Onsemi shares fall after quarterly results

ON Semiconductor

05/05/2026 09:58

** Shares of chipmaker Onsemi ON.O down 4.3% at $97.59 premarket

** Q1 revenue came in at $1.51 billion, beating estimates but down 1% vs previous quarter

** Co expects Q2 rev between $1.54 billion and $1.64 billion vs estimates of $1.53 billion - data compiled by LSEG

** Demand side of the equation is undeniably improving, but limited margin expansion is gating the stock - TD Cowen

** "The pieces are there, but Onsemi needs several quarters of solid > seasonal growth with margin improvement to win back sentiment" - TD Cowen

** 16 of 35 brokerages rate stock "buy" or higher, 19 "hold"; median PT is $90 - LSEG-compiled data

** Stock gained about 88.5% YTD vs S&P 500 semiconductors index's .SPLRCELCS 22% advance

(Reporting by Joel Jose in Bengaluru)

((joeljose@thomsonreuters.com))