Stifel Reaffirms Hold on ON Semiconductor, $75 Price Target
Stifel analyst Tore Svanberg reiterated a Hold rating and $75 price target on ON Semiconductor (NASDAQ: ON).
“On Thursday, October 1 (AMC), ON and SYNA amended their June 25, 2026 merger agreement, with ON now acquiring SYNA for $123 per share in cash, an enterprise value of ~$5.7bn vs. ~$7bn under the prior all-stock terms.
The amendment follows an unsolicited competing proposal from an unnamed third party, and the SYNA board unanimously determined the amended transaction remains in the best interests of its shareholders.
Both ON and SYNA reacted positively to the news after hours.”
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