Needham Reiterates Buy Rating on ON Semiconductor
Needham keeps its buy rating for ON Semiconductor with a $130 price target, a 46.78% upside from the current price.
Key Points
- Needham reiterated its buy rating on ON Semiconductor with a $130 price target on June 26, 2026.
- Needham's $130 price target implies 46.78% upside from ON Semiconductor Corporation's ($ON) current $88.57 share price.
- Shares of NasdaqGS:ON traded near $118.74 on Friday, with a market cap of about $46.2 billion.
- FMR LLC and BlackRock reduced their holdings, while Vanguard Capital opened a new position in ON Semiconductor.
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On June 26, 2026, Needham reiterated its buy rating on ON Semiconductor Corporation (NasdaqGS:ON) with a price target of $130. Analyst N. Quinn Bolton maintained the positive outlook on the stock, which traded near $118.74 on Friday.
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Other Institutional Activity in ON Semiconductor
FMR LLC trimmed its holdings in ON Semiconductor by 1,213,771 shares, bringing its total to 58,158,341 shares valued at approximately $3.6 billion. BlackRock also reduced its stake by 491,029 shares, ending with 39,911,681 shares worth about $2.47 billion. Meanwhile, Vanguard Capital Management LLC and Vanguard Portfolio Management LLC both opened new positions, acquiring 25,633,199 and 20,062,560 shares respectively. State Street Corp decreased its holdings by 542,474 shares, while JPMorgan Chase & Co significantly increased its position by 8,358,035 shares, now holding 16,107,943 shares valued at around $896.6 million.
ON Semiconductor Corporation Stock Up 22.0%
Shares of ON Semiconductor traded around $118.74 on Friday. The company, with a market capitalization of approximately $46.2 billion, has a P/E ratio of 86.67 and a forward P/E of 27.53. Its beta is 1.977, indicating higher volatility compared to the market. The stock's 52-week range is $44.56 to $134.92, with a 50-day moving average of $109.66 and a 200-day moving average of $69.95. The company maintains a strong balance sheet with a current ratio of 4.873 and a quick ratio of 2.797.
$ON price target
Past daily closes and this analyst's 12-month price target. Not investment advice.
Recent Earnings
ON Semiconductor reported revenue of $6.06 billion, reflecting a modest growth of 4.7%. The company's earnings per share stood at $1.37, with a net margin of 9.46% and a return on equity of 7.49%. The next earnings release is scheduled for May 4, 2026.
Insider Buying and Selling at ON Semiconductor Corporation
On May 26, 2026, Sudhir Gopalswamy, Group President of AMG & ISG, sold 470 shares at an average price of $127. Earlier in May, several insiders, including Susan Carter, Bruce Kiddoo, and others, each bought 1,986 shares, although the transaction price was not disclosed.
Analysts Set New Price Targets
On June 26, 2026, Evercore ISI Group maintained its buy rating on ON Semiconductor with a price target of $137. Needham also maintained its buy rating with a $130 target. Stifel, Citigroup, Wells Fargo, and others have recently updated their ratings, with targets ranging from $107 to $150. The consensus among 27 analysts is a buy recommendation, with an average target price of $107.78.
About ON Semiconductor Corporation
ON Semiconductor Corporation, headquartered in Scottsdale, Arizona, offers intelligent sensing and power solutions worldwide. It operates through three main segments: Power Solutions Group, Analog and Mixed-Signal Group, and Intelligent Sensing Group. The company designs and manufactures semiconductor devices that facilitate power conversion, signal conditioning, and circuit protection, serving industries like automotive, industrial automation, and AI data centers. Led by CEO Hassane S. El-Khoury, ON Semiconductor employs around 22,600 people globally.
Bottom Line
Needham's reiterated buy rating and $130 price target on ON Semiconductor highlights continued confidence in the company's growth prospects. As a major player in the semiconductor industry, ON Semiconductor's financial health and strategic market position make it a stock to watch. Remember, 13F filings and analyst ratings are backward-looking and may not reflect current positions or recommendations.
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