Robert W. Baird Forecasts Strong Price Appreciation for onsemi (NASDAQ:ON) Stock

Key Points

• Robert W. Baird raised its onsemi price target to $108 from $100 but maintained a “neutral” rating, implying 34.33% potential upside. Analysts overall remain divided, with a consensus “Hold” rating and $102 target price.
• onsemi’s latest quarterly results beat expectations, with EPS of $0.74 versus $0.72 expected and revenue of $1.60 billion, up 9.2% year over year. The company guided for third-quarter EPS of $0.81–$0.93 and revenue near $1.7 billion.
• AI data-center demand is emerging as a major growth driver, with management expecting data-center revenue to more than double in 2026; however, shifting capacity away from automotive and industrial customers and ongoing competitive pressures remain risks.

onsemi (NASDAQ:ON - Get Free Report) had its price target upped by stock analysts at Robert W. Baird from $100.00 to $108.00 in a report issued on Tuesday,Benzinga reports. The brokerage presently has a "neutral" rating on the semiconductor company's stock. Robert W. Baird's price objective would suggest a potential upside of 34.33% from the stock's current price.

Other research analysts also recently issued reports about the stock. JPMorgan Chase & Co. boosted their price objective on shares of onsemi from $70.00 to $100.00 and gave the company a "neutral" rating in a research report on Tuesday, May 5th. Bank of America increased their price target on shares of onsemi from $115.00 to $138.00 and gave the stock a "buy" rating in a research note on Tuesday, May 26th. Mizuho lowered their price objective on shares of onsemi from $150.00 to $125.00 and set an "outperform" rating for the company in a report on Wednesday, July 1st. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating on shares of onsemi in a research report on Tuesday, May 5th. Finally, Stifel Nicolaus increased their target price on onsemi from $90.00 to $107.00 and gave the stock a "hold" rating in a research report on Wednesday, June 24th. Fourteen investment analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, onsemi currently has an average rating of "Hold" and a consensus target price of $102.00.

onsemi Stock Down 1.5%

Shares of NASDAQ:ON opened at $80.40 on Tuesday. The stock's 50-day moving average is $104.28 and its 200 day moving average is $85.07. The company has a market cap of $31.51 billion, a PE ratio of 57.02, a P/E/G ratio of 0.90 and a beta of 2.03. The company has a debt-to-equity ratio of 0.41, a current ratio of 4.87 and a quick ratio of 3.14. onsemi has a 1 year low of $44.56 and a 1 year high of $134.92.

onsemi (NASDAQ:ON - Get Free Report) last released its quarterly earnings data on Monday, August 3rd. The semiconductor company reported $0.74 earnings per share for the quarter, topping the consensus estimate of $0.72 by $0.02. onsemi had a return on equity of 12.79% and a net margin of 9.46%.The business had revenue of $1.60 billion during the quarter, compared to analysts' expectations of $1.59 billion. During the same quarter last year, the business posted $0.53 EPS. The business's revenue was up 9.2% on a year-over-year basis. onsemi has set its Q3 2026 guidance at 0.810-0.930 EPS. Sell-side analysts anticipate that onsemi will post 3.09 EPS for the current year.

Hedge Funds Weigh In On onsemi

Institutional investors and hedge funds have recently made changes to their positions in the business. Pictet Asset Management Holding SA boosted its position in shares of onsemi by 38.8% in the 4th quarter. Pictet Asset Management Holding SA now owns 3,981,981 shares of the semiconductor company's stock worth $215,624,000 after purchasing an additional 1,112,774 shares in the last quarter. Twin Capital Management Inc. purchased a new stake in shares of onsemi in the 4th quarter worth approximately $585,000. Carmel Capital Partners LLC increased its position in onsemi by 119.3% during the 4th quarter. Carmel Capital Partners LLC now owns 73,416 shares of the semiconductor company's stock valued at $3,975,000 after buying an additional 39,944 shares in the last quarter. Generali Investments Towarzystwo Funduszy Inwestycyjnych increased its position in onsemi by 2,670.6% during the 4th quarter. Generali Investments Towarzystwo Funduszy Inwestycyjnych now owns 47,100 shares of the semiconductor company's stock valued at $2,550,000 after buying an additional 45,400 shares in the last quarter. Finally, VCI Wealth Management LLC purchased a new position in onsemi during the fourth quarter valued at $1,276,000. Institutional investors own 97.70% of the company's stock.

Key Headlines Impacting onsemi

Here are the key news stories impacting onsemi this week:

• Positive Sentiment: Q2 earnings and revenue exceeded expectations. onsemi reported adjusted EPS of $0.74 versus the $0.72 consensus estimate and revenue of approximately $1.604 billion versus expectations of $1.59 billion. Revenue increased 9% year over year, while adjusted gross margin reached 39.3%. onsemi Reports Second Quarter 2026 Results
• Positive Sentiment: AI data-center demand is becoming a meaningful growth driver. Management said it is prioritizing AI infrastructure customers and expects data-center revenue to more than double in 2026. The company highlighted rising demand for high-voltage power solutions and other products used in AI applications. ON Semiconductor Shifts Capacity to AI Data Centers
• Positive Sentiment: Cash generation and shareholder returns improved sharply. Operating cash flow rose 150% year over year, free cash flow reached $425.4 million and onsemi repurchased $332 million of stock during the quarter. Stocks to Watch: ON Semiconductor
• Neutral Sentiment: Third-quarter guidance was broadly encouraging but not a major upside surprise. onsemi projected adjusted EPS of $0.81–$0.93 and revenue near $1.7 billion, roughly in line with analyst expectations. The midpoint implies continued sequential growth, but investors may have wanted a larger forecast increase given the AI enthusiasm.
• Negative Sentiment: AI growth requires reallocating capacity away from automotive and industrial customers. Automotive remains a major part of onsemi’s business, so prioritizing data centers could raise concerns about near-term automotive sales, customer relationships and the pace of the broader cyclical recovery.
• Negative Sentiment: Analysts remain cautious on the risk-reward profile. Baird raised its price target to $108 from $100 but maintained a Hold rating, citing margin tailwinds that are partly offset by competitive pressures. With the stock trading well above its 200-day average and at a relatively high earnings multiple, the results may have been largely anticipated. ON Semi Price Target Raised to $108

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.