Equity Profile

ON

ON Semiconductor Corporation

Information TechnologySemiconductors$47.0B

Aug3Mon

Pre-Earnings Brief

UpcomingQ2-2026Pre-Market9:00 AM EDT

Company Snapshot

ON Semiconductor Corporation is a leading provider of semiconductor solutions, focusing on energy-efficient technologies. As the demand for semiconductors grows in various sectors, including automotive and industrial applications, ON plays a crucial role in powering innovations like electric vehicles and smart devices.

Key Metrics to Watch

Earnings Per Share (EPS)

EPS is a key indicator of profitability and will help investors gauge the company's financial health this quarter.

N/A

Revenue Growth

Revenue growth reflects the company's ability to expand its market share and meet demand, which is vital in the competitive semiconductor industry.

N/A

1 more metrics, Wall Street expectations, options signals, track record, and call prep available with Pro.

ON Q2-2026 Earnings Preview

Context

Company Snapshot

Earnings Scorecard·Last 8Q

EPS Beat Streak

EPS Beat Rate

75%

Avg EPS Surprise

+2.95%

Avg Stock Reaction

-2.45%

Last Quarter Recap

In Q1 2026, ON Semiconductor reported an EPS of $0.64, exceeding expectations by 4.58%. However, the stock experienced a slight decline of 0.96% the following day, indicating mixed market reactions.

Management Promises & Guidance

Expectations

Wall Street Expectations

Overall, expectations are mixed as analysts await ON's performance amidst a volatile semiconductor market. Investors are particularly focused on profitability and revenue growth.

Bull Case

The optimistic view hinges on ON exceeding EPS expectations, driven by strong demand in automotive and industrial sectors, which could lead to a significant stock price increase.

Bear Case

Conversely, if ON fails to meet earnings expectations or reports declining revenue, it could trigger a sharp sell-off, reflecting investor concerns about market conditions.

Expectations

Two Questions That Matter

The print will turn on these two things.

What will be the EPS for Q2-2026?

EPS is a critical measure of profitability that investors will closely watch to assess the company's financial health.

How is ON addressing supply chain challenges?

Supply chain issues have impacted many semiconductor companies, and ON's strategy to navigate these challenges will be key to its performance.

Edge

What the Street Is Missing

Why consensus could be wrong

The Street may be underestimating ON's ability to capitalize on the growing demand for electric vehicles and energy-efficient technologies, which could drive stronger-than-expected revenue.

Supporting Evidence

Recent trends indicate increasing orders in the automotive sector, which could boost revenue significantly.

The options market suggests a larger move than historical averages, indicating potential for a surprise.

Insider selling activity may reflect a strategic shift rather than a lack of confidence in the company's future.

Key Risk

If ON's automotive segment shows unexpected growth, it could challenge the current cautious consensus.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

This quarter's performance is under scrutiny as ON navigates a challenging semiconductor landscape, with investor focus on profitability and growth.

Bull Confirmed If

A reported EPS above $0.70 would confirm the bull case, indicating strong demand and effective cost management.

Bear Confirmed If

An EPS below $0.60 would confirm the bear case, raising concerns about profitability and market demand.

Pre-Earnings Positioning

Options Market

Implied Move

±11.91%

Historical Avg

±5.9%

Pricing rich

The options market is pricing in a significant move of nearly 12%, suggesting that traders expect volatility around the earnings report.

Options are pricing ±11.9% while ON has averaged ±5.9% over the last 8 prints — setup is pricing rich.

Detail

ATM IV

0.7%

30d HV

65.5%

Calls (295K)P/C Ratio: 0.29Puts (164K)

Edge

Insider Activity

Open-market trades by officers, directors, and 10%+ holders over the trailing 90 days.

Bought

$0.00

0 sh

0 insiders

Sold

$2.4M

30,000 sh

1 insider

Net

$2.4M

Net selling

Most Active Insiders· 1 open-market trade

Exec VP & CFOThad Trent
$2.4M
Net selling

Preparation

Post-Print Playbook

Likely market behavior by outcome — not investment advice.

Beat & Raise

If ON beats expectations, history suggests a potential stock increase of around 0.7%, confirming strong demand and operational efficiency.

In-Line / Cautious

If results are in line with expectations, the stock may experience muted movement as investors await further guidance.

Miss

A miss could lead to a decline of approximately 11.9%, reflecting investor disappointment and concerns over future growth.

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Any updates on supply chain management and its impact on production.
2Details on revenue growth from the automotive and industrial sectors.
3Insights into pricing strategies and cost management efforts.
4Management's outlook on market demand for semiconductors in the coming quarters.
5Any commentary on competitive positioning within the semiconductor industry.

See the full picture

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Company Snapshot

Key Metrics to Watch

Earnings Per Share (EPS)

EPS is a key indicator of profitability and will help investors gauge the company's financial health this quarter.

N/A

Revenue Growth

Revenue growth reflects the company's ability to expand its market share and meet demand, which is vital in the competitive semiconductor industry.

N/A

1 more metrics, Wall Street expectations, options signals, track record, and call prep available with Pro.

ON Q2-2026 Earnings Preview

Context

Company Snapshot

Earnings Scorecard·Last 8Q

EPS Beat Streak

EPS Beat Rate

75%

Avg EPS Surprise

+2.95%

Avg Stock Reaction

-2.45%

Last Quarter Recap

In Q1 2026, ON Semiconductor reported an EPS of $0.64, exceeding expectations by 4.58%. However, the stock experienced a slight decline of 0.96% the following day, indicating mixed market reactions.

Management Promises & Guidance

Expectations

Wall Street Expectations

Overall, expectations are mixed as analysts await ON's performance amidst a volatile semiconductor market. Investors are particularly focused on profitability and revenue growth.

Bull Case

The optimistic view hinges on ON exceeding EPS expectations, driven by strong demand in automotive and industrial sectors, which could lead to a significant stock price increase.

Bear Case

Conversely, if ON fails to meet earnings expectations or reports declining revenue, it could trigger a sharp sell-off, reflecting investor concerns about market conditions.

Expectations

Two Questions That Matter

The print will turn on these two things.

What will be the EPS for Q2-2026?

EPS is a critical measure of profitability that investors will closely watch to assess the company's financial health.

How is ON addressing supply chain challenges?

Supply chain issues have impacted many semiconductor companies, and ON's strategy to navigate these challenges will be key to its performance.

Edge

What the Street Is Missing

Why consensus could be wrong

The Street may be underestimating ON's ability to capitalize on the growing demand for electric vehicles and energy-efficient technologies, which could drive stronger-than-expected revenue.

Supporting Evidence

Recent trends indicate increasing orders in the automotive sector, which could boost revenue significantly.

The options market suggests a larger move than historical averages, indicating potential for a surprise.

Insider selling activity may reflect a strategic shift rather than a lack of confidence in the company's future.

Key Risk

If ON's automotive segment shows unexpected growth, it could challenge the current cautious consensus.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

This quarter's performance is under scrutiny as ON navigates a challenging semiconductor landscape, with investor focus on profitability and growth.

Bull Confirmed If

A reported EPS above $0.70 would confirm the bull case, indicating strong demand and effective cost management.

Bear Confirmed If

An EPS below $0.60 would confirm the bear case, raising concerns about profitability and market demand.

Pre-Earnings Positioning

Options Market

Implied Move

±11.91%

Historical Avg

±5.9%

Pricing rich

The options market is pricing in a significant move of nearly 12%, suggesting that traders expect volatility around the earnings report.

Options are pricing ±11.9% while ON has averaged ±5.9% over the last 8 prints — setup is pricing rich.

Detail

ATM IV

0.7%

30d HV

65.5%

Calls (295K)P/C Ratio: 0.29Puts (164K)

Edge

Insider Activity

Open-market trades by officers, directors, and 10%+ holders over the trailing 90 days.

Bought

$0.00

0 sh

0 insiders

Sold

$2.4M

30,000 sh

1 insider

Net

$2.4M

Net selling

Most Active Insiders· 1 open-market trade

Exec VP & CFOThad Trent
$2.4M
Net selling

Preparation

Post-Print Playbook

Likely market behavior by outcome — not investment advice.

Beat & Raise

If ON beats expectations, history suggests a potential stock increase of around 0.7%, confirming strong demand and operational efficiency.

In-Line / Cautious

If results are in line with expectations, the stock may experience muted movement as investors await further guidance.

Miss

A miss could lead to a decline of approximately 11.9%, reflecting investor disappointment and concerns over future growth.

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Any updates on supply chain management and its impact on production.
2Details on revenue growth from the automotive and industrial sectors.
3Insights into pricing strategies and cost management efforts.
4Management's outlook on market demand for semiconductors in the coming quarters.
5Any commentary on competitive positioning within the semiconductor industry.