ON Semiconductor (ON)

• Market cap: $23.3B
• 1 day: 2.09%
• 5 days: 2.69%
• 1 month: -19.35%
• 3 months: -21.10%
• 6 months: -27.60%
• Year to date: -11.47%
• 1 year: -24.41%
• 5 years: 118.52%
• 10 years: 448.49%
• Sector: Information Technology
• Industry: Semiconductors & Related Devices

About: Onsemi is a supplier of power semiconductors and sensors focused on the automotive and industrial markets. Onsemi is the second-largest power chipmaker in the world and the largest supplier of image sensors to the automotive market. While the firm used to be highly vertically integrated, it now pursues a hybrid manufacturing strategy for flexible capacity. Onsemi is pivoting to focus on emerging applications like electric vehicles, autonomous vehicles, industrial automation, and renewable energy.

Employees: 30,100

Fund manager confidence

Based on 2024 Q3 regulatory filings by fund managers ($100M+ AUM)

25% more funds holding in top 10

Funds holding in top 10: 4 [Q2] → 5 (+1) [Q3]

2.31% more ownership

Funds ownership: 99.7% [Q2] → 102.0% (+2.31%) [Q3]

9% more repeat investments, than reductions

Existing positions increased: 315 | Existing positions reduced: 288

5% more first-time investments, than exits

New positions opened: 97 | Existing positions closed: 92

4% more capital invested

Capital invested by funds: $30B [Q2] → $31.1B (+$1.14B) [Q3]

1% less funds holding

Funds holding: 825 [Q2] → 819 (-6) [Q3]

10% less call options, than puts

Call options by funds: $4.74B | Put options by funds: $5.27B

Research analyst outlook

11 Wall Street Analysts provided 1 year price targets over the past 3 months

• Low target: $60 10% upside
• Avg. target: $77 42% upside
• High target: $100 83% upside

11 analyst ratings

• positive: 7 64%
• neutral: 3 27%
• negative: 1 9%

Keybanc John Vinh 45% 1-year accuracy 24 / 53 met price target	28% upside $70	Overweight Maintained	14 Jan 2025
Wells Fargo Joe Quatrochi 43% 1-year accuracy 3 / 7 met price target	46% upside $80	Overweight Maintained	13 Jan 2025
Goldman Sachs Toshiya Hari 62% 1-year accuracy 69 / 112 met price target	41% upside $77	Buy Maintained	10 Jan 2025
Truist Securities William Stein 56% 1-year accuracy 22 / 39 met price target	10% upside $60	Hold Downgraded	10 Jan 2025
Needham Quinn Bolton 51% 1-year accuracy 67 / 131 met price target	21% upside $66	Buy Maintained	17 Dec 2024