New York, January 18, 2026, 19:48 EST — The market is now closed.
- Stifel bumped up its price target on ON Semiconductor to $60 from $50 but kept its Hold rating intact.
- ON shares edged up 0.1% to $60.33 ahead of the U.S. holiday break.
- Stock index futures slipped following fresh tariff headlines, shifting traders’ attention to Tuesday’s reopening.
ON Semiconductor (Nasdaq: ON) kicks off the short U.S. trading week with a lift after Stifel raised its price target to $60 from $50, keeping a Hold rating in place. Analyst Tore Svanberg pointed to a “pipeline of design wins” as a crucial factor behind expected margin gains ahead. 1
The news arrives amid a calm in U.S. markets. Wall Street is shut Monday, January 19, for Martin Luther King Jr. Day. Trading picks back up Tuesday. 2
After the closing bell, sentiment turned sour. S&P 500 futures tumbled roughly 0.9%, and Nasdaq futures slipped about 1.1% amid thin holiday trading. The declines followed President Donald Trump’s threat to impose new tariffs on eight European nations tied to a dispute over Greenland, according to Reuters. 3
ON stock closed Friday at $60.33, up 6 cents after fluctuating between $60.22 and $61.76 throughout the day. About 6.1 million shares changed hands. The iShares Semiconductor ETF rose roughly 1.6%, Texas Instruments gained around 1.3%, while Analog Devices and NXP Semiconductors both slipped nearly 0.6%.
Semiconductors grabbed attention before the weekend. The Philadelphia SE Semiconductor index climbed 1.2% on Friday, while the S&P 500 and Nasdaq barely budged. Investors kept positions light ahead of the long holiday. “Most investors will take that as a win two weeks into the year,” said Anthony Saglimbene of Ameriprise Financial. Bruce Zaro at Granite Wealth Management warned that “the middle part of January tends to be pretty choppy,” with monthly options expiration—when equity options contracts expire—often sparking volatility. 4
ON Semiconductor is grappling again with a familiar issue: will demand for autos and industrial gear firm up soon? If orders stay uneven, will cost controls and a better product mix be enough to protect its margins? The company supplies power management chips and sensors to vehicles, factories, and data centers.
The situation could change fast. Should trade tensions escalate, cyclical chip stocks and high-multiple tech shares stand to suffer, particularly as futures have already slipped ahead of Tuesday.
Earnings are coming up next. Nasdaq’s calendar puts ON Semiconductor’s report around February 9, though that could change if the company updates its timeline. 5
Tuesday’s open will test the stock’s momentum — can buyers stay put after last week’s surge, or will they pull back as tariff concerns and market nerves creep in?
