ON Semiconductor Stock Outlook: Is Wall Street Bullish or Bearish?

ON Semiconductor Corporation (ON), headquartered in Scottsdale, Arizona, is a prominent player in the semiconductor industry. Valued at a market cap of $30.8 billion, the company focuses on intelligent sensing and power solutions, offering a diverse portfolio of discrete and embedded semiconductor components.

Shares of ON have underperformed the broader market over the past 52 weeks. ON has dipped 7.9% over this time frame, while the broader S&P 500 Index ($SPX) has rallied 36.4%. In 2024, ON is up 1.8%, compared to SPX's 25.2% gain on a YTD basis.