The beat and strong Q3 guidance, especially in AI data center, support positive momentum. However, historical T+20 performance on ON shows negative alpha after similar reports; monitor for follow-through and consider taking profits on strength given the stock's tendency to fade.
Price Chart
Executive Summary
onsemi reported Q2 2026 revenue of $1.604B (+9% YoY) and non-GAAP EPS of $0.74, beating consensus estimates of $0.72 by 2.8%. Q3 guidance midpoint of $1.70B revenue and $0.87 non-GAAP EPS signals continued sequential growth, with AI data center revenue expected to more than double in 2026. Free cash flow quadrupled YoY to $425M, and the company announced the planned acquisition of Synaptics.
Key Financial Metrics
Key Facts
- Q2 revenue $1,603.5M, +9% YoY vs $1,468.7M
- Non-GAAP EPS $0.74 beat consensus $0.72 by 2.8%
- GAAP gross margin 38.4%, non-GAAP gross margin 39.3%
- Free cash flow $425.4M quadrupled YoY from $106.1M
- Q3 guidance: revenue $1,650-1,750M, non-GAAP EPS $0.81-0.93
- Share repurchases $332M in Q2; YTD returns ~105% of FCF
- AI data center revenue expected to more than double in 2026
- Announced planned acquisition of Synaptics
- PSG segment revenue +19% YoY; AMG -2% YoY; ISG +7% YoY
Financial Impact
Modest beat on EPS (+2.8%) and revenue (+0.9% vs consensus), strong Q3 guidance midpoint implies 6% sequential revenue growth and 18% sequential EPS growth
Risk Factors
- Auto/industrial demand recovery may lag expectations
- Synaptics acquisition integration and dilution risk
- Macro uncertainty affecting semiconductor cycle
- Historical T+20 underperformance after positive news
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 1 press release from GlobeNewswire.
| Document | Accession Number |
|---|---|
| PRESS-RELEASE Data (Synthetic) | press-3337876 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Aug 21, 2026 6w ago | S-4 | $74.21 $71.72 | ▼ −3.36% | ▼ −4.37% | $83.81 (+12.94%) |
Aug 13, 2026 7w ago | 425 | $81.56 $76.14 | ▼ −6.65% | ▼ −4.90% | $83.81 (+2.76%) |
Aug 13, 2026 7w ago | 8-K | $81.56 $76.14 | ▼ −6.65% | ▼ −4.90% | $83.81 (+2.76%) |
Aug 3, 2026 8w ago | 8-K | $80.78 $72.65 | ▼ −10.06% | ▼ −8.83% | $83.81 (+3.75%) |
Aug 3, 2026 8w ago | Press Release | $80.78 $72.65 | ▼ −10.06% | ▼ −8.83% | $83.81 (+3.75%) |
Jun 30, 2026 13w ago | 425 | $94.54 $89.04 | ▼ −5.82% | ▼ −4.79% | $83.81 (−11.35%) |
Jun 26, 2026 13w ago | 425 | $88.57 $86.81 | ▼ −1.99% | ▼ −1.71% | $83.81 (−5.37%) |
Jun 26, 2026 13w ago | 425 | $88.57 $86.81 | ▼ −1.99% | ▼ −1.71% | $83.81 (−5.37%) |
Jun 26, 2026 13w ago | 425 | $88.57 $86.81 | ▼ −1.99% | ▼ −1.71% | $83.81 (−5.37%) |
Jun 26, 2026 13w ago | 425 | $88.57 $86.81 | ▼ −1.99% | ▼ −1.71% | $83.81 (−5.37%) |
US Market Status
Subscribe to SecBot
Get Real-Time SEC Filing Intelligence
Comprehensive SEC filing analysis delivered the moment filings hit EDGAR. Sentiment scoring, impact analysis, and actionable insights for every material event.
Try SecBot Free Coming soon: SecBot Pro with alerts, watchlists, and API access