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Valued at $37.6 billion by market cap, ON Semiconductor Corporation (ON) is a leading semiconductor manufacturer specializing in intelligent power and sensing technologies. Headquartered in Scottsdale, Arizona, the company designs and produces a broad portfolio of power management, analog, discrete, and image sensing semiconductors used across the automotive, industrial, cloud infrastructure, and consumer electronics markets.
The leading semiconductor manufacturer is expected to announce its fiscal second-quarter earnings for 2026 in the near term. Ahead of the event, analysts expect ON to report a profit of $0.71 per share on a diluted basis, up 34% from $0.53 per share in the year-ago quarter. The company beat the consensus estimates in three of the last four quarters while missing the forecast on another occasion.
For the current year, analysts expect ON to report EPS of $3.09, up 31.5% from $2.35 in fiscal 2025. Its EPS is expected to rise 41.1% year over year to $4.36 in fiscal 2027.
ON stock has considerably outperformed the S&P 500 Index’s ($SPX) 20.6% gains over the past 52 weeks, with shares up 61.2% during this period. Similarly, it notably outperformed the State Street Technology Select Sector SPDR ETF’s (XLK) 44.6% returns over the same time frame.
ON Semiconductor shares climbed 7.3% on July 9 after semiconductor stocks rebounded on reports that China may ease restrictions on imports of NVIDIA Corporation’s (NVDA) AI chips, improving sentiment across the sector. Additional optimism came from strong institutional demand for AI memory chips, highlighted by the heavily oversubscribed U.S. ADR offering of SK Hynix, reinforcing confidence in long-term AI-driven semiconductor demand.
Analysts’ consensus opinion on ON stock is reasonably bullish, with a “Moderate Buy” rating overall. Out of 29 analysts covering the stock, 10 advise a “Strong Buy” rating, two suggest a “Moderate Buy,” and 17 give a “Hold.” ON’s mean price target of $111.20 implies an upswing potential of 15.9% from the current market prices.
