ON Semiconductor stock gets a USD 5.7 billion Synaptics deal

Published on 10/05/2026 at 16:06 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

ON Semiconductor stock was trading at USD 84.58 on October 5, while Stifel lifted its target to USD 80. Q2 revenue reached USD 1,603.5 million, up 9.2 percent year over year.

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ON Semiconductor (ISIN US6821891057) was trading at USD 84.58 on Nasdaq at 10:05 a.m. ET on October 5, 2026, down 0.37 percent from the prior close. The company also advanced a revised Synaptics transaction valued at USD 5.7 billion, giving the stock a fresh strategic and financial reference point.

Synaptics deal cuts the price

According to Trivano on October 1, 2026, onsemi and Synaptics amended their merger agreement so that onsemi will acquire Synaptics for USD 123 per share in cash. The revised consideration is USD 5.7 billion, compared with USD 7 billion under the previous agreement.

The transaction is expected to be immediately accretive to onsemi's non-GAAP earnings per share after closing, while completion remains subject to shareholder and regulatory approvals and is expected by mid-2027. The lower cash consideration removes the share issuance associated with the earlier structure, but integration and approval remain material execution factors.

Q2 revenue reached USD 1.6 billion

In Q2 2026, onsemi generated USD 1,603.5 million of revenue, up 9.2 percent from USD 1,468.7 million in Q2 2025, according to Financial Report Insights. GAAP diluted EPS increased to USD 0.56 from USD 0.41, while GAAP operating margin reached 16.1 percent.

The growth mix matters. Other revenue, which includes AI data-center activity, rose 21.3 percent year over year to USD 399.5 million, while automotive revenue increased 6.6 percent to USD 781.3 million. Management's Q3 2026 non-GAAP guidance calls for revenue of USD 1.65 billion to USD 1.75 billion and EPS of USD 0.81 to USD 0.93.

Analyst target remains above the stock

MarketBeat reported on October 5, 2026, that Stifel raised its target from USD 75 to USD 80 while keeping a Hold rating. The same report listed a Moderate Buy consensus from 30 analysts and an average target of USD 95.56, which lies 12.99 percent above the USD 84.58 price.

The valuation gap makes the next earnings date important. A market calendar lists November 2, 2026, as onsemi's next earnings date, placing the Q3 update after the company enters the second half with higher guided revenue and margin expectations.

ON Semiconductor stock trades below its yearly high

ON Semiconductor stock was trading at USD 84.58 on Nasdaq on October 5, 2026, with a 52-week range of USD 44.56 to USD 134.92. Its market capitalization stood at USD 32.9 billion and trading volume reached 1,559,635 shares.