onsemi (NASDAQ:ON) Hits New 1-Year High - Still a Buy?

Key Points

• onsemi hit a new 52‑week high near $101 after the stock rallied on expanded EV partnerships with Geely and NIO and broader industrial/automotive chip momentum driven by AI and EV demand.
• The rally contrasts with valuation and analyst metrics — onsemi trades with a very high P/E (~291) and a market cap of ~$38.9B while the average analyst target is only $67.15, implying potential upside is debated.
• Near‑term risks include an upcoming Q1 earnings report (early May) that could trigger volatility, ongoing insider selling by executives, and sector/macroeconomic swings that can quickly reverse gains.

Shares of onsemi (NASDAQ:ON - Get Free Report) hit a new 52-week high during trading on Thursday . The stock traded as high as $101.26 and last traded at $98.86, with a volume of 13002644 shares changing hands. The stock had previously closed at $93.30.

Trending Headlines about onsemi

Here are the key news stories impacting onsemi this week:

• Positive Sentiment: Expanded auto/EV partnerships: onsemi broadened integrations of its EliteSiC high‑voltage power technology with Geely and with NIO to support next‑gen 900V EV platforms — a direct revenue catalyst for SiC power devices used in fast EV architectures. onsemi and Geely Expand Strategic Collaboration
• Positive Sentiment: Sector momentum and flow: coverage highlighting a rally in industrial/automotive chips (AI + EV tailwinds) has increased interest in onsemi as a beneficiary of a wider chip rotation into power/sensor suppliers. That thematic push has helped lift the stock in April. How ON Semiconductor More Than Doubled NVIDIA's Gains in April
• Neutral Sentiment: Near‑term earnings event: onsemi is scheduled to report Q1 results in early May; Street models and management guidance (company provided ranges) will be the next major catalyst — good results or raised visibility on automotive/AI demand could extend the rally, while mixed guidance could trigger profit‑taking. ON Set to Report Q1 Earnings
• Neutral Sentiment: Mixed analyst and fund flows: while several firms have raised targets or issued positive notes, some price targets and quarter‑end portfolio moves show both sizable adds and reductions — implying upside depends on execution and clearer demand visibility. Market commentary: institutional flows & analyst context
• Negative Sentiment: Insider selling: CFO Trent Thad has sold blocks of shares (disclosed via an SEC 10b5‑1 plan). Sales under trading plans are common, but they can still feed short‑term profit‑taking narratives. SEC filing: Trent Thad sale
• Negative Sentiment: Chip‑sector volatility and macro risks: the broader semiconductor group has seen episodic selloffs tied to AI‑spending uncertainty and geopolitical risks; those swings can quickly reverse gains in high‑momentum names like onsemi. Semiconductor selloff context

Analyst Upgrades and Downgrades

ON has been the topic of several analyst reports. Mizuho reduced their target price on onsemi from $72.00 to $70.00 and set an "outperform" rating on the stock in a report on Tuesday, February 10th. Citigroup upped their target price on onsemi from $66.00 to $68.00 and gave the company a "neutral" rating in a report on Tuesday, February 10th. Rosenblatt Securities upped their target price on onsemi from $50.00 to $60.00 and gave the company a "neutral" rating in a report on Tuesday, February 10th. Needham & Company LLC upped their target price on onsemi from $68.00 to $72.00 and gave the company a "buy" rating in a report on Tuesday, February 10th. Finally, Weiss Ratings cut onsemi from a "hold (c-)" rating to a "sell (d+)" rating in a report on Friday, January 30th. Fourteen equities research analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $67.15.

onsemi Stock Performance

The company has a quick ratio of 2.98, a current ratio of 4.52 and a debt-to-equity ratio of 0.39. The company has a 50 day simple moving average of $69.06 and a 200-day simple moving average of $60.54. The stock has a market capitalization of $38.88 billion, a price-to-earnings ratio of 290.77, a price-to-earnings-growth ratio of 0.99 and a beta of 1.53.

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

Insider Buying and Selling at onsemi

In other onsemi news, CFO Trent Thad sold 60,000 shares of the business's stock in a transaction that occurred on Thursday, February 12th. The stock was sold at an average price of $71.22, for a total value of $4,273,200.00. Following the transaction, the chief financial officer directly owned 339,460 shares of the company's stock, valued at approximately $24,176,341.20. The trade was a 15.02% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Hassane El-Khoury sold 20,000 shares of the business's stock in a transaction that occurred 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 completion of the transaction, the chief executive officer directly owned 1,015,610 shares in the company, valued at approximately $74,159,842.20. This trade represents a 1.93% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 146,114 shares of company stock valued at $11,282,308. 0.35% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On onsemi

A number of institutional investors have recently modified their holdings of the company. Kestra Private Wealth Services LLC raised its position in shares of onsemi by 2.8% during the first quarter. Kestra Private Wealth Services LLC now owns 4,554 shares of the semiconductor company's stock worth $282,000 after purchasing an additional 125 shares during the period. Apollon Wealth Management LLC raised its position in shares of onsemi by 1.8% during the first quarter. Apollon Wealth Management LLC now owns 7,130 shares of the semiconductor company's stock worth $441,000 after purchasing an additional 127 shares during the period. Evexia Wealth LLC raised its position in shares of onsemi by 1.1% during the first quarter. Evexia Wealth LLC now owns 13,328 shares of the semiconductor company's stock worth $825,000 after purchasing an additional 142 shares during the period. Root Financial Partners LLC raised its position in shares of onsemi by 42.1% during the fourth quarter. Root Financial Partners LLC now owns 503 shares of the semiconductor company's stock worth $27,000 after purchasing an additional 149 shares during the period. Finally, V Square Quantitative Management LLC raised its position in shares of onsemi by 2.7% during the first quarter. V Square Quantitative Management LLC now owns 5,946 shares of the semiconductor company's stock worth $368,000 after purchasing an additional 157 shares during the period. 97.70% of the stock is owned by institutional investors and hedge funds.

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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