TD Cowen Downgrades ON Semiconductor to Hold
TD Cowen has lowered its rating for ON Semiconductor to hold, setting a price target of $110, a 16.35% upside from the current price.
Key Points
- TD Cowen downgraded ON Semiconductor to hold on June 26, 2026, with a new price target of $110.
- TD Cowen's $110 price target implies 16.35% upside from ON Semiconductor Corporation's ($ON) current $94.54 share price.
- ON Semiconductor, trading at $118.74 on Friday, has a market cap of $46.2 billion and a forward P/E of 27.5.
- Insider activity included sales by Group President Sudhir Gopalswamy and multiple buys on May 14, 2026.
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TD Cowen has downgraded its rating for ON Semiconductor Corporation (NasdaqGS:ON) to hold, setting a new price target of $110. This change was announced on June 26, 2026, as the stock traded at approximately $118.74 on Friday.
TD Cowen vs. the S&P 500
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ON Semiconductor Corporation Stock Up 30.2%
Shares of NasdaqGS:ON traded near $118.74 on Friday. ON Semiconductor has a market cap of $46.2 billion, a P/E ratio of 86.7, and a forward P/E of 27.5. The stock's 52-week range spans from $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 holds a current ratio of 4.87 and a quick ratio of 2.80, with a debt-to-equity ratio of 44.34.
$ON price target
Past daily closes and this analyst's 12-month price target. Not investment advice.
Recent Earnings
ON Semiconductor reported revenue of approximately $6.06 billion, with a revenue growth rate of 4.7%. The company's net margin stands at 9.5%, while the return on equity is 7.5%. The next earnings report is expected on May 4, 2026.
Insider Buying and Selling at ON Semiconductor Corporation
On May 26, 2026, Sudhir Gopalswamy, Group President, AMG & ISG, sold 470 shares at an average price of $127. Additionally, on May 14, 2026, insiders including Susan Carter, Bruce Kiddoo, Thomas Deitrich, Christine Yan, and Paul Anthony Mascarenas each bought 1,986 shares.
Analysts Set New Price Targets
On June 26, 2026, TD Cowen downgraded ON Semiconductor to hold with a $110 price target. The same day, Susquehanna and B. Riley Securities maintained their buy ratings with targets of $140 and $135, respectively. Evercore ISI Group also maintained a buy rating, setting a target of $137, while Needham kept its buy rating with a $130 target.
About ON Semiconductor Corporation
ON Semiconductor Corporation, based in Scottsdale, Arizona, provides intelligent sensing and power solutions worldwide. The company operates through three segments: Power Solutions Group, Analog and Mixed-Signal Group, and Intelligent Sensing Group. It offers a wide range of semiconductor devices and solutions for various industries, including automotive and industrial automation. Led by CEO Hassane S. El-Khoury, ON Semiconductor employs around 22,600 people.
Bottom Line
TD Cowen's downgrade of ON Semiconductor to hold reflects a cautious stance with a price target of $110. Investors often track such analyst ratings to gauge market sentiment, though it's important to remember that these opinions are backward-looking and may not always align with future performance. As always, investors should consider a range of factors when evaluating their investment decisions.
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