Is Wall Street Bullish or Bearish on On Semiconductor Stock?

On Semiconductor Corporation (ON), with a market cap of around $32 billion, operates in the semiconductor industry, providing intelligent sensing and power solutions globally. Based in Scottsdale, Arizona, it specializes in power management, analog, and sensor products for automotive, industrial, and consumer markets.

Shares of On Semiconductor have significantly underperformed the broader market over the past 52 weeks. ON has declined 13.6% over this time frame, while the broader S&P 500 Index ($SPX) has rallied 26.6%. In 2024 alone, shares of ON are down 12.8%, compared to SPX's 11.3% gains on a YTD basis.