onsemi jumps as chip stocks rebound and investors reassess Synaptics deal

onsemi (ON) is up 6.3% today. Here is some analysis on what might have caused this price movement.

Analysis: The move appears tied to a broader rebound in semiconductor shares after last week’s weakness, with onsemi also recovering from the sharp selloff that followed its Synaptics acquisition announcement. Investors may be reassessing that deal after management reiterated its existing second-quarter outlook and framed the transaction as an expansion into edge and physical AI markets.

Details:

onsemi announced on June 25 that it plans to acquire Synaptics in an all-stock transaction valued at about $7 billion, aiming to broaden its portfolio across power, sensing, connectivity, compute, and control.

At the time of the announcement, the company reiterated the second-quarter 2026 financial outlook it originally provided with first-quarter results, which helped signal that near-term expectations were unchanged.

On July 6, semiconductor stocks were broadly higher as the market rotated back into the group following a recent pullback, creating a supportive backdrop for names that had been hit hard.

Because onsemi shares had fallen sharply after the Synaptics deal was unveiled, part of today’s gain could also be a bounce from an oversold reaction rather than a fresh company-specific catalyst.

Sources:

onsemi Investor Relations, Investing.com, MarketScreener

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 12 times in the past 6 months. Of those trades, 0 have been purchases and 12 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 7 sales selling 150,000 shares for an estimated $12,462,975.
SIMON KEETON (Group President, PSG) has made 0 purchases and 2 sales selling 48,860 shares for an estimated $3,505,698.
HASSANE EL-KHOURY (CEO & President) has made 0 purchases and 2 sales selling 20,000 shares for an estimated $1,460,414.
SUDHIR GOPALSWAMY (Group President, AMG & ISG) sold 6,114 shares for an estimated $358,708

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.

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$ON Hedge Fund Activity

We have seen 373 institutional investors add shares of $ON stock to their portfolio, and 336 decrease their positions in their most recent quarter.

Here are some of the largest recent moves:

SLATE PATH CAPITAL LP removed 2,681,400 shares (-25.6%) from their portfolio in Q1 2026, for an estimated $166,032,288
MILLENNIUM MANAGEMENT LLC removed 2,107,388 shares (-89.7%) from their portfolio in Q1 2026, for an estimated $130,489,464
SACHEM HEAD CAPITAL MANAGEMENT LP added 1,945,000 shares (+inf%) to their portfolio in Q1 2026, for an estimated $120,434,400
VOLORIDGE INVESTMENT MANAGEMENT, LLC removed 1,936,917 shares (-63.9%) from their portfolio in Q1 2026, for an estimated $119,933,900
BANK OF AMERICA CORP /DE/ removed 1,547,803 shares (-22.8%) from their portfolio in Q1 2026, for an estimated $95,839,961
AMUNDI added 1,494,404 shares (+44.5%) to their portfolio in Q1 2026, for an estimated $92,533,495
DISCOVERY CAPITAL MANAGEMENT, LLC / CT added 1,409,300 shares (+inf%) to their portfolio in Q1 2026, for an estimated $87,263,856

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 22 analysts offer price targets for $ON in the last 6 months, with a median target of $112.5.

Here are some recent targets:

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
Christopher Rolland from Susquehanna set a target price of $140.0 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.