New York, January 17, 2026, 19:32 EST — The market has closed.
- ON Semiconductor shares ended Friday at $60.33, up 0.08%, but slipped slightly in after-hours trading.
- Over the last two sessions, Wells Fargo, Stifel, and Citi raised their price targets but held steady on their ratings.
- As Tuesday’s session reopens, traders are focused on chip-sector momentum, tariff developments, and upcoming earnings dates.
ON Semiconductor Corp (ON) ended Friday at $60.33, edging up 0.08% following a wave of price-target boosts from Wall Street analysts. The stock held its ground ahead of the U.S. market holiday. In after-hours trading, shares hovered around $60.29 and have gained roughly 6% year-to-date.
Timing is key as U.S. markets close Monday for Martin Luther King Jr. Day, leaving Tuesday’s open as the first real test of risk appetite after the long weekend. Chip stocks led gains on Friday, with the Philadelphia SE Semiconductor index jumping 1.2%, while the broader U.S. indexes barely moved. “We’re at the start of the earnings season,” noted Anthony Saglimbene of Ameriprise Financial. Reuters
The semiconductor sector gained strength after Taiwan Semiconductor Manufacturing Co raised its 2026 capital spending forecast, seen by investors as a sign of robust demand for AI-driven computing. TSMC plans to spend between $52 billion and $56 billion, according to Reuters. Aureus CIO Han Dieperink said the market had “underestimated” the scale of AI demand. Reuters
Stifel’s Tore Svanberg bumped his price target on onsemi to $60 from $50 but kept a Hold rating. This came in a note linked to the firm’s earnings preview for analog chips, which handle power and real-world signals. Svanberg highlighted a return in “analog appetite” and noted that edge AI — running AI on devices instead of cloud data centers — is “more of a reality.” TipRanks
Wells Fargo raised its price target on the stock to $70 from $62, keeping its Overweight rating intact—a sign it expects the stock to beat its sector or benchmark. The bank revised its semiconductor industry model, pointing to industrial and electrical demand linked to AI, as well as trends in wafer-fab equipment, the machines used to produce chips.
Citi lifted its price target to $66 from $54 and maintained a Neutral rating after transferring coverage. The bank updated its valuation model, extending estimates to 2027 from 2026.
Onsemi, a major provider of power and sensing chips for automotive and industrial applications, tends to see its results swing with the ups and downs of those sectors more than many headline AI firms. This kind of exposure can work for or against it, depending on whether investors favor “growth” or “cycle” plays at the moment.
Policy risks are also weighing on the sector. The White House labeled a new 25% national security tariff on select high-end semiconductors as just a “phase one” move, hinting at potential additional measures down the line, Reuters reported. Reuters
Higher targets don’t guarantee a lift in the stock. If demand from auto and industrial sectors cools off or clients hold back on inventory, the next earnings call could shift from talk of a “rebound” to a more cautious “wait-and-see.” Competition in power semiconductors is fierce, and pricing pressure lurks close behind.
After Monday’s close, traders will return Tuesday aiming to gauge the tone from earnings season and any fresh policy moves affecting chip supply chains. Onsemi’s next earnings release is set for Feb. 9, per Investing.com — marking the next major event for the stock.
