ON Semiconductor stock falls 1.89 percent as Wells Fargo cuts target
Published on 09/28/2026 at 15:51 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS
ON Semiconductor stock (ISIN US6821891035) was trading at USD 75.74 on Nasdaq on September 28, 2026, down 1.89 percent from the prior close. The session puts the semiconductor maker below its 52-week high of USD 134.92 while quarterly growth and analyst revisions shape the current valuation debate.
Wells Fargo lowers its target
As Yahoo Finance reported on September 17, 2026, Wells Fargo cut its ON Semiconductor price target from USD 95 to USD 85 while keeping an Overweight rating.
The revision leaves the target USD 9.26, or 12.23 percent, above the intraday price of USD 75.74 on September 28, 2026. That gap is smaller than the broader target range cited in recent coverage, making the individual revision a more cautious signal than the retained rating alone suggests.
Q2 revenue rises 9.2 percent
According to MarketBeat on September 17, 2026, ON Semiconductor reported Q2 2026 revenue of USD 1.60 billion versus USD 1.59 billion consensus, while reported EPS reached USD 0.74 versus USD 0.72 expected.
Revenue increased 9.2 percent year over year, and the company issued Q3 2026 EPS guidance of USD 0.81-0.93, according to MarketBeat. The comparison gives investors a concrete test for whether the earnings recovery can support higher valuation assumptions.
Power platform needs financial proof
MarketBeat also reported that ON Semiconductor launched its Embedded Power Platform for AI data centers, electric vehicles and industrial applications, with Subaru evaluating the technology for future electric vehicles.
The same coverage placed the potential addressable market at USD 213.0 billion by 2030 but described the opportunity as long term, with limited near-term revenue commitments and detailed financial milestones. For the stock, the key issue is therefore whether Q3 guidance can convert the technology narrative into measurable earnings progress.
Nasdaq session keeps risk visible
ON Semiconductor's market capitalization stood at USD 29.5 billion on September 28, 2026, while volume was 644,155 shares. The 52-week range was USD 44.56 to USD 134.92, leaving the current price closer to the lower end than the yearly high.
ON Semiconductor stock was last at USD 75.74 on Nasdaq on September 28, 2026 at 9:49 a.m. ET, with a daily change of -1.89 percent.
ON Semiconductor stock facts
- Company: ON Semiconductor Corporation
- ISIN: US6821891035
- Ticker: ON
- Trading venue: Nasdaq
- Price (as of September 28, 2026, 9:49 a.m. ET): USD 75.74
- Market capitalization: USD 29.5 billion (as of September 28, 2026)
- 52-week range: USD 44.56-134.92 (as of September 28, 2026)
- Sector / Industry: Technology / Semiconductors
