New York, Jan 13, 2026, 04:33 EST — Premarket
- ON shares plunged in the last session and are edging down again in early premarket trading.
- Before the opening bell, traders are gearing up for the U.S. CPI inflation report.
- Upcoming triggers include this week’s macro data and onsemi’s earnings report due in early February.
ON Semiconductor Corporation’s shares edged down 0.3% in early premarket Tuesday, following a 5.5% tumble in the previous session. The chipmaker is off to a sluggish start this week, with the stock last seen trading at $58.59 in premarket action.
The timing is crucial as the U.S. consumer price index (CPI), a major inflation indicator, will be released at 8:30 a.m. ET. This figure often shakes up rate forecasts, which directly affect tech stock valuations. Higher-than-expected inflation typically puts pressure on longer-dated growth shares first.
Investors in chips are eyeing Taiwan Semiconductor Manufacturing Co’s upcoming results this week for clues on semiconductor demand. “AI demand is clearly accelerating,” said Shay Boloor, chief market strategist at Futurum Equities, in remarks reported by Reuters just before the earnings release. Reuters
Onsemi, headquartered in Scottsdale, Arizona, unveiled a fresh $6 billion share buyback program starting Jan. 1, set to span three years. CFO Thad Trent described the bigger buyback as a sign of “disciplined capital management.” CEO Hassane El-Khoury added that the company is channeling investments into power and sensing tech aimed at automotive, industrial, and AI data center sectors. onsemi
The broader chip sector showed some early stability Tuesday. The iShares Semiconductor ETF climbed around 0.5% in premarket trading, even as NXP Semiconductors, Texas Instruments, and Analog Devices slipped between 1% and 2%.
During the final regular session, ON kicked off at $61.92, dropped to a low of $58.19, and closed at $58.75. Roughly 9.5 million shares changed hands. This shift pushed the stock down from the upper end of its recent trading range.
Company filings appear quiet on the surface. The firm’s EDGAR log hasn’t posted a new current report since mid-November, and the latest insider sale recorded in SEC ownership filings dates back to early December.
The CPI report might carry some added volatility. Economists anticipate December inflation to bounce back following a government shutdown that disrupted data gathering in October, which in turn distorted the previous month’s figures, Reuters noted. Oscar Munoz, chief U.S. macro strategist at TD Securities, suggested the report could reveal a “meaningful payback” from those earlier distortions. Reuters
The downside scenario is straightforward. Should inflation come in hotter than expected, bond yields could spike, squeezing valuations for chipmakers—particularly those valued on long-term growth. Plus, the sector’s ties to autos and industrial demand could quickly resurface as a risk.
Immediate focus falls on Tuesday’s CPI release at 8:30 a.m. ET, followed by Wednesday’s producer price report, per the Labor Department’s calendar. Looking past this week’s economic data, Nasdaq indicates onsemi will announce earnings on Feb. 9.
