ON Stock Analysis
💡 Quick Answer
Across 4 APEX technical signals, ON is currently split between bullish and bearish readings — 0 bullish, 0 bearish as of 2026-06-11. Run a live analysis to see the current composite score.
ON has ATR of 5-8% and is the most direct mid-cap semiconductor play on EV powertrain adoption. Specifically silicon carbide (SiC) traction inverters.
ON Semiconductor (onsemi) is a leading power management and image sensing semiconductor company, focused on energy-efficient silicon carbide (SiC) power devices for electric vehicles, traction inverters, and industrial motor control. Its ELKHART LAKE SiC MOSFET platform is used in traction inverters that convert DC battery power to AC motor output in EVs. Beyond automotive, onsemi makes CMOS image sensors (used in automotive cameras and industrial machine vision), power management ICs, and signal chain components.
Why Do Traders Watch ON?
ON has ATR of 5-8% and is the most direct mid-cap semiconductor play on EV powertrain adoption. Specifically silicon carbide (SiC) traction inverters. Post-earnings moves of 10-15% are typical. ON competes with Wolfspeed and STMicroelectronics for SiC automotive design wins. The EV adoption rate directly determines onsemi's SiC revenue trajectory, making monthly EV sales data from Tesla, BYD, and major OEMs leading indicators for ON's results.
Is ON a Buy Right Now? Current Signal Readings
Onsemi's silicon carbide design win pipeline. The total potential lifetime revenue from SiC MOSFET design wins at EV manufacturers. Is the most important forward-looking indicator. Each design win announcement from a major EV OEM (Tesla, GM, BMW, Volkswagen, BYD) with a disclosed lifetime revenue value above $500M confirms onsemi is securing the next generation of EV powertrain content per vehicle.
Onsemi's automotive revenue as a percentage of total. Growing from 45% to 55%+ over 2022-2025. Reflects the intentional portfolio shift away from lower-margin consumer/industrial semiconductors toward high-margin automotive SiC. When automotive revenue grows above 10% year-over-year with SiC specifically growing above 40%, the mix shift is accelerating.
ON's RSI swings dramatically with EV adoption sentiment. RSI below 35 during EV demand slowdown fears. When onsemi's design win pipeline and SiC backlog remain multi-year committed. Has been a reliable contrarian entry as the 5-7 year EV electrification trend reasserts itself over quarterly demand variability.
Onsemi's strategy includes controlling its SiC wafer supply chain through internal crystal growing and wafer fabrication. Reducing dependency on Wolfspeed and securing cost advantages. Progress milestones in SiC wafer yield improvement and internal supply as a percentage of total SiC production above 60% signal structural cost advantage that widens onsemi's SiC margin over pure fabless competitors.
📋 ON Key Stats for Traders
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