Should I Buy ON? ON 2026 Analysis

Should You Buy ON Semiconductor Corp (ON) Today? Analysis, Price Targets, and 2026 Outlook.

Conclusion

Hold

Latest Price

62.200

1 Day change

-4.20%

52 Week Range

66.860

Analysis Updated At

2026/01/26

ON Semiconductor Corp is not a strong buy for a beginner, long-term investor at this time. While there are some positive catalysts such as improving sentiment in the semiconductor industry and bullish technical indicators, the company's recent financial performance shows significant declines in revenue, net income, and EPS. Additionally, insider selling and mixed analyst ratings suggest caution. For a long-term investor, it may be better to wait for stronger financial performance or more compelling entry signals.

Technical Analysis

The technical indicators show a mixed-to-bullish trend. The MACD is above 0 but contracting, RSI is neutral at 60.441, and moving averages are bullish (SMA_5 > SMA_20 > SMA_200). Key support and resistance levels are Pivot: 61.645, R1: 64.541, S1: 58.749, R2: 66.329, S2: 56.961. The stock is trading close to its pivot point, indicating limited immediate upside.

Options Data

Bearish

Open Interest Put-Call Ratio

Bearish

Option Volume Put-Call Ratio

Technical Summary

Sell

Buy

Positive Catalysts

Restocking cycle for industrial semiconductors underway, as noted by BNP Paribas.
Improving sentiment in the semiconductor sector, with expectations for modest earnings rebounds in
Bullish moving averages and key support levels near the current price.

Neutral/Negative Catalysts

Significant insider selling, with a 195.61% increase in the last month.
Declining financial performance in Q3 2025, with revenue down 11.98% YoY, net income down 36.52% YoY, and EPS down 33.33% YoY.
Mixed analyst ratings, with several firms maintaining Neutral or Hold ratings despite modest price target increases.
No recent congress trading data or strong institutional buying trends.

Financial Performance

In Q3 2025, ON Semiconductor reported a revenue decline of 11.98% YoY to $1.55 billion, net income dropped 36.52% YoY to $255 million, and EPS fell 33.33% YoY to $0.62. Gross margin also decreased to 37.14%, down 16.78% YoY. These figures indicate significant financial headwinds.

Growth

Profitability

Efficiency

Analyst Ratings and Price Target Trends

Analyst ratings are mixed. Recent upgrades include BNP Paribas moving to Neutral with a $62 price target and BofA raising the price target to $65 while maintaining a Neutral rating. Mizuho is more optimistic, raising the target to $72 with an Outperform rating. However, concerns about automotive and competitive dynamics in power semis persist, and several firms maintain Neutral or Hold ratings.

19 Analyst Rating

Wall Street analysts forecast ON stock price to fall over the next 12 months. According to Wall Street analysts, the average 1-year price target for ON is 61.25 USD with a low forecast of 50 USD and a high forecast of 80 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.

9 Buy

10 Hold

0 Sell

Moderate Buy

Current: 64.930

Low

Averages

61.25

High

Current: 64.930

Low

Averages

61.25

High

BNP Paribas

David O'Connor

Underperform -> Neutral

upgrade

$62

AI Analysis

2026-01-22

Reason

BNP Paribas

David O'Connor

Price Target

$62

AI Analysis

2026-01-22

upgrade

Underperform -> Neutral

Reason

BNP Paribas analyst David O'Connor upgraded On Semi to Neutral from Underperform with a $62 price target given improving business conditions, at least for some of its industrial business. The firm remains concerned about automotive and competitive dynamics in power semis, the analyst noted.

BofA

Neutral

maintain

$60 -> $65

2026-01-21

Reason

BofA

Price Target

$60 -> $65

2026-01-21

maintain

Neutral

Reason

BofA raised the firm's price target on On Semi to $65 from $60 and keeps a Neutral rating on the shares. The firm raised price targets for most of its diversified analog semi stock coverage, noting that it expects modest calendar Q4 beats and Q1 raises across the board led by industrial semis given ongoing rebounds across most subsegments, favorable pricing, and robust growth in strategic AI businesses.

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ON Should I Buy

ON Should I Buy

Should You Buy ON Semiconductor Corp (ON) Today? Analysis, Price Targets, and 2026 Outlook.

Technical Analysis

Options Data

Technical Summary

Positive Catalysts

Neutral/Negative Catalysts

Financial Performance

Growth

Profitability

Efficiency

Analyst Ratings and Price Target Trends

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