ON Semiconductor Corporation (ON) Price Target Analysis
Updated Jul 2, 2026
Analyst Rating: Buy
Based on 47 analysts19.5% Below Target
ON trades 19.5% below Wall Street's consensus target of $108.88.
Current Price$91.10
Average Target$108.88
Target
Current
Low$62.00
Median$116.00
High$140.00
Analyst Target Range
Forward P/E29.5x
(Growth Premium)
PEG Ratio—
Implied Growth+111.8%
(High Growth)
Analyst Spread71.6%
(Wide Disagreement)
Price Forecast (1 Year)
Last 12 months price action with 12-month analyst target path
Consensus Scenario Assumptions
The base valuation assumes ON achieves its forward estimates and maintains a stable P/E multiple of 29.5x. This scenario reflects the blended consensus of 47 Wall Street analysts, balancing both positive catalysts and macroeconomic headwinds over the next 12 months.
ON Price Target Analysis
Updated July 8, 2026As of July 8, 2026, ON Semiconductor Corporation (ON) has a Wall Street consensus price target of $108.88, based on estimates from 47 covering analysts. With the stock currently trading at $91.10, this represents a potential upside of +19.5%. The company has a market capitalization of $35.70B.
Analyst price targets range from a low of $62.00 to a high of $140.00, representing a 72% spread in expectations. The median target of $116.00 differs from the mean, suggesting potential outlier estimates. The wide target spread reflects significant disagreement on fair value.
The current analyst consensus rating is Buy, with 25 analysts rating the stock as a Buy or Strong Buy,21 rating it Hold, and 1 rating it Sell or Strong Sell. The positive sentiment balance indicates moderate optimism about the stock prospects.
From a valuation perspective, ON trades at a trailing P/E of 314.1x and forward P/E of 29.5x. Analysts expect EPS to grow +111.8% over the next year.
Our proprietary valuation model, which blends historical multiples with forward estimates, suggests a base-case price target of $157.20, with bear and bull scenarios of $99.04 and $207.13 respectively. Model confidence stands at 52/100, reflecting moderate uncertainty in projections.
Investment Context: Price targets represent analyst expectations for the next 12 months and should be considered alongside your own research. Targets are based on analysts' assumptions about earnings growth, margins, and market conditions which may change. For sector-specific context, view other Technology stocks.
Analyst Sentiment Comparison
Industry Peer AnalysisAvg Peer Upside
+9.7%
Industry Consensus
Avg Forward P/E
38.5x
(Growth Premium)
Peers with Coverage
10 / 10
Active Analyst Tracking
| Company | Market Cap | Price | Target | Upside Potential | Rating | Fwd P/E | Analysts |
|---|---|---|---|---|---|---|---|
 STMSTMicroelectronics N.V. | $62.9B | $70.72 | $74.83 | +5.8% | Buy | 54.5x | 29 |
 WOLFWolfspeed, Inc. | $1.6B | $36.00 | $20.00 | -44.4% | Hold | — | 19 |
 DIODDiodes Incorporated | $4.2B | $91.57 | $120.00 | +31.0% | Buy | 34.9x | 13 |
 MPWRMonolithic Power Systems, Inc. | $62.5B | $1272.81 | $1615.00 | +26.9% | Buy | 53.1x | 25 |
 POWIPower Integrations, Inc. | $3.7B | $66.83 | $90.00 | +34.7% | Buy | 50.1x | 16 |
 TXNTexas Instruments Incorporated | $267.0B | $293.30 | $281.56 | -4.0% | Buy | 38.1x | 65 |
 NXPINXP Semiconductors N.V. | $69.0B | $273.15 | $242.60 | -11.2% | Buy | 18.5x | 46 |
 MCHPMicrochip Technology Incorporated | $45.6B | $84.15 | $107.82 | +28.1% | Buy | 53.7x | 46 |
 ADIAnalog Devices, Inc. | $184.6B | $379.03 | $453.57 | +19.7% | Buy | 30.8x | 54 |
 SWKSSkyworks Solutions, Inc. | $9.9B | $65.93 | $73.10 | +10.9% | Buy | 13.2x | 60 |
ON — Frequently Asked Questions
Quick answers to the most common questions about buying ON stock.
What is the ON stock price target for 2026?
ON Semiconductor Corporation (ON) has a consensus 12-month price target of $108.88, implying 19.5% upside from $91.1. The 47 analysts covering ON see moderate appreciation potential.
Is ON a buy, sell, or hold?
ON has a consensus rating of "Buy" based on 47 Wall Street analysts. The rating breakdown is predominantly bullish, with 25 Buy/Strong Buy ratings. The consensus 12-month price target of $108.88 implies 19.5% upside from current levels.
Is ON stock overvalued or undervalued?
ON trades at a forward P/E of 29.5491x, representing a moderate valuation. With analysts targeting $108.88 (19.5% implied move), the stock appears reasonably valued with upside.
How high can ON stock go?
The most bullish Wall Street analyst has a price target of $140 for ON, while the most conservative target is $62. The consensus of $108.88 represents the median expectation. Our quantitative valuation model projects a bull case target of $207 based on optimistic growth and margin assumptions. These targets typically reflect 12-month expectations.
How many analysts cover ON stock?
ON is heavily covered by Wall Street, with 47 analysts providing price targets and ratings. Of these, 0 have Strong Buy ratings, 25 have Buy ratings, 21 recommend Hold, and 1 have Sell or Strong Sell ratings. Higher analyst coverage generally indicates greater institutional interest and more reliable consensus estimates.
What is the ON stock forecast?
The 12-month ON stock forecast based on 47 Wall Street analysts shows a consensus price target of $108.88, with estimates ranging from $62 (bear case) to $140 (bull case). The median consensus rating is "Buy". Our proprietary valuation model produces a base case fair value of $157, with bear/bull scenarios of $99/$207.
What is ON's fair value based on fundamentals?
Our quantitative valuation model calculates ON's fair value at $157 (base case), with a bear case of $99 and bull case of $207. The model uses discounted cash flow analysis, historical growth rates, and margin mean-reversion to project FY+2 earnings, then applies an appropriate P/E multiple. The model confidence score is 52/100.
What is ON's forward P/E ratio?
ON trades at a forward P/E ratio of 29.5x based on next-twelve-months earnings estimates compared to a trailing P/E of 314.1x. The lower forward P/E indicates analysts expect earnings growth. A forward P/E is useful for comparing valuations when earnings are expected to change significantly.
Should I buy ON stock?
Wall Street analysts are optimistic on ON, with a "Buy" consensus rating and $108.88 price target (19.5% upside). 25 of 47 analysts rate it Buy or Strong Buy. This information is for educational purposes only. Always conduct your own research, consider your financial situation, and consult a financial advisor before making investment decisions.
Why do ON price targets vary so much?
ON analyst price targets range from $62 to $140, a 72% wide spread indicating significant analyst disagreement. Differences stem from varying assumptions about revenue growth, profit margins, competitive dynamics, and valuation multiples. The $108.88 consensus represents the middle ground. Our model's $99-$207 range provides an independent fundamental perspective.
Consensus-Based Analysis Tools
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