Truist ON Semiconductor · ON

Truist Lowers ON Semiconductor Price Target to $91

Analyst: William Stein 1 min read Reproduced verbatim
Rating
Hold
Target
$91
from $101 (−10%)
Upside
+44%
ON at $63.35 today
Truist and ON Semiconductor logos

What the analyst said

Truist Securities analyst William Stein lowered the price target on ON Semiconductor (ON) to $91 (from $101) while maintaining a Hold rating on August 5, 2026.

“ON’s progress “sounds” better than the financials reflect.

ON’s messaging – that a cyclical recovery (rising book/bill, leadtimes, and pricing) combined with rapid growth & content gains in AI/DC is driving better results – sounds excellent.

With all of this “goodness”, revenue is only surprising by 1-2%/qtr, and is only growing HSD y/y. Business exits explain some of this, but it still feels like a disconnect to us.

CY27 EPS goes to $4.35 (from $4.21). PT goes to $91 (from $101) based on 21x (historical 6x disc to recently lowered peer multiples).

Retain Hold rating, which should be viewed in the context of our positive sector view. Cyclical recovery and AI/DC traction continue, but actual results look less great than the narrative suggests.”

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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 $63.35. The 11 analysts who set a target in the last 3 months range from $75 to $120, with a median of $90. This $91 target is 1% above the median.

Since the note ON has moved −22% (from $80.78). 12-month window: day 93 of 365, closes on August 5, 2027.

Track record

This callOpen: ON has not reached $91 yet. This 12-month target is scored on August 5, 2027.

Firm track recordTruist: 79% of its 28 targets at least a year old were reached within 12 months (#16 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 →

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, 2026 This noteTarget cut from $101 (−10%)Hold$91
  4. May 5, 2026Target raised from $66 (+53%)Hold$101
  5. February 10, 2026Earliest 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.