ON Semiconductor Corporation
NASDAQ: ON · TECHNOLOGY · SEMICONDUCTORS
Updated 2026-04-29
ON Semiconductor Corporation (ON) Financial Forecast & Price Target 2030
Research-backed projections from analyst consensus, management guidance, and sector analysis.
Price target summary
Management guidance
CEO Hassane El-Khoury has not provided specific revenue targets through 2030 in available earnings calls or investor guidance. Management is focused on silicon carbide expansion, automotive/industrial markets, and renewable energy partnerships (e.g., Sineng Electric design win for 350 kW solar inverters). Near-term 2026 guidance implies modest recovery from 2025 weakness, with management emphasizing inventory normalization and segment stabilization rather than aggressive growth targets.
Revenue & price projection
Financial forecast — research-backed
| Metric | 2023 | 2024 | 2025 | 2026 (E) | 2027 (E) | 2028 (E) | 2029 (E) |
|---|---|---|---|---|---|---|---|
| Revenue | $8.3B | $7.1B | $6.0B | $6.5B | $7.0B | $7.7B | $8.4B |
| Revenue growth | — | -14.2% | -15.3% | 7.8% | 8.8% | 8.7% | 9.3% |
| EPS | $5.16 | $3.98 | $2.35 | $3.00 | $4.15 | $4.80 | $5.60 |
| P/S ratio | — | — | — | 12.0x | 12.0x | 12.0x | 12.0x |
| Implied price | — | — | — | $192.79 | $211.45 | $230.10 | $248.76 |
Catalysts & risks
Methodology
ON Semiconductor Corporation's forward estimates are derived from AI-powered research synthesis combining analyst consensus from 25 Wall Street analysts, management guidance from the latest earnings call, and sector growth forecasts from industry research. Revenue and EPS projections use analyst consensus where available and conservative extrapolation with growth deceleration for outer years. Price targets are calculated using a tiered Price-to-Sales (P/S) methodology, where the P/S multiple is determined by the projected revenue growth rate.
WallStSmart proprietary research model · Not financial advice · Past performance is not indicative of future results · Last researched: April 7, 2026.