ON Semiconductor (ON) Stock Fair Value Edges Lower As Analysts Cut Targets

What happened: The modeled fair value for ON Semiconductor ($ON) was trimmed to about US$96.16 from about US$101.63, with several analysts resetting price targets. Key numbers: Fair value US$101.63 to US$96.16. Revenue growth 13.12% to 12.94%. Net margin 27.46% to 28.46%. Future P/E 20.42x to 18.31x. Why it matters: BofA cites sector multiple contraction as the reason targets are resetting lower despite higher earnings estimates. B. Riley points to a Q3 beat and above-consensus Q4 guidance, and AI data center revenue targets of US$620m in 2026 and over US$1.2b in 2027. Market: +0.1% today ($73.70), +30.0% YTD, 0.3x vol — as of 18:32 UTC

The modeled fair value for ON Semiconductor ($ON) was trimmed to about US$96.16 from about US$101.63, with several analysts resetting price targets.

BofA cites sector multiple contraction as the reason targets are resetting lower despite higher earnings estimates. B. Riley points to a Q3 beat and above-consensus Q4 guidance, and AI data center revenue targets of US$620m in 2026 and over US$1.2b in 2027. Market: +0.1% today ($73.70), +30.0% YTD, 0.3x vol — as of 18:32 UTC