Truist ON Semiconductor · ON

Truist Securities Raises ON Semiconductor Price Target to $66

Analyst: William Stein 1 min read Reproduced verbatim
Rating
Hold
Target
$66
from $57 (+16%)
Outcome
Reached
on February 10, 2026
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What the analyst said

Truist Securities analyst William Stein raised the price target on ON Semiconductor (NASDAQ: ON) to $66.00 (from $57.00) while maintaining a Hold rating.

“Posts roughly inline Q4 & outlook – modestly better than stabilization; ON continues to right the ship.

ON’s Q4 result & Q1 outlook were similar: modest revenue disappointments coupled with margin upside.

Bulls might point to the performance excluding business exits, but our careful analysis suggests the exits reduced reported / outlook growth by less than 100bps – so, yes, better than stabilization – but only barely.

ON continues to improve the product portfolio and cost structure, and is driving to better margins, but we believe these improvements are largely in the consensus model and the stock.

CY27 EPS goes to $4.14 (from $4.06). PT goes to $66 (from $57) based on 16x (same 12x disc to recently-higher multiple peers). Hold.”

Disclaimer
The price target and rating on this page are the opinion of the issuing research firm and its analyst, not of Price Target. This page is published for informational purposes only and is not investment advice, a recommendation, or an offer to buy or sell any security. Past performance does not guarantee future results. Consider your own circumstances and consult a licensed financial adviser before making investment decisions.

This research note is reproduced verbatim from the issuing firm. Price Target never edits, paraphrases or alters analysts’ words — we only republish them in one place.

Where the price stands

ON trades at $72.48. The 11 analysts who set a target in the last 3 months range from $75 to $120, with a median of $90. This $66 target is 27% below the median, the lowest on the Street.

Since the note ON has moved +11% (from $65.10). 12-month window: day 266 of 365, closes on February 10, 2027.

Track record

This call✓ Target reached on February 10, 2026, 0 days after the note.

Firm track recordTruist: 78% of its 27 targets at least a year old were reached within 12 months (#17 of 26 firms). Accuracy ranking →

Earnings reactionOne of 14 notes after ON Semiconductor’s Feb 9 results: 10 raised · 1 cut · 2 kept. See every call →

Truist on ON Semiconductor

Truist price targets on ON Semiconductor

5 calls from February 10, 2026 to November 3, 2026. The target went from $66 to $76 (+15%). The rating stayed Hold.

Truist targetON share price
  1. November 3, 2026Target raised from $75 (+1%)Hold$76
  2. September 21, 2026Target cut from $91 (−18%)Hold$75
  3. August 5, 2026Target cut from $101 (−10%)Hold$91
  4. May 5, 2026Target raised from $66 (+53%)Hold$101
  5. February 10, 2026 This noteEarliest call shownHold$66
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Other analysts on ON Semiconductor

StoneXBuy Kept rating and price target Nov 3 $110maintained CantorHold Kept rating and price target Nov 3 $90maintained MizuhoBuy Cut price target −8%, kept rating Nov 3 $87from $95 NeedhamBuy Kept rating and price target Nov 3 $116maintained Wells FargoBuy Cut price target −10%, kept rating Nov 3 $90from $100
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Price Target is an archive of Wall Street analyst research, published for informational purposes only. Nothing on this site is investment advice, a recommendation, or an offer to buy or sell any security. Analyst ratings and price targets are the opinions of the issuing firms, not of Price Target. Always do your own research or consult a licensed financial adviser.