onsemi (ON) rises as investors react to revised Synaptics deal

onsemi (ON) is up 5.6% today. Here is some analysis on what might have caused this price movement.

Analysis: The most likely catalyst is investor approval of onsemi’s revised agreement to acquire Synaptics. The updated structure appears more shareholder-friendly because it lowers the deal value, switches the consideration to cash, and is expected by the company to be immediately accretive to non-GAAP earnings per share.

Details:

onsemi and Synaptics announced an amended merger agreement on October 1, 2026.

The revised terms value the acquisition at about $5.7 billion, down from roughly $7 billion under the original June agreement.

The transaction changed from an all-stock structure to $123 per share in cash, which reduces dilution concerns for onsemi shareholders.

onsemi stated in its release that the revised transaction is expected to be immediately accretive to non-GAAP earnings per share, which likely helped sentiment.

Sources:

onsemi Investor Relations, SEC, Yahoo Finance

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 1 times in the past 6 months. Of those trades, 0 have been purchases and 1 have been sales.

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

SUDHIR GOPALSWAMY (Group President, AMG & ISG) sold 15,578 shares for an estimated $1,246,240

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 540 institutional investors add shares of $ON stock to their portfolio, and 402 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 Congressional Stock Trading

Members of Congress have traded $ON stock 1 times in the past 6 months. Of those trades, 1 have been purchases and 0 have been sales.

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

REPRESENTATIVE GILBERT RAY CISNEROS, JR. purchased up to $50,000 on 09/28.

To track congressional stock trading, check out Quiver Quantitative's congressional trading dashboard. You can access data on congressional stock trades through the Quiver Quantitative API Congress trades 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.