ON Semiconductor (NASDAQ:ON) Rating Increased to Buy at B. Riley Financial

Key Points

• B. Riley Financial upgraded ON Semiconductor to a "buy" and set a $115 price target, implying roughly a 29% upside from the prior close.
• ON slightly beat EPS ($0.64 vs. $0.62) but reported revenue down 11.2% year‑over‑year and provided Q1 2026 EPS guidance of $0.56–$0.66, while the stock trades at an elevated P/E (~261.7) and the consensus analyst rating remains "Hold" with a $67.15 target.
• Insiders (including the CEO and CFO) recently sold shares — 116,114 shares sold over the last quarter — even as institutional ownership is high (97.7%) and hedge funds have been adding positions, reflecting mixed investor signals.

ON Semiconductor (NASDAQ:ON - Get Free Report) was upgraded by investment analysts at B. Riley Financial from a "neutral" rating to a "buy" rating in a research note issued to investors on Thursday, Marketbeat reports. The firm currently has a $115.00 price objective on the semiconductor company's stock. B. Riley Financial's target price points to a potential upside of 29.23% from the company's previous close.

A number of other research analysts also recently weighed in on the company. Evercore reiterated an "outperform" rating on shares of ON Semiconductor in a report on Wednesday, January 7th. Cantor Fitzgerald reiterated a "neutral" rating and set a $60.00 price target on shares of ON Semiconductor in a report on Tuesday, February 10th. Stifel Nicolaus lifted their price target on ON Semiconductor from $50.00 to $60.00 and gave the company a "hold" rating in a report on Friday, January 16th. KeyCorp lifted their price target on ON Semiconductor from $65.00 to $75.00 and gave the company an "overweight" rating in a report on Tuesday, February 10th. Finally, Craig Hallum reissued a "hold" rating on shares of ON Semiconductor in a research report on Tuesday, February 10th. Fourteen equities research analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, ON Semiconductor has a consensus rating of "Hold" and a consensus target price of $67.15.

ON Semiconductor Stock Performance

Shares of ON stock opened at $88.99 on Thursday. ON Semiconductor has a 1-year low of $36.27 and a 1-year high of $89.69. The company has a current ratio of 4.52, a quick ratio of 2.98 and a debt-to-equity ratio of 0.39. The company has a market capitalization of $35.00 billion, a price-to-earnings ratio of 261.74, a P/E/G ratio of 0.87 and a beta of 1.53. The stock's fifty day simple moving average is $66.49 and its 200-day simple moving average is $58.85.

ON Semiconductor (NASDAQ:ON - Get Free Report) last issued its quarterly earnings results on Monday, February 9th. The semiconductor company reported $0.64 earnings per share for the quarter, beating analysts' consensus estimates of $0.62 by $0.02. ON Semiconductor had a return on equity of 12.22% and a net margin of 2.02%.The business had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.54 billion. During the same quarter in the previous year, the company posted $0.95 earnings per share. ON Semiconductor's revenue for the quarter was down 11.2% compared to the same quarter last year. ON Semiconductor has set its Q1 2026 guidance at 0.560-0.660 EPS. On average, sell-side analysts predict that ON Semiconductor will post 2.93 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Hassane El-Khoury sold 20,000 shares of the business's stock in a transaction dated Thursday, February 12th. The stock was sold at an average price of $73.02, for a total transaction of $1,460,400.00. Following the completion of the transaction, the chief executive officer owned 1,015,610 shares of the company's stock, valued at approximately $74,159,842.20. The trade was a 1.93% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Trent Thad sold 30,000 shares of the business's stock in a transaction dated Thursday, April 16th. The stock was sold at an average price of $80.00, for a total value of $2,400,000.00. Following the transaction, the chief financial officer directly owned 331,194 shares of the company's stock, valued at $26,495,520. This represents a 8.31% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 116,114 shares of company stock valued at $8,492,308 over the last quarter. Insiders own 0.35% of the company's stock.

Hedge Funds Weigh In On ON Semiconductor

Several large investors have recently made changes to their positions in ON. AQR Capital Management LLC lifted its position in shares of ON Semiconductor by 187.9% during the 1st quarter. AQR Capital Management LLC now owns 121,357 shares of the semiconductor company's stock worth $4,863,000 after purchasing an additional 79,206 shares during the last quarter. Geneos Wealth Management Inc. lifted its position in shares of ON Semiconductor by 61.2% during the 1st quarter. Geneos Wealth Management Inc. now owns 1,335 shares of the semiconductor company's stock worth $54,000 after purchasing an additional 507 shares during the last quarter. Brown Advisory Inc. acquired a new position in shares of ON Semiconductor during the 2nd quarter worth about $201,000. Cresset Asset Management LLC lifted its position in shares of ON Semiconductor by 24.8% during the 2nd quarter. Cresset Asset Management LLC now owns 10,137 shares of the semiconductor company's stock worth $531,000 after purchasing an additional 2,016 shares during the last quarter. Finally, Cerity Partners LLC lifted its position in shares of ON Semiconductor by 108.0% during the 2nd quarter. Cerity Partners LLC now owns 31,646 shares of the semiconductor company's stock worth $1,659,000 after purchasing an additional 16,435 shares during the last quarter. Institutional investors and hedge funds own 97.70% of the company's stock.

Key ON Semiconductor News

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

• Positive Sentiment: Sector rally / "semiconductor euphoria" is lifting chip stocks broadly, creating a risk-on backdrop that benefits ON as investors chase AI and infrastructure exposure. Trading the close market recap - 04/22/2026
• Positive Sentiment: Company-level beat and forward commentary: analysts and market write-ups highlighted ON’s recent quarter where EPS topped estimates and management provided Q1 guidance, which helped calm near-term concerns and supported the stock. Why the Market Dipped But ON Semiconductor Corp. (ON) Gained Today
• Neutral Sentiment: ETF and thematic flows into semiconductor-focused products (smart‑beta and AI/infra ETFs) are concentrating capital into the group; that can amplify gains for large-cap suppliers like ON but is flow‑driven rather than company-specific. FTXL: A Smart Beta Semiconductor ETF For GARP Investors
• Neutral Sentiment: Retail and short‑squeeze activity in smaller semiconductor names has added volatility and attention to the sector; this can lift sentiment but also increase intraday swings that may overshoot fundamentals. Investors Are Betting on a Major Short Squeeze in Navitas Semiconductor Stock
• Negative Sentiment: Underlying fundamental caution remains — ON reported revenue declines year‑over‑year and revenue was slightly below some street estimates; the stock’s elevated valuation implies expectations for sustained demand (especially from AI/EV), so any slowdown would be a downside risk. Why the Market Dipped But ON Semiconductor Corp. (ON) Gained Today (Zacks)

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.

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