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ON Semiconductor/$ON

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About ON Semiconductor

Onsemi is a supplier of power semiconductors and sensors focused on the automotive and industrial markets. Onsemi is the second-largest power chipmaker in the world and one of the largest suppliers of image sensors to the automotive market. Its chips sell into vehicle drivetrains, automotive safety systems, energy infrastructure, industrial automation, and data centers. Onsemi manufactures most of its products in-house, vertically integrated from design to production. Its sales are split between direct and distribution, and it holds a global manufacturing and customer footprint.
Ticker
$ON
Sector
Semiconductors
Primary listing
NASDAQ
Employees
22,635

ON Semiconductor Metrics

BasicAdvanced
$34B
55.30
$1.56
2.00
-

What the Analysts think about ON Semiconductor

Analyst ratings (Buy, Hold, Sell) for ON Semiconductor stock.
Analyst projections of the future price of ON Semiconductor stock.

Bulls say / Bears say

AI data-centre revenue is now expected to more than double in 2026, with ON supplying power solutions across the rack rather than relying on one component. Its high-voltage silicon-carbide roadmap also targets the rising power demands of AI facilities and grid infrastructure. (Yahoo Finance, onsemi)
Operating leverage is beginning to show: Q2 free cash flow reached $425 million, utilisation rose to 83%, and management guided to 40–42% non-GAAP gross margin for Q3. FabRight actions and site divestitures are expected to add further savings as the footprint becomes more efficient. (GoodMoat, ON Semiconductor Corp Quarterly Earnings Report)
ON is gaining content even where vehicle markets are difficult: Chinese automotive revenue rose 13% in the first half despite a 4% fall in vehicle sales, and Chinese automotive silicon-carbide revenue is expected to grow 60–70% in 2026. New wins such as Rivian’s R2 platform and stronger energy-storage demand broaden the growth pipeline. (GoodMoat, Yahoo Finance)
AI data-centre growth is masking a less convincing core recovery: analysts still describe automotive and industrial trends as weak, while Q2 automotive revenue fell sequentially and traditional industrial markets remained soft. That leaves ON exposed if AI spending slows before the older businesses regain momentum. (Longbridge, Yahoo Finance)
The margin recovery still depends on higher factory utilisation: inventory stood at 192 days and utilisation was 83%, below the 92–93% level considered full. A slower demand recovery could leave ON carrying excess stock and under-absorbed manufacturing costs for longer. (GoodMoat, BBNS)
The proposed Synaptics acquisition adds integration and capital-allocation risk while ON is still reshaping its manufacturing base. Its latest filing describes a 650-employee reduction and further restructuring charges, so management must execute two complex programmes at the same time. (Longbridge, ON Semiconductor Corp Quarterly Earnings Report)
Data summarised monthly by Lightyear AI. Last updated on 16 Sept 2026.

ON Semiconductor Financial Performance

Revenues and expenses
Income statement
QuarterlyAnnual
Q3 24
QoQ growth
Revenue
Net income
Profit margin

ON Semiconductor Earnings Performance

Company profitability
Earnings per share
QuarterlyAnnual
Q4 23
Q1 24
Q2 24
Q3 24
Q4 24
Actual
Expected
Surprise

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