ON Semiconductor stock rises 6.01 percent on Synaptics deal

Published on 10/04/2026 at 09:39 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Wells Fargo lifted its target from USD 85 to USD 100 on October 2, 2026. The revised Synaptics takeover values the deal at USD 5.7 billion and targets mid-2027 closing.

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ON Semiconductor stock (ISIN US6821891057) was last at USD 84.89 on Nasdaq on October 2, 2026 at 4:00 p.m. ET, up 6.01 percent from the prior close of USD 80.08. The move followed onsemi's revised all-cash agreement to acquire Synaptics, which reshapes the deal's cost and dilution profile.

Synaptics deal cuts purchase cost

According to onsemi on October 1, 2026, the company will acquire Synaptics for USD 123 per share in cash, with a transaction value of USD 5.7 billion versus USD 7 billion under the prior agreement. The company expects the revised structure to be immediately accretive to non-GAAP earnings per share.

The deal is expected to close by mid-2027, subject to Synaptics shareholder approval, regulatory approvals and other customary conditions, according to onsemi. The release also says onsemi has fully committed debt financing from Morgan Stanley and that the Federal Trade Commission has approved the transaction.

Analysts raise valuation targets

According to MarketBeat on October 2, 2026, Wells Fargo raised its onsemi price target from USD 85 to USD 100 and maintained an Overweight rating. Needham separately reaffirmed a Buy rating with a USD 116 target, as MarketBeat reported on October 2, 2026.

The latest quarterly figures add a financial checkpoint. Markets Insider reported on October 2, 2026 that the quarter ending July 3 produced USD 1.6 billion in revenue and USD 226.8 million in net profit, versus USD 1.47 billion and USD 170.3 million in the prior-year quarter.

Stock remains below yearly high

ON Semiconductor's October 2 reference price stood within a session range of USD 82.96 to USD 86.45, with volume of 22,883,034 shares. The 52-week range was USD 44.56 to USD 134.92, while market capitalization stood at USD 33.0 billion.

For investors, the immediate question is whether lower acquisition cost and expected non-GAAP EPS accretion can translate into results after closing. The mid-2027 timetable leaves approval and integration as concrete milestones for the transaction thesis.

Nasdaq snapshot supports the move

ON Semiconductor stock was last at USD 84.89 on Nasdaq on October 2, 2026 at 4:00 p.m. ET, with the 6.01 percent daily gain and USD 33.0 billion market capitalization defining the latest market snapshot.