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ON Semiconductor Corporation

ON · NASDAQ

Market closed$87.37$-0.750000 (-0.85%)After hours $87.34 · -0.03%

Key statistics

Previous close$88.12
Open$84.65
Day high$90.00
Day low$83.35
52-week high$134.92
52-week low$44.56
Market cap34.00B
Volume9.58M
Average volume13.11M
P/E ratio35.81
Forward P/E17.48
EPS2.44
Dividend yield0.00%

Market context

Why it moved

ON Semiconductor declined as a broad semiconductor and AI-related tech selloff swept global markets, driven by growing investor concerns that chip valuations have overextended amid fears that AI spending growth may be unsustainable.

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What is happening

Recent company-specific developments and publisher coverage.

July 18, 2026ON Semiconductor closed modestly lower as the broader semiconductor sector faced its sharpest multi-week correction in recent memory, with the PHLX Semiconductor Index down nearly 20% from its late-June record high. The sector selloff has been driven by TSMC's higher-than-expected capex guidance, AI valuation concerns, and escalating U.S.-Iran geopolitical tensions. Adding to ON's specific overhang is its June 25 announcement of a $7 billion all-stock acquisition of Synaptics — a deal that initially sent ON shares down 9% after-hours and continues to weigh on sentiment as investors assess integration risk and dilution from issuing roughly 12% of the combined company to Synaptics shareholders.

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July 17, 2026ON Semiconductor tumbled nearly 5%, underperforming the broader technology sector as a wave of semiconductor profit-taking swept through markets despite TSMC reporting a 77% surge in Q2 profits. The selloff reflects sector-wide valuation anxiety — investors are questioning whether AI-driven chip valuations have run too far ahead of fundamentals, with the Philadelphia Semiconductor Index now down over 11% from its June record. For onsemi specifically, the macro pressure compounds existing investor concerns around its pending $7 billion all-stock acquisition of Synaptics, announced in late June, which has weighed on shares due to dilution and execution risk. The XLK technology ETF fell roughly 0.5%, while onsemi's steeper decline signals continued stock-specific headwinds as the market awaits clarity on the Synaptics deal timeline and onsemi's next earnings report.

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July 16, 2026ON Semiconductor closed modestly lower, underperforming a mixed broader market as chip stocks faced renewed selling pressure despite ASML's strong quarterly earnings and softer-than-expected June PPI data. The decline follows a turbulent stretch for onsemi specifically, with investors still digesting its ~$7 billion all-stock acquisition of Synaptics announced June 25 and its July 7 'Fab Right' plan to divest two manufacturing facilities—moves that have raised execution and dilution concerns. The broader semiconductor sector remains volatile, with the Philadelphia Semiconductor Index down roughly 11% from its June record high amid profit-taking, rising short interest, and questions about AI cycle durability ahead of Big Tech earnings.

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July 15, 2026ON Semiconductor rallied after a cooler-than-expected June CPI report — which showed headline inflation dropping to 3.5% — sparked a broader semiconductor rebound, with onsemi and Microchip Technology cited among stocks jumping in the afternoon session on the inflation data and a surprise capital expenditure announcement. The gains came a day after onsemi had fallen nearly 6% amid a broad chip selloff triggered by SK Hynix's post-Nasdaq-debut plunge and AI trade concerns, with the stock also still digesting its all-stock $7 billion acquisition of Synaptics announced June 25 and a July 7 plan to divest two manufacturing facilities under its 'Fab Right' restructuring strategy. Wall Street's median price target on $ON stands at $112.50 across 22 analyst estimates over the past six months.

3.718

July 14, 2026ON Semiconductor tumbled nearly 6% as a broad semiconductor sector selloff swept Wall Street, compounded by a company-specific analyst action. TD Cowen cut its price target on ON Semiconductor to $95 from $110 while maintaining a Hold rating, reflecting tempered near-term expectations. The sector-wide pressure stemmed from SK Hynix's 15% plunge in South Korea — dragging memory and chip peers lower globally — alongside geopolitical unease after renewed U.S.-Iran strikes sent oil prices surging ~5%, rattling equity sentiment ahead of a pivotal week of Q2 earnings and inflation data.

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July 11, 2026ON Semiconductor shares declined nearly 2% Friday, underperforming the broader semiconductor sector, which managed modest gains as NVIDIA rose over 3% and the XLK tech ETF held relatively steady. The pullback follows a strong Thursday session in which ON Semi added 4.4% alongside a broad chip rally driven by analyst upgrades for ARM and AMD, but the stock gave back much of that gain as investors weighed broader sector headwinds — including peak-cycle fears sparked by Samsung's record earnings reaction and ongoing U.S.-Iran geopolitical tensions. Susquehanna maintained a Positive rating on ON Semi and raised its price target to $150, though that catalyst was insufficient to sustain Friday's momentum amid sector-wide volatility and cautious sentiment ahead of Q2 earnings season.

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July 10, 2026ON Semiconductor surged over 4% as semiconductor stocks staged a broad rebound, with the Philadelphia Semiconductor Index jumping roughly 5% on the session. The rally came after a sector-wide selloff earlier in the week triggered by Samsung's record earnings that still disappointed lofty AI spending expectations. Contributing to the recovery, Susquehanna raised its price target on ON Semiconductor to $150 (from $140), maintaining a Positive rating. Investors also continued to reassess the company's $7 billion all-stock acquisition of Synaptics, announced June 25, which management framed as a strategic expansion into edge and physical AI markets — with Q2 guidance reiterated to signal near-term stability.

4.3501

July 9, 2026ON Semiconductor closed up nearly 3%, rebounding sharply alongside a broader semiconductor recovery after the sector suffered steep losses Tuesday when Samsung's record earnings failed to satisfy lofty AI expectations. The recovery came despite a challenging macro backdrop — geopolitical tensions in the Middle East and a broader semiconductor selloff had weighed heavily on chip names Tuesday. Investor sentiment around onsemi is also shaped by its pending $7 billion all-stock acquisition of Synaptics, announced June 25, which triggered a 23%+ drop; Cantor Fitzgerald raised its price target to $110, and the analyst median target sits at $112.50, suggesting meaningful upside from current levels.

2.9528

Mt Newswire · July 13, 2026TD Cowen Adjusts ON Semiconductor Price Target to $95 From $110, Maintains Hold Rating
Benzinga · July 9, 2026Susquehanna Maintains Positive on ON Semiconductor, Raises Price Target to $150
Mt Newswire · July 8, 2026Cantor Fitzgerald Adjusts Price Target on ON Semiconductor to $110 From $100
Mt Newswire · July 7, 2026ON Semiconductor to Divest Two Manufacturing Facilities
Benzinga · July 7, 2026ON Semiconductor Divests Manufacturing Facilities In The Philippines And Pennsylvania To Improve Its Manufacturing Cost Structure
Benzinga · July 1, 2026Mizuho Maintains Outperform on ON Semiconductor, Lowers Price Target to $125
Mt Newswire · July 1, 2026Mizuho Securities Cuts ON Semiconductor Price Target to $125 From $150, Maintains Outperform Rating
Mt Newswire · June 29, 2026ON Semiconductor, Synaptics Combined Entity Likely to Pursue Physical AI Content Opportunities, UBS Says

Peers

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