The company reported Q4 2025 non-GAAP EPS of $0.64 and $1,530.1M revenue, driving a $6B buyback and bullish price target.
ON Semiconductor (ON) posted Q4 2025 non-GAAP EPS of $0.64 on $1,530.1M revenue, alongside record $1,418.6M free cash flow. The company authorized a $6B share buyback and launched vertical GaN power semiconductors to capitalize on AI data center and vehicle electrification demand.
Shares have surged from $41 to $106 over the past year, reflecting a cyclical semiconductor recovery and strong data center power demand. However, valuation concerns persist, with a 340 P/E ratio and segment declines in Q4. The stock trades at $106.02, roughly 13% below its 52-week high of $119.10.
Analysts set a price target of $133.41, implying 25.84% upside over the next 12 months, citing continued momentum in AI and power semiconductor markets.