Price Prediction: ON Semiconductor Stock Looks Ready for Its Next Move

Quick Read

• ON Semiconductor earns a BUY astatine a $115 terms target, representing 43% upside, arsenic AI information halfway gross doubles successful 2026 and escaped currency travel quadruples.

• Texas Instruments grew Q2 gross 23% and Microchip commands a premium valuation connected little sales, some validating the betterment aggregate embedded successful ON's $115 target.

• Don't wait: the expert who called NVIDIA successful 2010 conscionable revealed his apical 10 AI stocks. See the afloat database FREE now.

Our telephone connected ON Semiconductor (NASDAQ:ON) is straightforward. The 24/7 Wall St. terms people for onsemi is $115.02, pointing to 43.05% upside from the existent $80.40 quote. Our proposal is buy, with a 90% assurance level.

A quadrupling successful escaped currency flow, an AI information halfway concern acceptable to much than treble this year, and a caller $6 cardinal buyback authorization marque the risk/reward charismatic aft the caller pullback.

24/7 Wall St. Price Target Summary

From Cyclical Trough to AI Reacceleration

Shares person cooled recently, sliding 9.7% successful the past week and 11.86% implicit the past month, yet ON is inactive up 48.48% twelvemonth to day and 41.5% implicit the past year. The banal sits 16% beneath its 52-week precocious of $134.92, good disconnected the $44.56 debased acceptable during the analog rhythm bottom.

Q2 2026, filed August 3, 2026, delivered cleanable results. Non-GAAP EPS of $0.74 bushed the $0.72 consensus, gross of $1.60 cardinal grew 9.2% twelvemonth implicit year, and Power Solutions Group gross roseate 19% to $829 million.

Free currency travel of $425.4 cardinal was astir quadruple the year-ago figure. CEO Hassane El-Khoury told investors "AI information halfway remains our fastest-growing business, and we present expect gross to much than treble successful 2026."

Don't wait: the expert who called NVIDIA successful 2010 conscionable revealed his apical 10 AI stocks. See the afloat database FREE now.

Why Bulls See a Breakout Ahead

Management guided Q3 gross to $1.65 cardinal to $1.75 cardinal and non-GAAP EPS to $0.81 to $0.93, some supra trailing quarters. The AI information halfway thesis has existent receipts: expanding NVIDIA MGX ecosystem wins, a strategical EliteSiC and silicon MOSFET level woody with Great Wall, and the caller GaNEXUS gallium nitride portfolio spanning 40V to 650V.

Automotive momentum layers connected top, with 900V EV architecture wins astatine Geely and NIO positive the Rivian R2 zonal architecture. In the bull case, ON reaches $127.69 wrong 12 months, astir 58.81% upside. Analyst statement of $113.12 sits successful that neighborhood, backed by 11 Buy ratings against zero Sells.