Stifel ON Semiconductor · ON

Stifel Lowers ON Semiconductor Price Target to $90

1 min read Reproduced verbatim
Rating
Hold
Unchanged
Target
$90
from $107 (−16%)
Upside
+42%
ON at $63.31 today
Stifel and ON Semiconductor logos

What the analyst said

Stifel analyst Tore Svanberg lowered the price target on ON Semiconductor (NASDAQ: ON) to $90 (from $107) while maintaining a Hold rating.

“2Q26 revenue of $1.60bn (+6.0% q/q) was +1.2% above our $1.59bn estimate and above the guidance midpoint, driven by a broad-based recovery and accelerating AI DC demand.

Management now expects AI DC revenue to more than double in CY26E.3Q26E revenue guidance midpoint of $1.70bn (+6.0% q/q) came in +2.3% above our $1.66bn estimate, as visibility continues to improve into 2H26 and CY27.

While we believe ON is well positioned to participate in the analog upcycle, we would note that revenue growth for CY26E is still only roughly +9.3% (by our estimates), below our WSTS SIA projection for the analog industry at +11-15% and at the lower end of our coverage.

We maintain our Hold rating at this time, pending sustained GM improvement.

Lowering our 12-month TP to $90 (from $107), representing a 19.8x CY27E P/E multiple.”

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 $63.31. The 11 analysts who set a target in the last 3 months range from $75 to $120, with a median of $90. This $90 target is in line with the median.

Since the note ON has moved −21% (from $80.40). 12-month window: day 96 of 365, closes on August 4, 2027.

Track record

This callOpen: ON has not reached $90 yet. This 12-month target is scored on August 4, 2027.

Firm track recordStifel: 83% of its 42 targets at least a year old were reached within 12 months (#6 of 26 firms). Accuracy ranking →

Earnings reactionOne of 8 notes after ON Semiconductor’s Aug 3 results: 1 raised · 6 cut · 1 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, 2026 This noteTarget 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, 2026Kept 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.