ON SEMICONDUCTOR CORP
ON · Semiconductors & Related Devices · 391.9M shares · +2%/yr ↑ shares · EDGAR filings ↗
Net buyback after stock comp: $443M (gross $564M, SBC $121M)
Reference price $100.00 · est. market cap ~$39.2B — last insider sale, 2026-04-24 (estimated from the dated SEC Form 4 price × shares outstanding — not a live quote)
Grade
C58Power/auto chipmaker in a deep downturn — revenue and earnings collapsed — but generating strong free cash flow.
Strengths
- Strong free cash flow — FCF $1.42B (89th), FCF margin 23.7%
- Strong liquidity — current ratio 4.52 (71st)
Risks
- Revenue/earnings collapse — revenue -15.3% (10th), net income -92.3% (23rd)
- Thin margins this cycle — operating margin 1.4%
- Auto/industrial semiconductor cyclicality — per 10-K
Notable findings
- Exec changeRecent 8-K item 5.02 8-K ↗
- Customer concentration~11% of revenue from one customer/distributor — We had one customer, a distributor, whose revenue accounted for approximately 11% and 10% of the total revenue for the years ended December 31, 2025 and 2024, respectively, with sales across all repor
- Fund exitedNotable fund(s) exited this quarter: VANGUARD GROUP INC, RENAISSANCE TECHNOLOGIES LLC
- Strong balance sheetStrong balance sheet — $2.5B cash & investments
- Notable holderHeld by 5 notable fund(s): FMR LLC, STATE STREET CORP, GOLDMAN SACHS GROUP INC +2 more (as of 2026-03-31)
- Insider sellingInsider selling — 12 open-market sale(s) by 4 insider(s) (cluster of 4 insiders, ~$18M, last 6mo) Form 4 ↗
Quarterly revenue
Last 4 quarters · from SEC filings.
Key metrics
Gross margin
33.1%
Operating margin
1.4%
Net margin
2.0%
Return on equity
1.6%
Return on assets
1.0%
ROIC
0.6%
Revenue growth (QoQ)
-2.4%
Net-income growth
-92.3%
Debt / equity
0.4×
Net debt / EBITDA
0.6×
Current ratio
4.5×
Free cash flow
$1.4B
EBITDA
$770M
Tangible book value
$5.6B
Cash & investments
$2.5B
Stock comp / revenue
2.4%
Insider transactions · last 18 months
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| 2026-05-26 | GOPALSWAMY SUDHIR | Tax withheld | 470 | $127.00 |
| 2026-05-14 | CARTER SUSAN K | Grant | 2.0K | — |
| 2026-05-14 | Yan Christine Y | Grant | 2.0K | — |
| 2026-05-14 | Deitrich Thomas | Grant | 2.0K | — |
| 2026-05-14 | KIDDOO BRUCE E | Grant | 2.0K | — |
| 2026-05-14 | MASCARENAS PAUL ANTHONY | Grant | 2.0K | — |
| 2026-05-14 | WATERS GREGORY L | Grant | 2.0K | — |
| 2026-04-24 | Thad Trent | Sell | 30K | $100.00 |
| 2026-04-23 | Thad Trent | Sell | 30K | $93.00 |
| 2026-04-16 | Thad Trent | Sell | 30K | $80.00 |
| 2026-04-03 | MASCARENAS PAUL ANTHONY | Grant | 168 | $62.19 |
| 2026-03-13 | GOPALSWAMY SUDHIR | Sell | 6.1K | $58.67 |
| 2026-02-21 | Thad Trent | Tax withheld | 10K | $69.11 |
| 2026-02-21 | El-Khoury Hassane | Tax withheld | 37K | $69.11 |
| 2026-02-21 | KEETON SIMON | Tax withheld | 7.8K | $69.11 |
| 2026-02-21 | GOPALSWAMY SUDHIR | Tax withheld | 9.6K | $69.11 |
| 2026-02-20 | El-Khoury Hassane | Grant | 75K | — |
| 2026-02-20 | GOPALSWAMY SUDHIR | Grant | 32K | — |
| 2026-02-20 | GOPALSWAMY SUDHIR | Tax withheld | 1.5K | $69.11 |
| 2026-02-20 | Thad Trent | Grant | 36K | — |
| 2026-02-20 | Thad Trent | Tax withheld | 4.2K | $69.11 |
| 2026-02-20 | KEETON SIMON | Grant | 26K | — |
| 2026-02-20 | KEETON SIMON | Tax withheld | 3.1K | $69.11 |
| 2026-02-17 | KEETON SIMON | Sell | 4.6K | $71.56 |
| 2026-02-17 | KEETON SIMON | Sell | 44K | $71.77 |
| 2026-02-12 | Thad Trent | Sell | 2.2K | $73.39 |
| 2026-02-12 | KIDDOO BRUCE E | Gift | 3.6K | — |
| 2026-02-12 | El-Khoury Hassane | Sell | 100 | $73.56 |
| 2026-02-12 | El-Khoury Hassane | Sell | 20K | $73.02 |
| 2026-02-12 | Thad Trent | Sell | 1.3K | $71.70 |
| 2026-02-12 | Thad Trent | Sell | 7.0K | $72.88 |
| 2026-02-12 | Thad Trent | Sell | 50K | $70.87 |
| 2026-02-10 | GOPALSWAMY SUDHIR | Tax withheld | 6.2K | $67.38 |
| 2026-02-10 | El-Khoury Hassane | Tax withheld | 21K | $67.38 |
| 2026-02-10 | Thad Trent | Tax withheld | 6.7K | $67.38 |
| 2026-02-10 | KEETON SIMON | Tax withheld | 5.0K | $67.38 |
| 2026-02-06 | Thad Trent | Tax withheld | 12K | $65.20 |
| 2026-02-06 | GOPALSWAMY SUDHIR | Tax withheld | 6.0K | $65.20 |
| 2026-02-06 | El-Khoury Hassane | Tax withheld | 34K | $65.20 |
| 2026-02-06 | KEETON SIMON | Tax withheld | 9.2K | $65.20 |
| 2026-02-05 | KEETON SIMON | Grant | 2.6K | — |
| 2026-02-05 | Thad Trent | Grant | 31K | — |
| 2026-02-05 | Thad Trent | Grant | 4.4K | — |
| 2026-02-05 | Thad Trent | Grant | 3.4K | — |
| 2026-02-05 | El-Khoury Hassane | Grant | 91K | — |
| 2026-02-05 | El-Khoury Hassane | Grant | 12K | — |
| 2026-02-05 | El-Khoury Hassane | Grant | 9.6K | — |
| 2026-02-05 | GOPALSWAMY SUDHIR | Grant | 23K | — |
| 2026-02-05 | GOPALSWAMY SUDHIR | Grant | 2.6K | — |
| 2026-02-05 | GOPALSWAMY SUDHIR | Grant | 1.2K | — |
| 2026-02-05 | GOPALSWAMY SUDHIR | Grant | 401 | — |
| 2026-02-05 | KEETON SIMON | Grant | 23K | — |
| 2026-02-05 | KEETON SIMON | Grant | 3.3K | — |
| 2025-12-19 | MASCARENAS PAUL ANTHONY | Grant | 189 | $55.21 |
| 2025-12-04 | KEETON SIMON | Sell | 21K | $55.72 |
| 2025-12-03 | Thad Trent | Sell | 20K | $55.05 |
| 2025-10-03 | MASCARENAS PAUL ANTHONY | Grant | 212 | $49.27 |
| 2025-08-13 | El-Khoury Hassane | Sell | 15K | $51.22 |
| 2025-07-03 | MASCARENAS PAUL ANTHONY | Grant | 185 | $56.60 |
| 2025-06-12 | Campbell Alan | Sell | 5.4K | $51.16 |
| 2025-05-26 | GOPALSWAMY SUDHIR | Tax withheld | 470 | $41.27 |
| 2025-05-15 | Campbell Alan | Grant | 5.1K | — |
| 2025-05-15 | Yan Christine Y | Grant | 5.1K | — |
| 2025-05-15 | MASCARENAS PAUL ANTHONY | Grant | 5.1K | — |
| 2025-05-15 | KIDDOO BRUCE E | Grant | 5.1K | — |
| 2025-05-15 | WATERS GREGORY L | Grant | 5.1K | — |
| 2025-05-15 | Deitrich Thomas | Grant | 5.1K | — |
| 2025-05-15 | CARTER SUSAN K | Grant | 5.1K | — |
| 2025-04-04 | MASCARENAS PAUL ANTHONY | Grant | 310 | $33.70 |
| 2025-03-12 | Campbell Alan | Sell | 10K | $43.23 |
| 2025-03-07 | GOPALSWAMY SUDHIR | Tax withheld | 3.3K | $45.40 |
| 2025-02-21 | Thad Trent | Tax withheld | 4.3K | $54.05 |
| 2025-02-21 | KEETON SIMON | Grant | 33K | — |
| 2025-02-21 | KEETON SIMON | Tax withheld | 3.2K | $54.05 |
| 2025-02-21 | El-Khoury Hassane | Grant | 93K | — |
| 2025-02-21 | El-Khoury Hassane | Tax withheld | 12K | $54.05 |
| 2025-02-21 | El-Khoury Hassane | Tax withheld | 12K | $54.05 |
| 2025-02-21 | Thad Trent | Grant | 44K | — |
| 2025-02-21 | GOPALSWAMY SUDHIR | Grant | 33K | — |
| 2025-02-21 | GOPALSWAMY SUDHIR | Tax withheld | 3.9K | $54.05 |
| 2025-02-20 | Thad Trent | Tax withheld | 4.2K | $55.74 |
| 2025-02-20 | KEETON SIMON | Tax withheld | 3.1K | $55.74 |
| 2025-02-20 | GOPALSWAMY SUDHIR | Tax withheld | 1.5K | $55.74 |
| 2025-02-11 | El-Khoury Hassane | Tax withheld | 11K | $47.93 |
| 2025-02-11 | El-Khoury Hassane | Tax withheld | 20K | $47.93 |
| 2025-02-11 | Thad Trent | Tax withheld | 7.1K | $47.93 |
| 2025-02-11 | GOPALSWAMY SUDHIR | Tax withheld | 6.2K | $47.93 |
| 2025-02-11 | KEETON SIMON | Tax withheld | 5.3K | $47.93 |
| 2025-02-10 | KEETON SIMON | Tax withheld | 2.0K | $47.04 |
| 2025-02-10 | Thad Trent | Tax withheld | 3.7K | $47.04 |
| 2025-02-07 | El-Khoury Hassane | Tax withheld | 56K | $51.25 |
| 2025-02-07 | GOPALSWAMY SUDHIR | Tax withheld | 6.4K | $51.25 |
| 2025-02-07 | KEETON SIMON | Tax withheld | 12K | $51.25 |
| 2025-02-07 | Thad Trent | Tax withheld | 20K | $51.25 |
| 2025-02-06 | El-Khoury Hassane | Grant | 44K | — |
| 2025-02-06 | KEETON SIMON | Grant | 28K | — |
| 2025-02-06 | KEETON SIMON | Grant | 8.0K | — |
| 2025-02-06 | KEETON SIMON | Grant | 6.6K | — |
| 2025-02-06 | El-Khoury Hassane | Grant | 24K | — |
| 2025-02-06 | Thad Trent | Grant | 38K | — |
| 2025-02-06 | Thad Trent | Grant | 15K | — |
| 2025-02-06 | Thad Trent | Grant | 8.7K | — |
| 2025-02-06 | GOPALSWAMY SUDHIR | Grant | 28K | — |
| 2025-02-06 | El-Khoury Hassane | Grant | 105K | — |
| 2025-02-06 | GOPALSWAMY SUDHIR | Grant | 5.5K | — |
| 2025-02-06 | GOPALSWAMY SUDHIR | Grant | 2.5K | — |
| 2025-02-06 | GOPALSWAMY SUDHIR | Grant | 803 | — |
All non-derivative Form 4 activity (SEC), newest first.
Notable events (8-K)
| Date | Items | |
|---|---|---|
| 2026-06-25 | Material agreementOtherExhibits | filing ↗ |
| 2026-05-18 | Exec/director changeShareholder vote | filing ↗ |
| 2026-05-12 | Material agreementDebt obligation3.02OtherExhibits | filing ↗ |
| 2026-05-07 | OtherExhibits | filing ↗ |
| 2026-05-06 | OtherExhibits | filing ↗ |
| 2026-05-04 | ResultsExhibits | filing ↗ |
| 2026-03-11 | Exec/director change | filing ↗ |
| 2026-02-09 | ResultsExhibits | filing ↗ |
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 8-K | 2026-06-25 | 2026-06-25 | 0001140361-26-026395 ↗ |
| 8-K | 2026-05-18 | 2026-05-14 | 0001140361-26-021907 ↗ |
| 8-K | 2026-05-12 | 2026-05-06 | 0001140361-26-020642 ↗ |
| 8-K | 2026-05-07 | 2026-05-06 | 0001140361-26-019416 ↗ |
| 8-K | 2026-05-06 | 2026-05-06 | 0001140361-26-019207 ↗ |
| 8-K | 2026-05-04 | 2026-05-04 | 0001140361-26-018868 ↗ |
| 10-Q | 2026-05-04 | 2026-04-03 | 0001097864-26-000014 ↗ |
| 8-K | 2026-03-11 | 2026-03-09 | 0001140361-26-008936 ↗ |
| 10-K | 2026-02-09 | 2025-12-31 | 0001097864-26-000006 ↗ |
| 8-K | 2026-02-09 | 2026-02-09 | 0001140361-26-004405 ↗ |
| 8-K | 2025-11-17 | 2025-11-13 | 0001140361-25-042498 ↗ |
| 8-K | 2025-11-05 | 2025-11-04 | 0001140361-25-040434 ↗ |