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ON Semiconductor Corporation

ON · NASDAQ

Market open$87.55$-0.570000 (-0.65%)

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 cap34.07B
Volume5.36M
Average volume13.16M
P/E ratio35.88
Forward P/E17.52
EPS2.44
Dividend yield0.00%

Market context

Why it moved

ON Semiconductor managed modest gains despite a broad global chip selloff, as the stock recovered within its wide day range amid sector rotation and geopolitical-driven oil price increases, with investors finding selective buying opportunities in semiconductors even as broader AI-related chip concerns weighed on peers.

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What is happening

Recent company-specific developments and publisher coverage.

July 17, 2026ON Semiconductor is trading modestly lower, consolidating after a dramatic run-up, as a broad semiconductor sector selloff driven by AI valuation concerns weighs on the group. The chip sector has shed roughly $3.3 trillion in market cap since late June amid investor concerns over elevated valuations and rising AI infrastructure costs — underscored by TSMC's capex guidance hike to $60–$64B and a sector-wide rotation out of AI names. For ON specifically, the stock remains in focus following its June 25 announcement of a ~$7B all-stock acquisition of Synaptics, which initially sent shares down 9% after-hours but has since been absorbed by a broader recovery tied to ON's Q1 2026 earnings inflection — its first year-over-year revenue growth since 2023 — and surging AI data center segment revenue.

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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.

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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.

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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.

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Simply Wall Street · July 17, 2026Is ON Semiconductor (ON) Fairly Valued After Its $7b Deal?PR Newswire · July 16, 2026INVESTOR ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of ON Semiconductor Corporation - ONSchaeffer's Investment Research · July 15, 2026Semiconductor Stock Could Continue to Test Key Resistance
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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