onsemi (NASDAQ:ON) Updates Q3 2026 Earnings Guidance

onsemi (NASDAQ:ON) issued an update on its third quarter 2026 earnings guidance on Monday. The company provided EPS guidance of 0.810-0.930 for the period, compared to the consensus estimate of 0.830. The company issued revenue guidance of $1.7 billion-$1.8 billion, compared to the consensus revenue estimate of $1.7 billion.

Analyst Ratings Changes

ON has been the topic of several recent analyst reports. Robert W. Baird increased their target price on onsemi from $56.00 to $100.00 and gave the company a “neutral” rating in a report on Tuesday, May 5th. Barclays boosted their price target on shares of onsemi from $75.00 to $100.00 and gave the stock an “equal weight” rating in a research note on Wednesday, May 6th. Rosenblatt Securities boosted their target price on shares of onsemi from $60.00 to $85.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 5th. JPMorgan Chase & Co. raised their price target on onsemi from $70.00 to $100.00 and gave the company a “neutral” rating in a research report on Tuesday, May 5th. Finally, Cantor Fitzgerald reissued a “neutral” rating and issued a $110.00 price objective on shares of onsemi in a research note on Friday. Fourteen equities research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $102.24.

onsemi Trading Down 1.5%

Shares of onsemi stock opened at $80.40 on Tuesday. The firm has a market cap of $31.51 billion, a PE ratio of 57.02, a P/E/G ratio of 0.90 and a beta of 2.03. The company has a quick ratio of 3.14, a current ratio of 4.87 and a debt-to-equity ratio of 0.41. onsemi has a fifty-two week low of $44.56 and a fifty-two week high of $134.92. The business’s fifty day moving average is $104.28 and its two-hundred day moving average is $85.07.

onsemi (NASDAQ:ON) last issued its quarterly earnings results on Monday, August 3rd. The semiconductor company reported $0.74 EPS for the quarter, topping the consensus estimate of $0.72 by $0.02. The firm had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.59 billion. onsemi had a net margin of 9.46% and a return on equity of 12.79%. onsemi’s revenue for the quarter was up 9.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.53 earnings per share. onsemi has set its Q3 2026 guidance at 0.810-0.930 EPS. Analysts anticipate that onsemi will post 3.09 earnings per share for the current year.

onsemi News Summary

Here are the key news stories impacting onsemi this week:

• Positive Sentiment: Q2 earnings and revenue exceeded expectations. onsemi reported adjusted EPS of $0.74 versus the $0.72 consensus estimate and revenue of approximately $1.604 billion versus expectations of $1.59 billion. Revenue increased 9% year over year, while adjusted gross margin reached 39.3%. onsemi Reports Second Quarter 2026 Results
• Positive Sentiment: AI data-center demand is becoming a meaningful growth driver. Management said it is prioritizing AI infrastructure customers and expects data-center revenue to more than double in 2026. The company highlighted rising demand for high-voltage power solutions and other products used in AI applications. ON Semiconductor Shifts Capacity to AI Data Centers
• Positive Sentiment: Cash generation and shareholder returns improved sharply. Operating cash flow rose 150% year over year, free cash flow reached $425.4 million and onsemi repurchased $332 million of stock during the quarter. Stocks to Watch: ON Semiconductor
• Neutral Sentiment: Third-quarter guidance was broadly encouraging but not a major upside surprise. onsemi projected adjusted EPS of $0.81–$0.93 and revenue near $1.7 billion, roughly in line with analyst expectations. The midpoint implies continued sequential growth, but investors may have wanted a larger forecast increase given the AI enthusiasm.
• Negative Sentiment: AI growth requires reallocating capacity away from automotive and industrial customers. Automotive remains a major part of onsemi’s business, so prioritizing data centers could raise concerns about near-term automotive sales, customer relationships and the pace of the broader cyclical recovery.
• Negative Sentiment: Analysts remain cautious on the risk-reward profile. Baird raised its price target to $108 from $100 but maintained a Hold rating, citing margin tailwinds that are partly offset by competitive pressures. With the stock trading well above its 200-day average and at a relatively high earnings multiple, the results may have been largely anticipated. ON Semi Price Target Raised to $108

Institutional Trading of onsemi

Hedge funds and other institutional investors have recently modified their holdings of the business. Ameriprise Financial Inc. boosted its holdings in onsemi by 7.7% in the second quarter. Ameriprise Financial Inc. now owns 12,205,996 shares of the semiconductor company’s stock valued at $639,716,000 after purchasing an additional 877,533 shares during the last quarter. Rafferty Asset Management LLC raised its position in shares of onsemi by 55.0% in the 2nd quarter. Rafferty Asset Management LLC now owns 5,837,502 shares of the semiconductor company’s stock valued at $305,943,000 after purchasing an additional 2,072,125 shares in the last quarter. Two Sigma Investments LP boosted its stake in shares of onsemi by 636.1% during the 3rd quarter. Two Sigma Investments LP now owns 3,749,751 shares of the semiconductor company’s stock valued at $184,900,000 after buying an additional 3,240,375 shares during the last quarter. Voloridge Investment Management LLC increased its position in shares of onsemi by 53.3% in the 3rd quarter. Voloridge Investment Management LLC now owns 3,331,427 shares of the semiconductor company’s stock worth $164,273,000 after purchasing an additional 1,157,962 shares during the last quarter. Finally, Legal & General Group Plc grew its holdings in onsemi by 3.0% in the 3rd quarter. Legal & General Group Plc now owns 2,836,802 shares of the semiconductor company’s stock worth $139,883,000 after buying an additional 83,107 shares in the last quarter. 97.70% of the stock is owned by hedge funds and other institutional investors.

onsemi Company Profile

onsemi is engaged in disruptive innovations and also a supplier of power and analog semiconductors. The firm offers vehicle electrification and safety, sustainable energy grids, industrial automation, and 5G and cloud infrastructure, with a focus on automotive and industrial end-markets. It operates through the following segments: Power Solutions Group, Advanced Solutions Group, and Intelligent Sensing Group. The Power Solutions Group segment offers discrete, module, and semiconductor products that perform multiple application functions, including power switching, power conversion, signal conditioning, circuit protection, signal amplification, and voltage reference functions.