ON Semiconductor (NASDAQ:ON) Cut to Hold at Benchmark

Benchmark cut shares of ON Semiconductor (NASDAQ:ON) from a buy rating to a hold rating in a research note released on Tuesday, MarketBeat.com reports.

A number of other research firms also recently commented on ON. Evercore reissued an “outperform” rating on shares of ON Semiconductor in a research report on Wednesday, January 7th. Stifel Nicolaus increased their price objective on shares of ON Semiconductor from $50.00 to $60.00 and gave the company a “hold” rating in a research note on Friday, January 16th. Robert W. Baird lifted their price objective on shares of ON Semiconductor from $48.00 to $56.00 and gave the company a “neutral” rating in a report on Tuesday, November 4th. Cfra reissued a “buy” rating and issued a $64.00 price objective on shares of ON Semiconductor in a research note on Tuesday, November 4th. Finally, Bank of America increased their target price on ON Semiconductor from $60.00 to $65.00 and gave the company a “neutral” rating in a research report on Wednesday, January 21st. Twelve investment analysts have rated the stock with a Buy rating, seventeen have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $64.19.

ON Semiconductor Trading Down 0.8%

ON opened at $70.63 on Tuesday. The company has a quick ratio of 3.54, a current ratio of 4.52 and a debt-to-equity ratio of 0.39. The stock’s fifty day moving average is $59.30 and its two-hundred day moving average is $53.32. The company has a market capitalization of $27.83 billion, a P/E ratio of 207.74, a PEG ratio of 0.76 and a beta of 1.56. ON Semiconductor has a 52 week low of $31.04 and a 52 week high of $73.63.

ON Semiconductor (NASDAQ:ON) last issued its earnings results on Monday, February 9th. The semiconductor company reported $0.64 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.02. The business had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.54 billion. ON Semiconductor had a return on equity of 12.22% and a net margin of 2.02%.The business’s revenue for the quarter was down 11.2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.95 EPS. ON Semiconductor has set its Q1 2026 guidance at 0.560-0.660 EPS. Analysts forecast that ON Semiconductor will post 2.6 earnings per share for the current year.

ON Semiconductor declared that its Board of Directors has approved a stock repurchase program on Tuesday, November 18th that authorizes the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization authorizes the semiconductor company to repurchase up to 32.7% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its stock is undervalued.

Insider Activity at ON Semiconductor

In other news, CFO Trent Thad sold 60,000 shares of the firm’s stock in a transaction on Thursday, February 12th. The stock was sold at an average price of $71.22, for a total transaction of $4,273,200.00. Following the completion of the transaction, the chief financial officer directly owned 339,460 shares in the company, valued at $24,176,341.20. This trade represents a 15.02% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Hassane El-Khoury sold 20,000 shares of the business’s stock in a transaction on Thursday, February 12th. The shares were sold at an average price of $73.02, for a total value of $1,460,400.00. Following the completion of the sale, the chief executive officer owned 1,015,610 shares in the company, valued at $74,159,842.20. This represents a 1.93% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 100,000 shares of company stock valued at $6,834,600 in the last quarter. 0.31% of the stock is owned by insiders.

Institutional Investors Weigh In On ON Semiconductor

Large investors have recently bought and sold shares of the stock. Norges Bank purchased a new position in ON Semiconductor in the second quarter valued at $228,835,000. Fisher Funds Management LTD boosted its position in shares of ON Semiconductor by 42.0% during the 3rd quarter. Fisher Funds Management LTD now owns 87,729 shares of the semiconductor company’s stock worth $4,326,000 after acquiring an additional 25,949 shares in the last quarter. Polianta Ltd purchased a new position in shares of ON Semiconductor in the 3rd quarter valued at about $1,420,000. Merit Financial Group LLC increased its holdings in shares of ON Semiconductor by 75.2% in the 3rd quarter. Merit Financial Group LLC now owns 51,748 shares of the semiconductor company’s stock valued at $2,552,000 after acquiring an additional 22,211 shares during the last quarter. Finally, Rakuten Investment Management Inc. acquired a new stake in shares of ON Semiconductor during the 3rd quarter worth about $5,327,000. Hedge funds and other institutional investors own 97.70% of the company’s stock.

Key ON Semiconductor News

Here are the key news stories impacting ON Semiconductor this week:

• Positive Sentiment: Q4 results, record free cash flow and a large buyback program underpin the bullish case — management beat EPS expectations, highlighted record FCF and the board authorized an additional $6 billion in buybacks (supporting share returns and potential supply reduction). Onsemi Is Near a Breakout—And Free Cash Flow Could Fuel It
• Positive Sentiment: Several analyst houses raised targets or reiterated conviction after the quarter (JPMorgan, Truist, Rosenblatt raised targets), which can attract momentum buyers and institutional support. JPMorgan Increases ON Semiconductor Price Target to $70
• Neutral Sentiment: Barclays initiated coverage with an Equalweight rating — a neutral institutional entry that adds liquidity/coverage but doesn’t signal strong directional conviction. Barclays initiates ON Semiconductor coverage
• Neutral Sentiment: Analyst commentary is mixed overall — some price-target raises and upbeat takeaways on recovery and margins, while a handful of shops trimmed ratings/targets. That creates two-sided analyst flow and keeps the story market-sensitive. Seeking Alpha: ON Semiconductor – Reiterate Buy Upon Correction
• Negative Sentiment: Insider selling by top executives: CFO Trent Thad sold 60,000 shares (~$4.27M) and CEO Hassane El?Khoury sold 20,000 shares (~$1.46M) this week — sizable insider disposals can signal personal liquidity or reduce near-term conviction and may pressure sentiment. CFO Trent Thad SEC filing CEO Hassane El?Khoury SEC filing
• Negative Sentiment: Top-line pressure and risk disclosures remain: revenue is still below year-ago levels and management flagged strategic/legal/cyber risks related to AI integration — these keep execution risk elevated while the market awaits durable revenue recovery. Q4 2025 earnings call transcript

ON Semiconductor Company Profile

ON Semiconductor, which operates under the onsemi brand, is a global supplier of semiconductor components and related solutions. The company designs, manufactures and sells a broad portfolio that includes power and analog devices, discrete components, sensors and custom mixed-signal products. Its offerings are used to manage, convert and sense electrical power and signals across a wide range of electronic systems.

ON Semiconductor serves customers in key end markets such as automotive, industrial, cloud power and communications, as well as consumer and computing applications.