ON
ON SemiconductorBNasdaq / Semiconductors & Semiconductor Equipment
Last Price
At close
2026-06-02
Current thesis
The supported bull case is still a monitoring-style recovery thesis: Q1 beat the midpoint of guidance, non-GAAP operating margin stayed at 19.1%, AI data center revenue accelerated sequentially, and management is pointing to better underlying demand in automotive, industrial, and AI infrastructure [#PR-2026-05-04].
Posture
Constructive
Lead driver
Momentum
What changed
4 setup hits (3d) with net bullish as of 2026-06-02.
What can break
Inventory rose to $2.049 billion from $1.990 billion at December 31, 2025 while cash fell to $2.004 billion from $2.148 billion, leaving less room for a demand wobble if auto or industrial recovery stalls [#PR-2026-05-04] [#10-Q-2026-05-04].
Momentum
82
Value
60
Sentiment
41
Setup hits (3d)
4 · Net Bullish
AI TargetsBase $105.00 · Bull $128.00 · Bear $82.00
Data freshness
Prices
As of 2026-06-02
Fundamentals
As of 2026-06-01 • Vendor: Data Vendor v1
Scores
As of 2026-06-02 • Model: HYBRID_IC_RP
AI Memo
As of 2026-05-16 • Model: RankAlpha Sentiment Codex
Investment thesisAs of 2026-06-02
Investment thesis
As of 2026-06-02
Supporting evidence
What
Grade B · Constructive
Confidence Medium · Net Bullish
Target $68.04
Why
Momentum82 · Δ7d -1.5
Value60 · Δ7d +0.2
Sentiment41 · Δ7d -0.8
So what
Strength-led posture (Net Bullish). Favor watchlist adds and disciplined entries.
Lead driver: Momentum · See technicals
Momentum
82
34% active weight
Current posture
7d trendImproving
Δ7d
-1.5
Δ21d
-1.6
Value
60
32% active weight
Current posture
7d trendFlat
Δ7d
+0.2
Δ21d
-0.9
Sentiment
41
33% active weight
Current posture
7d trendFlat
Δ7d
-0.8
Δ21d
+4.5
Why this grade
Composite grade B. Momentum 81.5 / Value 59.7 / Sentiment 41.2
Fundamentals (TTM)As of 2026-06-01
Fundamentals (TTM)
As of 2026-06-01
Market Cap
$47.39B
Beta
1.56
Shares Out
402.38M
P/E (TTM)
76.6
P/S (TTM)
3.82
P/FCF (TTM)
17.26
Rev YoY
-12.0%
EPS YoY
-32.8%
Gross Margin
+35.7%
Op Margin
+4.7%
Net Debt
$375.6M
Current Ratio
5.23
As of 2026-06-02 • Updated nightlySource: Internal modelMethodology