Why onsemi (ON) Stock Is Up Today

onsemi (ON) is up 5.1% today. Here is some analysis on what might have caused this price movement.

Analysis: The most likely catalyst is onsemi’s revised agreement to acquire Synaptics on more favorable terms. Investors appear to be reacting positively to the lower purchase price, the shift to an all-cash structure, and management’s statement that the deal is now expected to be immediately accretive to non-GAAP earnings per share at closing.

Details:

onsemi and Synaptics announced an amended merger agreement on October 1, 2026, replacing the prior June deal with revised terms.

The new agreement values the transaction at about $5.7 billion, down from roughly $7 billion under the earlier structure, which likely improved how the market views the economics for onsemi shareholders.

Management said the revised transaction should deliver higher shareholder value through immediate non-GAAP EPS accretion, a notable improvement versus the original announcement.

The company also highlighted additional upside beyond previously disclosed annual run-rate synergies, including revenue opportunities and bringing part of Synaptics production in-house after closing.

Sources:

onsemi Investor Relations, SEC, AP News

Disclaimer: This price movement analysis was generated with the help of AI. Please double-check the information provided for mistakes.

$ON Insider Trading Activity

$ON insiders have traded $ON stock on the open market 3 times in the past 6 months. Of those trades, 0 have been purchases and 3 have been sales.

Here’s a breakdown of recent trading of $ON stock by insiders over the last 6 months:

TRENT THAD (Exec VP & CFO) has made 0 purchases and 3 sales selling 90,000 shares for an estimated $8,190,000.

To track insider transactions, check out Quiver Quantitative's insider trading dashboard. You can access data on insider stock transactions through the Quiver Quantitative API insider transaction endpoint.

$ON Hedge Fund Activity

We have seen 528 institutional investors add shares of $ON stock to their portfolio, and 383 decrease their positions in their most recent quarter.

Here are some of the largest recent moves:

JPMORGAN CHASE & CO added 10,129,250 shares (+inf%) to their portfolio in Q2 2026, for an estimated $957,619,295
SLATE PATH CAPITAL LP removed 6,529,477 shares (-83.7%) from their portfolio in Q2 2026, for an estimated $617,296,755
JERICHO CAPITAL ASSET MANAGEMENT L.P. added 4,881,237 shares (+inf%) to their portfolio in Q2 2026, for an estimated $461,472,145
ALLSPRING GLOBAL INVESTMENTS HOLDINGS, LLC removed 3,033,710 shares (-49.7%) from their portfolio in Q2 2026, for an estimated $286,806,943
JANE STREET GROUP, LLC added 2,732,180 shares (+918.1%) to their portfolio in Q2 2026, for an estimated $258,300,297
SIXTH STREET PARTNERS MANAGEMENT COMPANY, L.P. added 2,724,303 shares (+inf%) to their portfolio in Q2 2026, for an estimated $257,555,605
SACHEM HEAD CAPITAL MANAGEMENT LP removed 1,945,000 shares (-100.0%) from their portfolio in Q2 2026, for an estimated $183,880,300

To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard. You can access data on hedge funds moves and 13F filings through the Quiver Quantitative API 13F endpoint.

$ON Price Targets

Multiple analysts have issued price targets for $ON recently. We have seen 20 analysts offer price targets for $ON in the last 6 months, with a median target of $115.0.

Here are some recent targets:

Christopher Rolland from Susquehanna set a target price of $150.0 on 07/09/2026
Vijay Rakesh from Mizuho set a target price of $125.0 on 07/01/2026
C.J. Muse from Cantor Fitzgerald set a target price of $110.0 on 06/29/2026
Mark Lipacis from Evercore ISI Group set a target price of $137.0 on 06/26/2026
N. Quinn Bolton from Needham set a target price of $130.0 on 06/26/2026
Craig Ellis from B. Riley Securities set a target price of $135.0 on 06/26/2026
Tore Svanberg from Stifel set a target price of $107.0 on 06/24/2026

This article is not financial advice. See Quiver Quantitative's disclaimers for more information. Note that there may be inaccuracies due to mistakes in ticker-mapping, and other anomalies.