Catch up on the essentials
- Seaport Global initiated coverage of ON Semiconductor (NASDAQGS:ON) on September 23, 2026, assigning a Buy recommendation and a $100 price target to the chipmaker.
- The consensus target mean stood at $109.10 as of September 14, 2026, down 0.74% from $109.92 as of August 28, 2026.
- For September 2026, the published tally covered 38 analyst recommendations: 5 strong buy, 14 buy, and 19 hold, a 50.0% positive / 50.0% hold split.
Selected from this article · 2026-09-23
Read on for the full pictureSeaport Global launches Buy rating at $100 target
Seaport Global initiated coverage of ON Semiconductor (NASDAQGS:ON) on September 23, 2026, assigning a Buy recommendation and a $100 price target to the chipmaker. ON shares closed at $73.60 on September 22, 2026, framing the Street target against a $109.10 consensus mean and a $107.10 median, implying roughly a 48.23% spread to the published close.
Prior consensus and target revision
The consensus target mean stood at $109.10 as of September 14, 2026, down 0.74% from $109.92 as of August 28, 2026. Seaport's $100 figure sits below the broader Street median and mean targets, situating the new initiation on the cautious end of the buy-side range even with a constructive rating.
Recent analyst posture across the Street
For September 2026, the published tally covered 38 analyst recommendations: 5 strong buy, 14 buy, and 19 hold, a 50.0% positive / 50.0% hold split. The prior August 2026 period showed 38 ratings of 5 strong buy, 13 buy, and 20 hold, a 47.4% positive / 52.6% hold split, indicating a marginal tilt toward the buy side over the month. Recent separate actions included Truist maintaining Hold on September 18, plus September 17 actions from Stifel (Hold), Mizuho (Outperform), Wells Fargo (Overweight), Rosenblatt (Neutral), and Cantor Fitzgerald (Neutral).
Price action and earnings backdrop cited
ON Semiconductor's price was reported up 0.55% week-over-week from a September 15, 2026 close of $73.20 and down 0.82% month-over-month from an August 21, 2026 close of $74.21. The most recent reported quarterly results, dated August 3, 2026, showed EPS of $0.74 against an estimate of $0.7363 and revenue of $1.6035 billion against an estimate of roughly $1.6359 billion, an EPS beat paired with a revenue miss.
What remains unresolved
Seaport Global's published investment thesis, rating rationale, and valuation methodology behind the $100 target were not detailed in the source materials. The firm's full report and forecast assumptions were not directly available in the evidence ledger.
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