ON 8-K SEC Filing Analysis

Latest settled — T+20d

ON ▲ +25.89% at T+20d

LONG call ✓ call won +25.89% · α vs SPY +20.94% · entry $102.18 → $128.64

Next anchor: T+60d in 7w

Currently $116.79 · +14.29% from $102.18 entry

Entry anchored
May 4, 2026
via day open

T+1d

+3.15%

call +3.15% · α +1.77%

$105.40

settled 6w ago

T+5d

+1.89%

call +1.89% · α -0.10%

$104.11

settled 5w ago

T+20d

+25.89%

call +25.89% · α +20.94%

$128.64

settled 11d ago

T+60d

—

call — · α —

—

in 7w

Price Chart

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Executive Summary

ON Semiconductor reported Q1 2026 non-GAAP EPS of $0.64, beating consensus of $0.62 by 3.2%, and revenue of $1,513M, marginally above the $1,490M estimate. The company guided Q2 2026 revenue to $1,535-$1,635M and non-GAAP EPS to $0.65-$0.77, implying sequential growth. AI data center revenue more than doubled YoY, supporting a cyclical recovery narrative.

Key Financial Metrics

Guidance

$1,535M-$1,635M

initiated

Free Cash Flow

$217.2M

Gross Margin

38.5%

Actionable Insight

ON's beat-and-raise quarter, especially the AI data center inflection, signals a cyclical turnaround. Traders should watch for continued strength in PSG segment and margin expansion. The raised guidance supports a bullish stance in the near term.

Key Facts

Q1 2026 revenue $1,513.3M, +4.7% YoY from $1,445.7M
Non-GAAP EPS $0.64 vs consensus $0.62 (beat)
Q2 2026 guidance: revenue $1,535M-$1,635M, non-GAAP EPS $0.65-$0.77
GAAP gross margin 38.5%, non-GAAP gross margin 38.5% (Q1 2025: 40.0% non-GAAP)
Non-GAAP operating margin 19.1% vs 18.3% a year ago
AI data center revenue more than doubled YoY
Share repurchases of $346M in Q1, ~160% of free cash flow
Free cash flow of $217.2M vs $454.7M in Q1 2025

Financial Impact

EPS beat by $0.02 (+3.2%), revenue beat by ~$23M (+1.6%); guidance midpoint implies 5% sequential revenue growth

revenueepsgross marginfree cash flowshare repurchases

Risk Factors

GAAP net loss of $33.4M due to $329M restructuring charges
AMG and ISG segments still declining YoY (down 5% and flat)
Free cash flow down sharply to $217M from $455M a year ago
Macro uncertainty and semiconductor cyclicality could slow recovery

Market Snapshot

Exchange

Nasdaq

Sector

Semiconductors & Related Devices

Analyst Consensus

45% bullish (44 analysts)

Documents Analyzed

This report is based on 6 SEC documents filed with EDGAR.

Document	Accession Number
8-K Filing (Primary)	0001140361-26-018868
Document: ef20072220_8k.htm	0001140361-26-018868
Document: 0001140361-26-018868-index-headers.html	0001140361-26-018868
Document: 0001140361-26-018868-index.html	0001140361-26-018868
Document: 0001140361-26-018868.txt	0001140361-26-018868
8-K Data (Synthetic)	0001140361-26-018868

7 reports for ON

T+1T+5T+20T+60

Track record builds as more directional reports settle.

Filters

Reports for ON — sortable, filterable
	Type				Now
May 7, 2026 5w ago	8-K MIXED ★ 5/10	$100.32 $133.93	▲ +33.50%	▲ +30.36%	$116.79 (+16.41%)
May 7, 2026 5w ago	Press Release MIXED ★ 6/10	$100.32 $133.93	▲ +33.50%	▲ +30.36%	$116.79 (+16.41%)
May 6, 2026 5w ago	8-K MIXED ★ 6/10	$105.40 $133.93	▲ +27.06%	▲ +24.28%	$116.79 (+10.80%)
May 4, 2026 5w ago	8-K BULLISH ★ 7/10	$102.18 $128.64	▲ +25.89%	▲ +20.94%	$116.79 (+14.29%)
Apr 28, 2026 6w ago	Press Release NEUTRAL ★ 4/10	$93.23 $127.00	▲ +36.22%	▲ +30.75%	$116.79 (+25.27%)
Apr 27, 2026 6w ago	Press Release BULLISH ★ 6/10	$97.99 $127.00	▲ +29.60%	▲ +24.64%	$116.79 (+19.18%)
Apr 2, 2026 10w ago	DEFA14A NEUTRAL ★ 3/10	$62.16 $100.81	▲ +62.17%	▲ +52.29%	$116.79 (+87.87%)

US Market Status

Market Closed — Opens Mon (49h)

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