Robert W. Baird Forecasts Strong Price Appreciation for onsemi (NASDAQ:ON) Stock

onsemi (NASDAQ:ON) had its target price raised by equities research analysts at Robert W. Baird from $100.00 to $108.00 in a research report issued on Tuesday,Benzinga reports. The brokerage currently has a “neutral” rating on the semiconductor company’s stock. Robert W. Baird’s target price indicates a potential upside of 34.33% from the company’s previous close.

Other equities analysts have also recently issued reports about the company. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of onsemi in a research report on Friday, July 24th. UBS Group reissued a “neutral” rating and issued a $95.00 target price on shares of onsemi in a report on Monday, June 29th. Evercore restated an “outperform” rating and issued a $137.00 price target on shares of onsemi in a research note on Friday, June 26th. Wells Fargo & Company dropped their price objective on onsemi from $140.00 to $130.00 and set an “overweight” rating on the stock in a research report on Monday, July 20th. Finally, TD Cowen reduced their price objective on onsemi from $110.00 to $95.00 and set a “buy” rating for the company in a report on Monday, July 13th. Fourteen research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $102.00.

onsemi Stock Down 1.5%

NASDAQ:ON opened at $80.40 on Tuesday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 3.14 and a current ratio of 4.87. The firm has a market cap of $31.51 billion, a P/E ratio of 57.02, a P/E/G ratio of 0.90 and a beta of 2.03. onsemi has a fifty-two week low of $44.56 and a fifty-two week high of $134.92. The firm has a 50-day simple moving average of $104.28 and a two-hundred day simple moving average of $85.07.

onsemi (NASDAQ:ON) last issued its earnings results on Monday, August 3rd. The semiconductor company reported $0.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.72 by $0.02. onsemi had a net margin of 9.46% and a return on equity of 12.79%. The firm had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.59 billion. During the same quarter in the prior year, the firm posted $0.53 earnings per share. The business’s revenue was up 9.2% on a year-over-year basis. onsemi has set its Q3 2026 guidance at 0.810-0.930 EPS. Analysts predict that onsemi will post 3.09 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of ON. Janus Henderson Group PLC grew its position in shares of onsemi by 10.9% during the 1st quarter. Janus Henderson Group PLC now owns 13,700,884 shares of the semiconductor company’s stock valued at $848,392,000 after acquiring an additional 1,345,894 shares during the period. Ameriprise Financial Inc. raised its holdings in onsemi by 7.7% in the 2nd quarter. Ameriprise Financial Inc. now owns 12,205,996 shares of the semiconductor company’s stock worth $639,716,000 after purchasing an additional 877,533 shares during the period. Norges Bank bought a new position in onsemi in the 4th quarter worth $330,885,000. Rafferty Asset Management LLC lifted its position in onsemi by 55.0% during the second quarter. Rafferty Asset Management LLC now owns 5,837,502 shares of the semiconductor company’s stock valued at $305,943,000 after purchasing an additional 2,072,125 shares in the last quarter. Finally, Pictet Asset Management Holding SA lifted its position in onsemi by 15.5% during the first quarter. Pictet Asset Management Holding SA now owns 4,597,886 shares of the semiconductor company’s stock valued at $284,495,000 after purchasing an additional 615,905 shares in the last quarter. Hedge funds and other institutional investors own 97.70% of the company’s stock.

Key onsemi News

Here are the key news stories impacting onsemi this week:

• Positive Sentiment: Q2 earnings and revenue exceeded expectations. onsemi reported adjusted EPS of $0.74 versus the $0.72 consensus estimate and revenue of approximately $1.604 billion versus expectations of $1.59 billion. Revenue increased 9% year over year, while adjusted gross margin reached 39.3%. onsemi Reports Second Quarter 2026 Results
• Positive Sentiment: AI data-center demand is becoming a meaningful growth driver. Management said it is prioritizing AI infrastructure customers and expects data-center revenue to more than double in 2026. The company highlighted rising demand for high-voltage power solutions and other products used in AI applications. ON Semiconductor Shifts Capacity to AI Data Centers
• Positive Sentiment: Cash generation and shareholder returns improved sharply. Operating cash flow rose 150% year over year, free cash flow reached $425.4 million and onsemi repurchased $332 million of stock during the quarter. Stocks to Watch: ON Semiconductor
• Neutral Sentiment: Third-quarter guidance was broadly encouraging but not a major upside surprise. onsemi projected adjusted EPS of $0.81–$0.93 and revenue near $1.7 billion, roughly in line with analyst expectations. The midpoint implies continued sequential growth, but investors may have wanted a larger forecast increase given the AI enthusiasm.
• Negative Sentiment: AI growth requires reallocating capacity away from automotive and industrial customers. Automotive remains a major part of onsemi’s business, so prioritizing data centers could raise concerns about near-term automotive sales, customer relationships and the pace of the broader cyclical recovery.
• Negative Sentiment: Analysts remain cautious on the risk-reward profile. Baird raised its price target to $108 from $100 but maintained a Hold rating, citing margin tailwinds that are partly offset by competitive pressures. With the stock trading well above its 200-day average and at a relatively high earnings multiple, the results may have been largely anticipated. ON Semi Price Target Raised to $108

About onsemi

onsemi is engaged in disruptive innovations and also a supplier of power and analog semiconductors. The firm offers vehicle electrification and safety, sustainable energy grids, industrial automation, and 5G and cloud infrastructure, with a focus on automotive and industrial end-markets. It operates through the following segments: Power Solutions Group, Advanced Solutions Group, and Intelligent Sensing Group. The Power Solutions Group segment offers discrete, module, and semiconductor products that perform multiple application functions, including power switching, power conversion, signal conditioning, circuit protection, signal amplification, and voltage reference functions.