ON Semiconductor Stock: Is Wall Street Bullish or Bearish?

Scottsdale, Arizona-based ON Semiconductor Corporation (ON) operates as an equipment manufacturer of a broad range of discrete & embedded semiconductor components. With a market cap of $24.3 billion, ON operates through Power Solutions Group, Analog and Mixed-Signal Group, and Intelligent Sensing Group segments.

The semiconductor components manufacturer has significantly underperformed the broader market over the past year. ON stock has dropped 10.6% on a YTD basis and 23.8% over the past 52 weeks, lagging behind the S&P 500 Index’s ($SPX) 7.8% gains in 2025 and 16.6% returns over the past year.