TD Cowen Rates ON Semiconductor (ON) hold, $110 Price Target
TD Cowen has lowered its rating on ON Semiconductor to Hold with a new price target of $110, a 16.35% upside from the current price.
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TD Cowen rated ON Semiconductor Corporation ($ON) "hold" with a $110 price target on June 26, 2026.
Since the rating, $ON is up 4.5% after 1 week, down 1.8% after 1 month and down 20.6% to date (from the $90.65 close on Jun 26, 2026).
ON
ON Semiconductor Corporation
Key Points
- TD Cowen lowered its rating on ON Semiconductor Corporation (NasdaqGS: ON) to Hold on June 26, 2026, with a target price of $110.
- The stock trades at $94.54, which is below the new target, indicating potential upside for investors.
- The consensus among analysts remains positive, with a buy rating and a mean price target of $104.67.
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TD Cowen Lowers Rating on ON Semiconductor
TD Cowen has downgraded its rating on ON Semiconductor Corporation (NasdaqGS: ON) to Hold, with a price target of $110. This change was made on June 26, 2026, as the stock currently trades at $94.54.
TD Cowen vs. the S&P 500
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Implications of the Downgrade
This downgrade reflects a shift in sentiment from TD Cowen, which previously had a more bullish outlook. The new target suggests that the firm sees limited upside potential at the current trading level, which is significantly lower than the previously set targets by other analysts.
Analysts Set New Price Targets
Several other firms have recently provided their ratings on ON Semiconductor. For instance, on October 15, 2026, StoneX initiated coverage with a Buy rating and a target of $110. Stifel maintained a Hold rating with a target of $80 on October 5, while Wells Fargo kept an Overweight rating with a target of $100 on October 2. Needham reiterated its Buy rating with a target of $116, indicating a generally positive outlook despite TD Cowen's downgrade.
Stock Performance Overview
Currently, ON Semiconductor's stock is trading at $94.54, which is below its 52-week high of $134.92 but well above its 52-week low of $44.56. The stock's performance in relation to its new target price implies that there could be room for growth if it can align closer to analysts' expectations.
$ON price target
ON Semiconductor Corporation daily closes and this analyst's $110 target. Not advice.
Recent Earnings
ON Semiconductor reported revenue of about $6.2 billion, reflecting a growth of 9.2% year-over-year. The company has a net margin of approximately 10.2%, which indicates its efficiency in converting revenue into profit. The next earnings report is scheduled for November 2, 2026, and investors will be looking for updates on revenue growth and profitability.
What ON Semiconductor Corporation Does
ON Semiconductor provides a range of intelligent sensing and power solutions, operating across various segments including Power Solutions, Analog and Mixed-Signal, and Intelligent Sensing. The company's diverse product offerings cater to several industries, highlighting its pivotal role in the technology sector.
What's Ahead for ON Semiconductor Corporation
Investors should keep an eye on the upcoming earnings report on November 2, 2026, as well as any further rating changes from analysts. The recent downgrade by TD Cowen serves as a reminder that market conditions can shift, and the 13F filings reflect past positions that may not represent current holdings.
Related Filing Alerts
Source: TD Cowen's rating change on $ON (Jun 26, 2026). Written by software, not financial advice. How we make alerts