Reading the tape
NASDAQ: ON
ON Semiconductor Corporation
Technology · Semiconductors
Market Cap
$39.16B
52w High
$105.81
52w Low
$37.19
P/E
70.07
Volume
1.27M
Outstanding Shares
393.33M
Price vs Fundamentals
Why The Stock Is Moving
Mixed / unclearLow confidence
1Y Price: 165.38%Revenue (TTM): -9.04%FCF (TTM): 3.7%P/FCF: 72nd pct
What changed
The stock rose 165.38% over the last year. Revenue declined 9.04% over the trailing twelve months. Operating margin moved from 10.03% to 10.84%. Free cash flow grew 3.7% over the trailing twelve months.
What the market seems to be pricing
The stock has moved higher against modestly improving underlying metrics. The operating data does not yet tell a clear story — the move may reflect sentiment, sector rotation, or macro factors rather than company-specific earnings power.
What would invalidate this read
Operating margin currently stands at 10.84%. A decisive move in revenue — currently down 9.04% — would be the clearest signal to resolve the ambiguity.
Company profile
ON Semiconductor Corporation provides intelligent sensing and power solutions worldwide.
CEOHassane S. El-Khoury
SectorTechnology
IndustrySemiconductors
Employees26,400
IPO dateMay 2, 2000
Valuation
Forward P/E—
EV/EBITDA26.54
Enterprise value$23.58B
Stock splits
Mar 11, 2014↑ Forward
Every 1 shares became 10
Profitability & growth
Revenue growth4.68%
Gross margin37.22%▼28.89%vs FY2024
Operating margin10.84%▼50.04%vs FY2024
ROE1.58%▼91.18%vs FY2024
Analyst consensus
RatingBuy
Target price$94.25▼5.34%
23
Buy
21
Hold
1
Sell
Analyst ratings tend to be lagging indicators. Use as one signal among many.
Earnings
Full quarter-by-quarter history of actuals vs estimates. Switch into compare mode to inspect one metric year-over-year.
Next report
Aug 3, 2026
Q3 FY26 · EPS est $0.66 · Revenue est $1.53B
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