ON Semiconductor (ON) Q2 2026 earnings — TrendMatrix coverage
Reported
Model-generated analysis — not investment advice. Not a registered investment advisor. Past performance does not guarantee future results. How we score · Full disclosure
Key numbers
- Reported EPS
- $0.74
- Estimate
- $0.72
- Surprise
- +3.4%
- Revenue (period 2026-07-03)
- $1.60B
- Score at report (before → after)
- 5.4 → 5.7/10
Revenue source: xbrl.
How the report landed
ON Semiconductor (ON) beat the $0.72 estimate with diluted EPS of $0.74 — a clear 3.4% upside surprise. TrendMatrix's engine moved from Buy (Wait) (5.4/10) to Hold at 5.7/10 after the report.
Where TrendMatrix's rating stands now
TrendMatrix currently rates ON Sell at 5.9/10.
4 of the last 4 quarters beat the estimate; this quarter's +3.4% surprise compares with a +4.2% four-quarter average. Next scheduled report: 2026-11-02.
What supports the rating
- Strong earnings beat streak (4/4)
- Strong growth profile
What argues against it
- Concentration risk — Customer: automotive end-market (51.0%)
- Sector modifier (Technology): -0.8
This section and the ones below it reflect TrendMatrix’s latest engine read — they update after the report date and are not frozen to it.
The levels TrendMatrix's engine tracks
- Current price
- $76.28
- Price target
- $96.37
- Stop
- $70.81
- Upside to target
- +26.3%
- Reward-to-risk
- 2.8:1
The stock trades at 49.8× trailing but 16.8× forward earnings — consensus estimates already build in a substantial earnings recovery.
Model outputs from TrendMatrix’s engine as of 2026-09-14 — shown for context, not personalized investment advice.
ON at TrendMatrix's latest read
Technology names get repriced on forward expectations more than trailing prints — a quarter here is read through next-year growth and multiple, not the EPS line alone.
- Industry
- Semiconductors
- Market cap
- $29.64B
- P/E (fwd)
- 16.8
- P/E (ttm)
- 49.8
- 52-week range
- $44.56–$134.92
- Off 52-week high
- 43.5%
- RSI (14)
- 54
- Volume vs avg
- 1.48×
- Score today
- 5.9/10