Barclays Raises onsemi (NASDAQ:ON) Price Target to $100.00

Key Points

• Barclays raised its price target on onsemi from $75 to $100 while keeping an "equal weight" rating, even as the stock traded around $103 — the street consensus remains a "Hold" with an average target of $86.04 (14 Buys, 15 Holds, 1 Sell).
• onsemi reported a Q1 beat (GAAP/non‑GAAP EPS $0.64 vs. $0.61 est., revenue $1.51B) and set Q2 guidance of $0.65–$0.77 while projecting AI data‑center revenue growth, and management plans to use part of convertible proceeds to repurchase up to $400M of stock.
• The company announced a proposed $1.3B convertible senior notes offering that could support buybacks but introduces potential dilution and hedging‑related volatility, and insiders have sold material stock (146,114 shares, ~$11.3M) over the last three months.

onsemi (NASDAQ:ON - Get Free Report) had its price target increased by Barclays from $75.00 to $100.00 in a report released on Wednesday,Benzinga reports. The firm presently has an "equal weight" rating on the semiconductor company's stock. Barclays's price objective would suggest a potential downside of 3.33% from the company's previous close.

Several other research firms have also weighed in on ON. Cantor Fitzgerald reiterated a "neutral" rating and issued a $60.00 price objective on shares of onsemi in a research note on Tuesday, February 10th. B. Riley Financial upgraded shares of onsemi from a "neutral" rating to a "buy" rating and set a $115.00 price target for the company in a research note on Thursday, April 23rd. Morgan Stanley boosted their price target on shares of onsemi from $85.00 to $87.00 and gave the company an "equal weight" rating in a research note on Tuesday. KeyCorp lifted their price objective on shares of onsemi from $65.00 to $75.00 and gave the stock an "overweight" rating in a report on Tuesday, February 10th. Finally, Benchmark downgraded shares of onsemi from a "buy" rating to a "hold" rating in a report on Tuesday, February 10th. Fourteen research analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $86.04.

onsemi Trading Up 0.8%

onsemi stock traded up $0.78 during mid-day trading on Wednesday, hitting $103.45. 9,610,209 shares of the stock were exchanged, compared to its average volume of 9,406,459. The company has a quick ratio of 2.98, a current ratio of 4.52 and a debt-to-equity ratio of 0.39. onsemi has a 12 month low of $37.56 and a 12 month high of $105.81. The firm's fifty day simple moving average is $70.39 and its two-hundred day simple moving average is $61.34. The stock has a market capitalization of $40.69 billion, a price-to-earnings ratio of 73.28, a PEG ratio of 1.04 and a beta of 1.94.

onsemi (NASDAQ:ON - Get Free Report) last released its quarterly earnings data on Monday, May 4th. The semiconductor company reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.61 by $0.03. The company had revenue of $1.51 billion during the quarter, compared to analyst estimates of $1.49 billion. onsemi had a net margin of 9.46% and a return on equity of 12.57%. onsemi's revenue for the quarter was up 4.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.55 EPS. onsemi has set its Q2 2026 guidance at 0.650-0.770 EPS. Analysts forecast that onsemi will post 2.9 EPS for the current year.

Insider Buying and Selling at onsemi

In other onsemi news, CFO Trent Thad sold 30,000 shares of the company's stock in a transaction dated Thursday, April 23rd. The shares were sold at an average price of $93.00, for a total transaction of $2,790,000.00. Following the sale, the chief financial officer directly owned 301,194 shares of the company's stock, valued at $28,011,042. This represents a 9.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Sudhir Gopalswamy sold 6,114 shares of the company's stock in a transaction dated Friday, March 13th. The shares were sold at an average price of $58.67, for a total transaction of $358,708.38. Following the sale, the insider directly owned 173,943 shares in the company, valued at approximately $10,205,235.81. This trade represents a 3.40% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 146,114 shares of company stock valued at $11,282,308 over the last three months. 0.35% of the stock is currently owned by insiders.

Institutional Trading of onsemi

A number of institutional investors have recently made changes to their positions in the stock. Ameriprise Financial Inc. boosted its stake in shares of onsemi by 7.7% during the second quarter. Ameriprise Financial Inc. now owns 12,205,996 shares of the semiconductor company's stock valued at $639,716,000 after purchasing an additional 877,533 shares during the period. Allspring Global Investments Holdings LLC lifted its stake in onsemi by 8.1% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 6,363,805 shares of the semiconductor company's stock worth $360,828,000 after acquiring an additional 474,725 shares during the period. Norges Bank purchased a new stake in onsemi in the fourth quarter worth $330,885,000. Rafferty Asset Management LLC lifted its stake in onsemi by 55.0% in the second quarter. Rafferty Asset Management LLC now owns 5,837,502 shares of the semiconductor company's stock worth $305,943,000 after acquiring an additional 2,072,125 shares during the period. Finally, Pictet Asset Management Holding SA lifted its stake in onsemi by 15.5% in the first quarter. Pictet Asset Management Holding SA now owns 4,597,886 shares of the semiconductor company's stock worth $284,495,000 after acquiring an additional 615,905 shares during the period. Hedge funds and other institutional investors own 97.70% of the company's stock.

onsemi News Roundup

Here are the key news stories impacting onsemi this week:

• Positive Sentiment: Q1 beat and bullish guidance — onsemi reported Q1 revenue ~$1.51B and non‑GAAP EPS $0.64, topped estimates, and guided Q2 EPS to $0.65–$0.77 while projecting AI data‑center revenue to double in 2026. That underpins the bullish narrative around SiC and data‑center power demand. Onsemi expects Q2 2026 EPS of 0.65-0.77 while projecting AI data center revenue to double
• Positive Sentiment: Buyback capacity built into capital plan — management plans to use part of the convertible proceeds to repurchase up to $400M of common stock concurrently with the offering, a near‑term support for shares. onsemi Announces Proposed Private Offering of $1.3 Billion of Convertible Senior Notes
• Positive Sentiment: Analyst upgrades fueling momentum — several firms raised targets and highlighted the AI/data‑center inflection (KeyBanc, Needham, Mizuho, Wells Fargo, others), driving buy-side interest and re‑rating interest in ON shares. On Semiconductor Just Called the Bottom: KeyBanc Hikes Price Target
• Neutral Sentiment: Convertible notes offering details — onsemi plans a $1.3B private offering of convertible senior notes due 2031 with associated convertible‑note‑hedge and warrant transactions. Proceeds will fund hedges, buybacks and general corporate purposes; hedging/warrant counterparties may transact in the stock, which can create both upward and downward pressure around pricing/hedge activity. onsemi Announces Proposed Private Offering of $1.3 Billion of Convertible Senior Notes
• Negative Sentiment: Overbought / downgrade chatter — some analysts and commentators warn the stock looks overbought after the run and expect a slower broad‑based recovery outside AI end markets; Seeking Alpha published a downgrade to Hold highlighting valuation and recovery timing risks. That narrative helps explain pullbacks even after good results. ON Semiconductor: Overbought Ahead Of Slow Fundamental Recovery, Downgrade To Hold
• Negative Sentiment: Insider selling and potential dilution concerns — recent filings show substantial insider sales and the convertible/warrant structure introduces potential dilution risk if warrants are exercised; hedge counterparties may trade shares as they establish or unwind hedges, adding volatility. onsemi Announces $1.3 Billion Convertible Notes Offering (TipRanks)

About onsemi

onsemi is engaged in disruptive innovations and also a supplier of power and analog semiconductors. The firm offers vehicle electrification and safety, sustainable energy grids, industrial automation, and 5G and cloud infrastructure, with a focus on automotive and industrial end-markets. It operates through the following segments: Power Solutions Group, Advanced Solutions Group, and Intelligent Sensing Group. The Power Solutions Group segment offers discrete, module, and semiconductor products that perform multiple application functions, including power switching, power conversion, signal conditioning, circuit protection, signal amplification, and voltage reference functions.

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