ON Semiconductor (NASDAQ:ON) Earns Equal Weight Rating from Analysts at Barclays

Barclays assumed coverage on shares of ON Semiconductor (NASDAQ:ON) in a research report sent to investors on Thursday morning, Marketbeat Ratings reports. The firm issued an equal weight rating and a $75.00 target price on the semiconductor company’s stock.

ON has been the topic of several other research reports. Wells Fargo & Company increased their target price on ON Semiconductor from $70.00 to $72.00 and gave the stock an “overweight” rating in a research report on Tuesday. Bank of America boosted their price objective on ON Semiconductor from $60.00 to $65.00 and gave the company a “neutral” rating in a research note on Wednesday, January 21st. Needham & Company LLC raised their target price on ON Semiconductor from $68.00 to $72.00 and gave the stock a “buy” rating in a research note on Tuesday, February 10th. Weiss Ratings cut ON Semiconductor from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, January 30th. Finally, Robert W. Baird increased their price target on shares of ON Semiconductor from $48.00 to $56.00 and gave the stock a “neutral” rating in a report on Tuesday, November 4th. Twelve equities research analysts have rated the stock with a Buy rating, seventeen have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $64.19.

ON Semiconductor Trading Up 2.2%

Shares of ON opened at $72.21 on Thursday. ON Semiconductor has a fifty-two week low of $31.04 and a fifty-two week high of $73.63. The business has a 50-day moving average of $59.65 and a 200 day moving average of $53.38. The firm has a market cap of $28.45 billion, a P/E ratio of 212.39, a price-to-earnings-growth ratio of 0.77 and a beta of 1.56. The company has a debt-to-equity ratio of 0.39, a quick ratio of 3.54 and a current ratio of 4.52.

ON Semiconductor (NASDAQ:ON) last issued its earnings results on Monday, February 9th. The semiconductor company reported $0.64 earnings per share for the quarter, topping analysts’ consensus estimates of $0.62 by $0.02. ON Semiconductor had a net margin of 2.02% and a return on equity of 12.22%. The firm had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.54 billion. During the same quarter last year, the business earned $0.95 earnings per share. The company’s quarterly revenue was down 11.2% on a year-over-year basis. ON Semiconductor has set its Q1 2026 guidance at 0.560-0.660 EPS. As a group, research analysts forecast that ON Semiconductor will post 2.6 EPS for the current year.

ON Semiconductor declared that its board has authorized a stock buyback program on Tuesday, November 18th that authorizes the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization authorizes the semiconductor company to repurchase up to 32.7% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.

Insider Buying and Selling

In other news, CEO Hassane El-Khoury sold 20,000 shares of the stock in a transaction on Thursday, February 12th. The shares were sold at an average price of $73.02, for a total value of $1,460,400.00. Following the transaction, the chief executive officer owned 1,015,610 shares of the company’s stock, valued at $74,159,842.20. This represents a 1.93% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Trent Thad sold 60,000 shares of the firm’s stock in a transaction on Thursday, February 12th. The shares were sold at an average price of $71.22, for a total transaction of $4,273,200.00. Following the sale, the chief financial officer owned 339,460 shares in the company, valued at approximately $24,176,341.20. This trade represents a 15.02% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 100,000 shares of company stock worth $6,834,600 over the last ninety days. 0.31% of the stock is currently owned by insiders.

Hedge Funds Weigh In On ON Semiconductor

Institutional investors have recently modified their holdings of the company. Norges Bank bought a new stake in ON Semiconductor in the 4th quarter worth approximately $330,885,000. Two Sigma Investments LP lifted its holdings in shares of ON Semiconductor by 636.1% in the 3rd quarter. Two Sigma Investments LP now owns 3,749,751 shares of the semiconductor company’s stock worth $184,900,000 after acquiring an additional 3,240,375 shares during the last quarter. Rafferty Asset Management LLC boosted its stake in shares of ON Semiconductor by 55.0% in the 2nd quarter. Rafferty Asset Management LLC now owns 5,837,502 shares of the semiconductor company’s stock valued at $305,943,000 after purchasing an additional 2,072,125 shares in the last quarter. Marshall Wace LLP grew its holdings in shares of ON Semiconductor by 23,784.8% during the 4th quarter. Marshall Wace LLP now owns 1,716,122 shares of the semiconductor company’s stock valued at $92,928,000 after purchasing an additional 1,708,937 shares during the last quarter. Finally, M&G PLC raised its position in ON Semiconductor by 164.2% in the 2nd quarter. M&G PLC now owns 2,459,104 shares of the semiconductor company’s stock worth $127,873,000 after purchasing an additional 1,528,311 shares during the period. 97.70% of the stock is currently owned by institutional investors.

Key Headlines Impacting ON Semiconductor

Here are the key news stories impacting ON Semiconductor this week:

• Positive Sentiment: Q4 results beat EPS expectations, management highlighted record free cash flow and the board authorized an incremental $6.0B repurchase program — a structural support for the share price and a likely driver of momentum buying. Onsemi Is Near a Breakout—And Free Cash Flow Could Fuel It
• Positive Sentiment: Several analysts raised targets or issued supportive notes after the quarter (JPMorgan, Truist, Rosenblatt among others), which can attract institutional buying and underpin upside. JPMorgan Increases ON Semiconductor Price Target to $70
• Neutral Sentiment: Barclays initiated coverage with an Equal‑weight rating — increases coverage/liquidity but is not a directional endorsement. Barclays initiates ON Semiconductor coverage
• Neutral Sentiment: Analyst views are mixed overall (some raises, some trims) — that produces two‑way flows and makes the stock sensitive to near‑term execution updates. Seeking Alpha: ON Semiconductor – Reiterate Buy Upon Correction
• Negative Sentiment: Insider selling by senior executives this week — CEO Hassane El‑Khoury and CFO Trent Thad sold sizable blocks (20k and 60k shares respectively). Large insider disposals can weigh on sentiment and prompt short‑term selling. ON Semiconductor CEO Hassane El‑Khoury Sells 20,000 Shares
• Negative Sentiment: Top‑line remains pressured: revenue declined year‑over‑year and management flagged execution/market risks — investors will be watching whether revenue recovery accelerates to justify the current premium valuation. Q4 2025 earnings call transcript

ON Semiconductor Company Profile

ON Semiconductor, which operates under the onsemi brand, is a global supplier of semiconductor components and related solutions. The company designs, manufactures and sells a broad portfolio that includes power and analog devices, discrete components, sensors and custom mixed-signal products. Its offerings are used to manage, convert and sense electrical power and signals across a wide range of electronic systems.

ON Semiconductor serves customers in key end markets such as automotive, industrial, cloud power and communications, as well as consumer and computing applications.