ON Semiconductor Corp.

ON Semiconductor Corp.

ON

Get informed when a big investor buys or sells

+ Follow
Market Cap$47.27B
Close$

Compare to Similar Companies

P/E RatioDividendsReturn on EquityPrice-to-SalesDebt-to-Equity
ON Semiconductor Corp.ON Semiconductor Corp.82.9-8%8.90.4

Earnings Call Q1 2026

May 4, 2026 - AI Summary

Strong Q1 results + evidence of an inflection (good/surprising): ON Semi delivered $1.51B revenue (≈ -1% QoQ, +5% YoY) and non-GAAP EPS of $0.64 (above the midpoint of guidance). Gross margin reached 38.5% for the third straight quarter of expansion, and management highlighted improving demand signals (more short-lead orders / strengthening patterns) consistent with a cycle bottom.
Margin/financial drivers and outlook for 2026 (good): - Operating leverage: non-GAAP operating margin was 19.1%; GAAP operating margin -3.5% (restructuring impact). - Gross margin levers: management attributed margin gains to FabRight/manufacturing improvements, utilization and mix; they said utilization is the biggest driver (≈ 25–30 bps gross margin improvement per utilization point) and longer-term FabRight adds ~200 bps, plus additional mix benefit also 200+ bps. - Guidance implies continued expansion: expects sequential gross margin expansion throughout 2026.
Q2 2026 guidance (key numbers): - Revenue: $1.535B–$1.635B, with ~+7% at the midpoint vs prior comparable (excluding non-core exits) and above seasonal. - Non-core revenue exits: expects an additional $30M–$40M in Q2 (management previously planned/annualized ~$300M exits total; largely complete by year-end). - Non-GAAP gross margin: 38%–40% (includes ~$6M share-based comp). - Non-GAAP EPS: $0.65–$0.77. - Capex: $25M–$35M.

Exclusive for Stockcircle Pro members

Sign upSign Up
$105.00

Target Price by Analysts

21.6% downsideON Semiconductor Target Price DetailsTarget Price
$20.06

Current Fair Value

85% downside

Overvalued by 85% based on the discounted cash flow analysis.

Share Statistics

Market cap$47.27 Billion
Enterprise Value$48.27 Billion
Dividend Yield$- (-)
Earnings per Share$0.29
Beta1.94
Outstanding Shares394,100,000

Return

Return on Equity7.86%ROE
Return on Assets4.78%
Return on Invested Capital6.36%

Valuation & Multiples

P/E Ratio82.86P/E Ratio
PEG-88.97PEG
Price to Sales8.93Price to Sales
Price to Book Ratio7.44Price to Book Ratio
Enterprise Value to Revenue7.96
Enterprise Value to EBIT70.17
Enterprise Value to Net Income84
Total Debt to Enterprise0.06
Debt to Equity0.41Debt to Equity

Revenue Sources

No data

Insider Trades

Last Earnings Call

Report Date
May 4, 2026
EPS Estimate
$0.61
Average shareholder expectation
Revenue Estimate
$1.49 B
Average shareholder expectation

Next Earnings Call

Expected Date
August 3, 2026
EPS Estimate
$0.72
Average shareholder expectation
Revenue Estimate
$1.59 B
Average shareholder expectation

Institutional Put/Call Ratio

Market sentiment based on institutional option activity.

Put/Call Ratio0.9470 0.14%
Total Calls6,245,314 31.09%
Total Puts5,914,027 31.19%

Institutional Ownership

Holdings and activity of institutional investors.

Ownership %101.03% 2.59%
Total Invested$24.94B 9.16%
Investors Holding890 29.00%

ESG Score

No data

About ON Semiconductor Corp.

CEO: Keith Jackson

Relevant Senate Committees

Joint Committee on Taxation

This committee provides crucial analysis and scoring for all tax legislation, directly influencing corporate tax structures, R&D credits, and capital investment incentives that impact ON Semiconductor's profitability and investment strategies.

Finance

This committee controls taxation and trade policy, directly impacting ON Semiconductor's corporate tax burden, R&D incentives, and global market access through tariffs and export controls relevant to a global industry.

Appropriations

This committee directly allocates federal spending, determining precise funding for defense programs, scientific research, and infrastructure projects, all of which represent significant end-markets or R&D opportunities for ON Semiconductor.

Judiciary

This committee's oversight of antitrust laws and intellectual property is crucial for the semiconductor industry, directly impacting M&A activity, competitive landscape, and the protection of core technological assets for companies like ON.

Armed Services

Semiconductors are critical components in modern defense systems. This committee's authorization of the NDAA and oversight of the Department of Defense directly impacts a significant end-market for ON Semiconductor.

Select Committee on Intelligence

Members receive classified briefings on global threats, which can reveal non-public material information about national security priorities and demand drivers for advanced semiconductors in defense and cybersecurity applications.

Commerce, Science, and Transportation

This committee has vast jurisdiction over interstate commerce, technology, and telecommunications, directly impacting 'Big Tech' and adjacent sectors that are major customers for ON Semiconductor, and oversees initiatives like the CHIPS Act.

Foreign Relations

As a global semiconductor manufacturer, ON is highly sensitive to U.S. foreign policy, sanctions, and international trade agreements, which this committee directly influences, impacting supply chains and market access.