Stifel ON Semiconductor · ON

Stifel Lowers ON Semiconductor Price Target to $75

Analyst: Tore Svanberg 1 min read Reproduced verbatim
Rating
Hold
Target
$75
from $90 (−17%)
Outcome
Reached
on September 25, 2026
Stifel and ON Semiconductor logos

What the analyst said

Stifel analyst Tore Svanberg lowered the price target on ON Semiconductor (NASDAQ: ON) to $75 (from $90) while maintaining a Hold rating.

“On Wednesday, September 16, we attended ON’s 2026 Financial Analyst Day, featuring presentations from Hassane El-Khoury, President and CEO, Achyut Shah, Group President of the Power Solutions Group, Sudhir Gopalswamy, Group President of the Analog & Mixed-Signal and Intelligent Sensing Groups, and Thad Trent, EVP and CFO.

We came away encouraged on strategy, specifically (i) an end-to-end AI data center franchise taking content from ~$15K to ~$115K per rack by CY30, (ii) the Embedded Power Platform (EPP), (iii) physical AI at a $6bn TAM, and (iv) auto projected to outgrow SAAR by high single digits.

That said, the CY30 model of +12-14% revenue CAGR, 53% GM and 38% OM is potentially below expectations (see changes vs. the prior LT model below).

The NT to MT GM path also remains unclear, weighing on EPS power versus analog peers. Maintain Hold, TP to $75 (from $90) on 16.5x CY27E P/E.”

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 $73. The 11 analysts who set a target in the last 3 months range from $75 to $120, with a median of $90. This $75 target is 17% below the median, the lowest on the Street.

Since the note ON has moved +10% (from $66.60). 12-month window: day 47 of 365, closes on September 17, 2027.

Track record

This call✓ Target reached on September 25, 2026, 8 days after the note.

Firm track recordStifel: 83% of its 41 targets at least a year old were reached within 12 months (#5 of 26 firms). Accuracy ranking →

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, 2026 This noteTarget 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, 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.