ON Semiconductor
Power, analog, and sensing semiconductors for vehicles, factories, energy systems, and AI data centers.
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Profile
Designs and manufactures silicon-carbide and silicon power devices, analog and mixed-signal chips, and imaging sensors for automotive, industrial, energy-infrastructure, and AI data-center customers. Semiconductor sales drive nearly all revenue, while automotive and industrial applications account for most demand and manufacturing spans owned facilities and outside contractors.
Designs and manufactures power, analog, mixed-signal, and imaging semiconductors for automotive, industrial, energy-infrastructure, and AI data-center systems. Power Solutions Group supplies silicon and silicon-carbide switches, diodes, modules, and vertical gallium-nitride devices. Analog and Mixed-Signal Group adds power-management, gate-driver, interface, connectivity, logic, and Treo platform products, while Intelligent Sensing Group develops CMOS image sensors, processors, short-wave infrared sensors, and photon-counting devices.
Earns almost all revenue by selling chips through distributors and directly to customers worldwide, with automotive and industrial applications generating most sales. Vertically integrated silicon-carbide production and a global factory network support power-device supply, while outside contractors handle selected manufacturing steps.
Depends on automotive and industrial demand, distributor performance, factory utilization, export controls, and environmental regulation. Planned divestitures continue the Fab Right manufacturing realignment; a proposed Synaptics acquisition remains subject to shareholder and regulatory approvals.
Company facts
Key statistics
Year to date +28.0% · Average volume (30d) 8.8M
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Rating | Prior target | Target |
|---|---|---|---|---|---|
| Aug 12, 2026 | Truist Financial | Target | $91 | $40 | |
| Aug 12, 2026 | Bernstein | Reiterate | Outperform | $62 | |
| Aug 5, 2026 | Truist Financial | Target | $51 | $91 | |
| Aug 4, 2026 | Needham | Reiterate | Buy | $130 | $116 |
| Jul 31, 2026 | Cantor Fitzgerald | Reiterate | Neutral | $110 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Aug 3, 2026Q2 FY26 | $0.72 | $0.74 | +3.5% | $1.59B | $1.60B | +0.9% | +0.47% |
| May 4, 2026Q1 FY26 | $0.61 | $0.64 | +4.4% | $1.49B | $1.51B | +1.7% | +0.62% |
| Feb 9, 2026Q4 FY25 | $0.62 | $0.64 | +2.6% | $1.54B | $1.53B | −0.4% | +3.50% |
| Nov 3, 2025Q3 FY25 | $0.59 | $0.63 | +6.8% | $1.52B | $1.55B | +2.2% | −4.32% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $1.45B | $1.47B | $1.55B | $1.53B | $1.51B | $1.60B | |
| Gross profit | $293.8M | $551.9M | $587.2M | $534.3M | $583.1M | $616.3M | |
| Operating income | −$573.7M | $193.4M | $264.4M | $253.0M | −$53.4M | $258.6M | |
| Net income | −$486.1M | $170.3M | $255.0M | $181.8M | −$33.4M | $226.8M | |
| Diluted EPS | −$1.15 | $0.41 | $0.63 | $0.45 | −$0.08 | $0.56 | |
| Gross margin | 20.3% | 37.6% | 37.9% | 34.9% | 38.5% | 38.4% | |
| Operating margin | -39.7% | 13.2% | 17.0% | 16.5% | -3.5% | 16.1% |
Fiscal years (4-quarter sums)FY21 $6.74B · FY22 $8.33B · FY23 $8.25B · FY24 $7.08B · FY25 $6.00B
Revenue by product · Q2 FY26
Revenue by geography · Q2 FY26
Balance sheet, Jul 3, 2026Cash & short-term investments $3.86B · Total debt $4.48B · Total assets $13.49B · Shareholders' equity $7.22B
Dividends
No dividends on record.
Ownership
Shares outstanding 389.31M · Float 387.57M · 99.6% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| FMR LLC | 56.68M | 14.56% | 13F | Aug 13, 2026 |
| BlackRock, Inc. | 40.98M | 10.53% | 13F | Aug 7, 2026 |
| Vanguard Capital Management LLC | 25.62M | 6.58% | 13F | Aug 13, 2026 |
| Vanguard Portfolio Management LLC | 19.64M | 5.04% | 13F | Aug 13, 2026 |
| State Street Corp | 18.56M | 4.77% | 13F | Aug 7, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Apr 24, 2026 | Trent Thad | officer: Exec VP & CFO | −30,000 | $100.00 |
| Apr 23, 2026 | Trent Thad | officer: Exec VP & CFO | −30,000 | $93.00 |
| Apr 16, 2026 | Trent Thad | officer: Exec VP & CFO | −30,000 | $80.00 |
| Mar 13, 2026 | Sudhir Gopalswamy | officer: Group President, AMG & ISG | −6,114 | $58.67 |
| Feb 17, 2026 | Simon Keeton | officer: Group President, PSG | −48,860 | $71.75 |
Peers
- STMicroelectronics (ADR)
SiC pioneer and market share leader; competes in SiC, IGBT, analog, and MCUs.
- Texas Instruments
World's largest analog company; competes in power management and signal chain.
- Analog Devices
High-performance analog leader; competes in automotive sensing and power ICs.
- Wolfspeed
SiC pure-play pioneer; rivals onsemi in SiC substrates and power MOSFETs.
- Sony (ADR)
Dominant image sensor supplier; rivals onsemi ISG in automotive vision sensing.
- NXP Semiconductors
Automotive MCU and analog leader; competes in SDV systems and mixed-signal ICs.
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| ON Semiconductor | $72.80 | +0.29% | $28.27B | 46.5 | 18.6 | 4.6 | +9.2% |
| STMicroelectronics (ADR) | $49.33 | −0.10% | $44.07B | 96.8 | 24.8 | 3.3 | +24.4% |
| Texas Instruments | $258.44 | −0.09% | $236.20B | 39.3 | 27.2 | 12.1 | +22.8% |
| Analog Devices | $362.00 | +0.02% | $176.22B | 42.9 | 22.6 | 12.7 | +39.6% |
| Wolfspeed | $25.65 | −0.70% | $1.34B | — | — | 2.0 | −24.1% |
| Sony (ADR) | $24.71 | −0.56% | $145.93B | — | 28.9 | 1.8 | −1.6% |
| NXP Semiconductors | $223.80 | +0.18% | $56.38B | 19.1 | 13.3 | 4.3 | +19.5% |
| Median | 41.1 | 24.8 | 3.8 | +21.2% |