/100
$72.00−$1.36 (1.9%)
Market cap
29.60B
P/E ratio
47.0
Day range
$71.84 – $76.68
News sentiment
59/100 · Neutral
Analyst target
$104.46 (+45.1%)
Consensus
Hold · 40 analysts
52-week range+63.3% off low · -47.3% from high
$44.10$136.63
Price $72.00 DailyIQ Est. $107.58

ON Semiconductor Corporation ranks ahead of most of DailyIQ's universe on 12-month price momentum. Institutional coverage is thorough here, so shifts in analyst expectations show up in price quickly.

Reverse DCF

What growth is priced into ON?

RICH

At today's price, ON Semiconductor Corporation needs to grow free cash flow about 22.7% a year for the next 10 years to justify its valuation at a 12.56% cost of capital. Over its actual history it has compounded free cash flow at 13.4% a year, so the market is asking for 9.3 percentage points above its own delivered rate. On that basis ON looks priced above what its own growth record supports.

Implied FCF growth
22.7%
Historical FCF CAGR
13.4%
Growth gap
+9.3 pts
Verdict
RICH
Discount rate (WACC)
12.56%
Beta
1.67

Behaviour On Record

What ON's own history says about today's numbers

Realized volatility (21d)
59.9% 85th pct
Below its peak
-45.0%
vs 200-day average
-10.0%
Up days (1y)
53%

ON Semiconductor Corporation is currently running 59.9% annualised volatility over the last 21 sessions. Measured against ON's own 13 years of daily returns rather than a market-wide average, that is the 85th percentile — elevated for this stock, against a typical reading of 40.2%. The distinction matters because a number that looks calm for one stock is turbulent for another, and the absolute figure on its own tells you neither.

ON is trading -45.0% below its running peak. Across 12 full years on file, its median worst-drawdown-in-a-year was -31.6%, and the deepest was -65.4% in 2020. The current drawdown is already deeper than this stock's typical annual low point, which puts it in the part of its range where past recoveries began — and where past declines also continued.

Price sits -10.0% from its 200-day moving average. Against every other day in its history, that gap ranks at the 17th percentile — a narrower gap than it typically runs. Over the past year ON closed higher on 53% of sessions, and it is currently 1 session into a falling streak.

On October specifically: over 14 years of records, ON finished the month higher 7 of 14 times, with a median return of -0.0% and an average of -0.7%. Its strongest month historically has been July at +6.2% on average, its weakest March at -3.7%. Seasonality is a weak signal on its own — a decade is a small sample and regimes change — but it is a real distribution rather than a rule of thumb.

Overnight risk is measurable too: ON has opened more than 2% away from the prior close in 313 of 3,268 sessions (9.6% of the time), with the largest gaps running +13.6% and -8.2%. For anyone holding through an event, that rate is a better guide to overnight exposure than the intraday range.

Across the last 3 dated reports on file, ON moved an average of 6.8% in the session after earnings, closing higher 2 of those 3 times, with a median move of +5.9% and a largest of +7.5%.

All figures computed from 3,269 daily closes between 2013-10-15 and 2026-10-14, split-adjusted, recomputed daily. Percentiles are against ON's own 13-year history, not a peer group or index.

Sector Rotation

Is money rotating into or out of ON's sector?

ON Semiconductor Corporation sits in the Semiconductors sector, currently ranked 1st of 12 GICS sectors by relative-strength rotation score (weakening). Within its narrower Semiconductors industry group, ON ranks 1st of 15 tracked industries, weakening.

Sector rank
#1 of 12
Sector state
Weakening
Sector rotation score
0
Industry rank
#1 of 15

Options Market

What is the options market pricing for ON?

CallsPuts

For ON Semiconductor Corporation's nearest expiry (2026-10-16, 2 days out), open interest is call-heavy, a bullish tilt (put/call ratio of 0.56), with at-the-money implied volatility around 61.4%. The options market is pricing roughly a ±4.4% move by that expiry — a range of about $71.74–$78.40.

Put/call ratio (2026-10-16)
0.56
ATM implied volatility
61.4%
Total open interest
60,816
Expected move by 2026-10-16
±4.4% ($71.74–$78.40)

Analyst Rating Changes

Are analysts turning bullish or bearish on ON?

Stifel most recently reiterated its rating on ON Semiconductor Corporation to Hold on Oct 5, 2026 with a price target of $80 (from $75). Over the last 90 days, coverage has run 0 upgrades against 0 downgrades, a net mixed lean.

Latest action
Stifel — Hold
90-day upgrades
0
90-day downgrades
0
Net rating momentum
0
DateFirmActionRatingPrice target
Oct 5, 2026StifelMaintainedHold$75 → $80
Oct 2, 2026Wells FargoMaintainedOverweight$85 → $100
Oct 2, 2026NeedhamReiteratedBuy$116
Sep 23, 2026Seaport GlobalInitiatedBuy$100
Sep 18, 2026Truist SecuritiesMaintainedHold$91 → $75
Sep 17, 2026StifelMaintainedHold$90 → $75
Sep 17, 2026MizuhoMaintainedOutperform$110 → $95
Sep 17, 2026RosenblattMaintainedNeutral$85
Sep 17, 2026Wells FargoMaintainedOverweight$95 → $85
Sep 17, 2026Cantor FitzgeraldMaintainedNeutral$110 → $90
Sep 17, 2026NeedhamReiteratedBuy$116
Sep 3, 2026Wells FargoMaintainedOverweight$110 → $95

Peers & ETF holders

ON peers & ETF holders

News Sentiment Analysis

Sentiment gathered from recent headlines

59/100
Strong NegativeNeutralStrong Positive
MODERATELY BULLISH

Recent News Coverage

Most recent articles, ranked by recency (click to expand).

10+ articles
What did this article say?
Cirrus Logic confirmed it was the unnamed party in regulatory filings about Synaptics’ pending merger with ON Semiconductor, but it clarified it was no longer pursuing an acquisition of Synaptics. The announcement came after Cirrus had previously proposed a deal to acquire Synaptics. The withdrawal removes a potential competitor from the merger landscape and may affect ON’s strategic positioning in the semiconductor market.
What did this article say?
ON Semiconductor rebounded from a sharp decline in 2025, reporting a 9.18% revenue increase in Q2 2026 after a 22.39% drop in Q1 2025. Management forecasts AI data center revenue to more than double in 2026 and projects non‑GAAP EPS of $0.81‑$0.93 for Q3. The stock has risen 42% year‑to‑date and is trading below its 52‑week high, indicating potential upside for investors.
What did this article say?
On October 13, ON Semiconductor’s shares fell 0.6% to $75.55, approaching a five‑day streak of losses amid broader tech weakness. The 260‑day moving average provided a support level that analysts view as a potential springboard for a rebound. Historical patterns suggest that when the stock trades near this trendline, it often gains about 8% within a month, and a short squeeze could further lift the price. Despite the pullback, most brokerages maintain neutral to slightly bullish ratings, with 10 holding “strong buy” and 17 “hold” designations. The company’s volatility score remains high, indicating that significant price swings are still possible.
What did this article say?
ON Semiconductor reported improved profitability and cash flow driven by rising demand in the automotive and artificial intelligence sectors. The company highlighted strong Q2 earnings, gains from its Fab Right expansion, and a strategic partnership with Synaptics. These developments suggest a solid operational trajectory and potential for continued revenue growth.
What did this article say?
On October 12, ON Semiconductor Corp. (ON) closed at $76, down 1.97% from its prior close. The decline mirrored a broader market dip, indicating a modest short‑term headwind for the company. No new earnings data or corporate announcements were released to explain the move, suggesting the price action was driven by general market sentiment rather than company‑specific fundamentals. The dip was limited in scope and unlikely to impact long‑term valuation or strategic outlook.
What did this article say?
ON Semiconductor announced a revised acquisition agreement with Synaptics that cuts the purchase price. The deal is expected to contribute earnings immediately, driven by rising demand for AI infrastructure. The adjustment signals a strategic move to strengthen ON’s position in high‑growth AI markets.
What did this article say?
The article argues that ON Semiconductor remains a compelling investment for 2026, citing its core exposure to electric vehicles and industrial applications as a foundation for continued growth. It highlights the company’s expanding role in AI data center infrastructure, particularly through a partnership with Nvidia, and its involvement in physical AI technologies. The piece emphasizes ON’s power and sensing chips, which support lightweight, long‑range EVs and advanced driver assistance systems, reinforcing its position in the automotive and industrial markets. Overall, the recommendation suggests that ON’s valuation is still attractive despite a 43% rise in 2026, positioning the stock as a value play with growth potential.
What did this article say?
Jim Cramer highlighted ON Semiconductor as a recovery play after a turbulent summer, noting the company’s shift toward AI data center demand. Management projected that AI data center revenue would more than double by 2026, and the firm reported new platform wins and an expanded role in NVIDIA’s MGX ecosystem. ON’s Q2 revenue rose 9% to $1.60 billion, with adjusted EPS of $0.74 and free cash flow of $425.4 million. The company also outlined a $213 billion addressable market by 2030 across automotive, industrial, AI, and emerging applications. These developments suggest a positive trajectory for ON’s growth prospects.
What did this article say?
On October 7, ON Semiconductor’s shares traded near $83, declining 4.4% that day but remaining 72.7% above the prior year’s level. The company’s valuation implied a near‑tripling of earnings, reflecting investor confidence in its economic moat. Analysts highlighted the qualification cycle of power‑management chips as a key competitive advantage, sustaining high margins. The market’s forward earnings multiple of 18.22 versus a trailing 53.23 underscored expectations of significant profit growth. Overall, the data suggested a positive trajectory for ON’s profitability and market positioning.

Technical Analysis

Real-time indicators across multiple timeframes

86
BULLISH
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Institutional & Hedge Fund Ownership
25 tracked managers · $20.53B combined position · 13 adding, 12 trimming, 0 unchanged (latest 13F filings)
ManagerTrendShares Held% of Co.Position ValueFiled
FMR LLC (Fidelity)▼ Sell56,679,39314.59%$5.36B2026-08-13
BlackRock, Inc.▲ Buy40,980,73910.55%$3.87B2026-08-07
Vanguard Group Inc▼ Sell51,066,45313.15%$2.77B2026-01-29
Geode Capital Management, LLC▲ Buy10,836,5632.79%$1.02B2026-08-12
JPMorgan Chase & Co▼ Sell10,129,2502.61%$897.15M2026-08-12
Janus Henderson Group plc▲ Buy13,700,8843.53%$848.39M2026-05-18
Goldman Sachs Group Inc▲ Buy7,877,8812.03%$744.77M2026-08-14
Norges Bank▲ Buy7,857,2512.02%$742.82M2026-08-12
Bank of America Corp▲ Buy6,275,3951.62%$593.28M2026-08-14
Morgan Stanley▼ Sell5,917,2241.52%$559.41M2026-08-13
Invesco Ltd.▼ Sell4,888,3461.26%$462.14M2026-08-14
Two Sigma Investments, LP▼ Sell4,068,5601.05%$384.64M2026-08-14
Citigroup Inc▼ Sell3,817,0470.98%$360.86M2026-08-03
Baillie Gifford & Co▼ Sell3,423,8800.88%$323.69M2026-08-06
Northern Trust Corp▼ Sell3,307,8650.85%$312.73M2026-08-13
Sculptor Capital LP▲ Buy140,000,00036.04%$222.80M2026-08-14
Citadel Advisors LLC▲ Buy1,936,1820.50%$183.05M2026-09-02
Neuberger Berman Group LLC▼ Sell1,719,2660.44%$162.54M2026-08-13
Point72 Asset Management, L.P.▲ New1,606,1820.41%$151.85M2026-08-14
Balyasny Asset Management L.P.▲ Buy1,517,7900.39%$143.49M2026-08-14
D. E. Shaw & Co., Inc.▲ Buy1,165,1390.30%$110.15M2026-08-14
Wells Fargo & Company▲ Buy1,077,7640.28%$101.89M2026-08-14
Susquehanna International Group, LLP▲ Buy713,0440.18%$67.41M2026-08-14
Gotham Asset Management, LLC▼ Sell695,7080.18%$65.77M2026-08-14
Marshall Wace, LLP▼ Sell690,0860.18%$65.24M2026-08-13
Q2 2026 flow:89.23M sh bought ($1.23B)12.01M sh sold ($1.10B)net +77.23M sh (+$133.15M)
Congressional Trading Activity
7 disclosed trades · ~$80.5K est. traded value · 3 buys, 4 sells
MemberChamberStateTypeAmountTradedFiled
Gilbert CisnerosHouseCA31▲ Buy$15K - $50K2026-09-282026-10-12
Julie JohnsonHouseTX32▼ Sell$1K - $15K2025-04-012025-05-14
Rob BresnahanHousePA08▼ Sell$1K - $15K2025-02-252025-03-27
Julie JohnsonHouseTX32▲ Buy$1K - $15K2025-02-122025-03-12
Rob BresnahanHousePA08▼ Sell$1K - $15K2025-02-112025-03-07
Sheldon WhitehouseSenateRI▼ Sell$1K - $15K2018-09-282018-10-22
Sheldon WhitehouseSenateRI▲ Buy$1K - $15K2018-06-132018-07-13