onsemi (ON) Stock Forecast & Price Target

onsemi
Bull Case

Here are some ways that investors could benefit from investing in ON Semiconductor Corporation:

• ON Semiconductor Corporation is currently trading at $84.89, which is below the consensus price target of $95.36, suggesting potential upside for investors as the stock has a Moderate Buy consensus rating from fifteen analysts who have issued Buy ratings.
• The company recently revised its acquisition of Synaptics to a $5.7 billion all-cash deal at $123 per share, which is expected to be immediately accretive to non-GAAP earnings per share and avoids the share dilution associated with the original all-stock agreement.
• ON Semiconductor Corporation reported strong Q2 2026 results with earnings per share of $0.74, beating the consensus estimate of $0.72, and revenue of $1.60 billion, which was up 9.2% year-over-year, indicating solid operational momentum.
• Several major financial institutions, including Bank of America, UBS, and Wells Fargo, have expressed positive views on the revised Synaptics deal, with Wells Fargo raising its price target to $100 and Needham reaffirming a buy rating with a $116 target, reflecting increased analyst confidence.
• Institutional investors have been increasing their holdings in ON Semiconductor Corporation, with firms like Janus Henderson Group PLC and Van ECK Associates Corp significantly growing their stakes in recent quarters, indicating strong institutional support for the stock.