ON Semiconductor Corp. (NASDAQ:ON) shares are up during Monday’s premarket session following the company’s expanded collaboration with NIO Inc. (NYSE:NIO). The deal supports the automaker’s transition to next-generation 900V electric vehicle platforms.
This partnership leverages ON Semiconductor’s EliteSiC technology to enhance efficiency and performance across NIO’s latest EV lineup, including models debuting at the 2026 Beijing Auto Show.
ON Semiconductor is deepening its long-term collaboration to focus on the transition from 400V to 900V architectures. This is expected to improve overall drivetrain efficiency and performance.
The partnership aims to deliver real-world gains in range, charging, and performance, showcasing the evolving relationship between semiconductor suppliers and automakers in the rapidly advancing EV market.
ON Earnings Preview And Analyst Price Targets
The countdown is on: ON Semiconductor is set to report earnings on May 4, 2026 (confirmed).
- EPS Estimate: 62 cents (Up from 55 cents)
- Revenue Estimate: $1.49 billion (Up from $1.45 billion)
- Valuation: P/E of 339.3x (Indicates premium valuation)
Analyst Consensus & Recent Actions: The stock carries a Hold Rating with an average price target of $66.89. Recent analyst moves include:
- B of A Securities: Upgraded to Buy (Raises Target to $85.00) (April 13)
- Barclays: Initiated with Equal-Weight (Target $75.00) (February 13)
- JP Morgan: Neutral (Raises Target to $70.00) (February 10)
Bank of America Securities analyst Vivek Arya upgraded the stock and cited its improving pipeline, roughly 6% free cash flow yield, $6 billion buyback plan, and potential EBIT margin expansion to about 30% by 2028, even as he noted the move may be “potentially a tad early” amid ongoing auto and EV weakness.
Moving Averages And Overbought Signals
ON Semiconductor is currently trading near its 52-week high of $100.30, reflecting strong bullish momentum as it approaches this key resistance level. The stock is trading 34.73% above its 20-day simple moving average (SMA) and 46.19% above its 100-day SMA, suggesting a strong short-term and intermediate-term uptrend.
Top ETFs Holding ON Stock
- State Street SPDR S&P Semiconductor ETF (NYSE:XSD): 2.99% Weight
- SPDR S&P Semiconductor ETF (NYSE:XSD): 3.48% Weight
- First Trust NASDAQ Clean Edge Green Energy Index Fund (NASDAQ:QCLN): 7.71% Weight
Significance: Because ON carries significant weight in these funds, any significant inflows or outflows for these ETFs will likely force automatic buying or selling of the stock.
ON Stock Price Activity: ON Semiconductor shares were up 0.61% at $99.00 during premarket trading on Monday, according to Benzinga Pro data.
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