Stifel ON Semiconductor · ON

Stifel Reiterates Hold on ON Semiconductor, $60 Price Target

Analyst: Tore Svanberg 1 min read Reproduced verbatim
Rating
Hold
Unchanged
Target
$60
Unchanged
Outcome
Reached
on January 30, 2026
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What the analyst said

Stifel analyst Tore Svanberg reiterated a Hold rating and $60.00 price target on ON Semiconductor (NASDAQ: ON).

“In-line 4Q25 results, with revenue at $1.53bn (-1.3% q/q, -11.2% y/y) as Industrial revenue returned to y/y growth for the first time in eight quarters.

Management highlighted that Automotive inventory digestion is largely complete and the AI data center business delivered more than $250mn in revenue in CY25A.

1Q26 revenue guidance midpoint of $1.49bn (-2.6% q/q, +3.1% y/y) came in -1.0% lower than our $1.50bn estimate.

Overall, while the 1Q26 guidance came in slightly below our expectations, especially contemplating recent peer guidance, we believe the company’s long-term growth trajectory is achievable, driven by content opportunities per DC rack scaling to ~$105k by 2030, and a Treo platform funnel that has already surpassed $1B in design wins.

Net/net, we maintain our Hold rating at this time, pending sustained GM improvement.

Maintained 12-month TP of $60 (16.3x CY27E P/E multiple).”

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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 $72.25. The 11 analysts who set a target in the last 3 months range from $75 to $120, with a median of $90. This $60 target is 33% 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 January 30, 2026, 14 days after the note. Same target as this firm’s January 16, 2026 note, so it is scored there.

Firm track recordStifel: 83% of its 41 targets at least a year old were reached within 12 months (#5 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 →

Stifel on ON Semiconductor

Stifel price targets on ON Semiconductor

8 calls from January 16, 2026 to October 5, 2026. The target went from $60 to $80 (+33%). The rating stayed Hold.

Stifel targetON share price
  1. October 5, 2026Target raised from $75 (+7%)Hold$80
  2. October 2, 2026Kept the $75 targetHold$75
  3. September 17, 2026Target cut from $90 (−17%)Hold$75
  4. August 4, 2026Target cut from $107 (−16%)Hold$90
  5. June 26, 2026Target raised from $90 (+19%)Hold$107
  6. April 30, 2026Target raised from $60 (+50%)Hold$90
  7. February 10, 2026 This noteKept the $60 targetHold$60
  8. January 16, 2026Earliest call shownHold$60
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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 TruistHold Raised price target +1%, kept rating Nov 3 $76from $75 NeedhamBuy Kept rating and price target Nov 3 $116maintained
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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.