ON Semiconductor (NASDAQ:ON) to Buyback $6.00 billion in Outstanding Shares

ON Semiconductor (NASDAQ:ON) announced that its board has authorized a share buyback program on Tuesday, November 18th, RTT News reports. The company plans to repurchase $6.00 billion in outstanding shares. This repurchase authorization allows the semiconductor company to reacquire up to 32.7% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board of directors believes its shares are undervalued.

ON Semiconductor Price Performance

Shares of NASDAQ:ON traded down $0.46 during trading on Tuesday, reaching $45.56. 7,119,263 shares of the company’s stock traded hands, compared to its average volume of 9,533,933. The company has a quick ratio of 3.37, a current ratio of 5.02 and a debt-to-equity ratio of 0.42. ON Semiconductor has a fifty-two week low of $31.04 and a fifty-two week high of $74.52. The company has a 50-day simple moving average of $49.88 and a 200-day simple moving average of $50.40. The firm has a market cap of $18.33 billion, a PE ratio of 42.58, a P/E/G ratio of 2.58 and a beta of 1.56.

ON Semiconductor (NASDAQ:ON) last issued its quarterly earnings results on Monday, November 3rd. The semiconductor company reported $0.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.59 by $0.04. ON Semiconductor had a return on equity of 15.33% and a net margin of 7.28%.The company had revenue of $1.55 billion for the quarter, compared to the consensus estimate of $1.52 billion. During the same quarter in the prior year, the business posted $0.99 earnings per share. ON Semiconductor’s revenue for the quarter was down 12.0% on a year-over-year basis. ON Semiconductor has set its Q4 2025 guidance at 0.570-0.670 EPS. As a group, analysts predict that ON Semiconductor will post 2.6 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts recently issued reports on ON shares. Piper Sandler restated an “overweight” rating on shares of ON Semiconductor in a research report on Monday, August 4th. Benchmark reiterated a “buy” rating on shares of ON Semiconductor in a research note on Tuesday, November 4th. Williams Trading set a $60.00 target price on ON Semiconductor in a research note on Tuesday, November 4th. Cfra reaffirmed a “buy” rating and set a $64.00 target price on shares of ON Semiconductor in a report on Tuesday, November 4th. Finally, Rosenblatt Securities reissued a “neutral” rating and issued a $50.00 price target on shares of ON Semiconductor in a report on Tuesday, November 4th. Fourteen investment analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $59.08.

About ON Semiconductor

onsemi is engaged in disruptive innovations and also a supplier of power and analog semiconductors. The firm offers vehicle electrification and safety, sustainable energy grids, industrial automation, and 5G and cloud infrastructure, with a focus on automotive and industrial end-markets. It operates through the following segments: Power Solutions Group, Advanced Solutions Group, and Intelligent Sensing Group.