Onsemi slides after quarterly revenue miss; weak Q1 forecast

ON Semiconductor

10/02/2026 13:57

** Shares of chipmaker Onsemi ON.O down 3% at $63.11 premarket as co's Q4 revenue, Q1 forecasts miss expectations

** Co forecasts Q1 revenue between $1.44 billion and $1.54 billion, below analysts' estimate of $1.54 billion

** Sees Q1 adjusted EPS between 56 cents and 66 cents, the midpoint of which is below expectations of 62 cents - data compiled by LSEG

** TD Cowen says ON's guidance miss looks worse against a bar investors saw as conservative, but flags AI datacenter revenue topping $250 mln in FY25; still raises PT to $75 from $70

** Jefferies says AI data‑center run‑rate above $400 mln in Q1 helps offset the impact of planned business exits through September; hikes PT to $73 from $65

** At least 10 brokerages raised their price targets for ON, with Rosenblatt’s new $60 target the lowest among them

** Co reports Q4 revenue fall of 11.2% to $1.53 billion, slightly shy of estimates of $1.54 bln

** The avg rating of 36 analysts covering the stock is "hold", with a median price target of $68.00 - data compiled by LSEG

** As of last close, ON stock up 20.2% YTD

 (Reporting by Tharuniyaa Lakshmi in Bengaluru)

 ((tharuniyaa@thomsonreuters.com))