Seaport Global Initiates Coverage of ON Semiconductor with Buy
Fintel reports that on September 23, 2026, Seaport Global initiated coverage of ON Semiconductor (NASDAQGS:ON) (XTRA:XS4) with a Buy recommendation.
Prior to this action, the stock closed at $73.60 on September 22, 2026. The company's stock price experienced a one-week price change of +0.55% from a baseline close of $73.20 on September 15, 2026. Over a one-month period, the stock registered a price change of -0.82% from a baseline close of $74.21 on August 21, 2026.
As of September 14, 2026, the current consensus target mean for the stock is $109.10, with a median target of $107.10. This mean target represents an implied change of +48.23% from the stock's pricing. The prior consensus target mean was $109.92 as of August 28, 2026, representing a consensus target revision of -0.74%.
The aggregate analyst recommendations for the period of September 1, 2026, show a total of 38 recommendations, consisting of 5 strong buy, 14 buy, and 19 hold ratings. This breakdown represents 50.0% positive and 50.0% hold recommendations. In comparison, the prior recommendation period of August 1, 2026, also recorded 38 total recommendations, consisting of 5 strong buy, 13 buy, and 20 hold ratings, representing 47.4% positive and 52.6% hold recommendations.
Other recent analyst actions include Truist Securities maintaining a Hold rating on September 18, 2026, with a from/to rating of Hold. On September 17, 2026, Stifel maintained a Hold rating, Mizuho maintained an Outperform rating, Wells Fargo maintained an Overweight rating, Rosenblatt maintained a Neutral rating, and Cantor Fitzgerald maintained a Neutral rating.
ON Semiconductor reported its latest quarterly earnings on August 3, 2026. The company reported an actual EPS of 0.74, compared to the estimated EPS of 0.7363, representing an EPS surprise of +0.50%. The actual revenue was $1,603,500,000.00, compared to the estimated revenue of $1,635,921,591.00.
According to a Form 8-K filed with the SEC on August 13, 2026, the date of the earliest event reported was August 12, 2026. A Form S-4 registration statement filed on August 21, 2026, lists Paul Dutton as Senior Vice President, Chief Legal Officer and Secretary. ON Semiconductor Corporation is a prominent player in the semiconductor industry, specializing in energy-efficient electronics, focusing on designing and manufacturing a diverse range of products, including power and signal management, logic, discrete, and custom devices.
Recent analyst actions
| Date | Analyst | Prior | Latest recommendation | Action |
|---|---|---|---|---|
| September 23, 2026 | Seaport Global | Buy | initiated coverage | |
| September 18, 2026 | Truist Securities | Hold | Hold | maintained |
| September 17, 2026 | Stifel | Hold | Hold | maintained |
| September 17, 2026 | Mizuho | Outperform | Outperform | maintained |
| September 17, 2026 | Wells Fargo | Overweight | Overweight | maintained |
| September 17, 2026 | Rosenblatt | Neutral | Neutral | maintained |
| September 17, 2026 | Cantor Fitzgerald | Neutral | Neutral | maintained |
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This story originally appeared on Fintel.