--- title: "Weekly Recap | ON Semiconductor +9.96%, revised Synaptics deal in focus" type: "News" locale: "en" url: "https://longbridge.com/en/news/300850509.md" description: "ON Semiconductor (ON) added 9.96% this week to close at $84.89, compared with a 0.27% decline for the S&P 500 — outperforming by about 10.23 percentage points. The week’s range was 16.03%, and daily turnover averaged 12.1m shares, about 30% above the 60-day median. Monday (28 Sep) opened lower and touched the week’s low of $74.11 before closing down. Tuesday and Wednesday held a narrow $75-77 range. Thursday saw a pickup in both price and volume, closing at $80.08." datetime: "2026-10-03T07:24:39.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/300850509.md) - [en](https://longbridge.com/en/news/300850509.md) - [zh-HK](https://longbridge.com/zh-HK/news/300850509.md) generator: "portal-rs" --- # Weekly Recap | ON Semiconductor +9.96%, revised Synaptics deal in focus ## The Week ON Semiconductor (ON) added 9.96% this week to close at $84.89, compared with a 0.27% decline for the S&P 500 — outperforming by about 10.23 percentage points. The week’s range was 16.03%, and daily turnover averaged 12.1m shares, about 30% above the 60-day median. Monday (28 Sep) opened lower and touched the week’s low of $74.11 before closing down. Tuesday and Wednesday held a narrow $75-77 range. Thursday saw a pickup in both price and volume, closing at $80.08. Friday (2 Oct) gapped higher, hit the week’s high of $86.45, and closed at $84.89. ## Key Events The main company-specific development came on Friday (2 Oct), when ON Semiconductor and Synaptics announced a revised merger agreement. ON would acquire Synaptics for $123 per share in cash, a deal worth roughly US$5.7b. The announcement lifted ON across after-hours, pre-market, and regular trading, while Synaptics jumped more than 14% pre-market. Earlier in the week, industry-level stories pointed to rising demand for AI server power and analogue chips, Bank of America listed top semiconductor stocks to own into year-end, and ON was named among the beneficiaries of AI computing—related capex. Separately, group president Sudhir Gopalswamy disclosed the sale of 15,578 shares for about $1.25m. ## Analyst Ratings As of 2 Oct, 30 institutions covered ON Semiconductor: 12 rated it buy, 2 overweight, 16 hold, and none underweight or sell. The consensus rating is buy, with a consensus target price of $104.27, about 22.83% above the current price of $84.89. Target prices range from $75 to $150, reflecting a wide spread. ON ranks 13th among 78 institutions in the semiconductor industry. During the week, Needham reiterated a buy rating with a $116 target, while Tristan Gerra maintained a hold rating and a $108 target. ## The Week Ahead On the macro front, Monday (5 Oct) brings the final US S&P Global services PMI and the ISM non-manufacturing PMI, with prior readings of 58.7 and 55.4 respectively. Tuesday (6 Oct) sees the international trade balance, previously at -88.6 and expected at -102. Wednesday (7 Oct) includes the EIA weekly crude oil inventory data. On the company side, the revised Synaptics deal announced this week will keep regulatory approval and market reaction on investors’ radar. ## In Short The rally in ON shares coincided with the revised Synaptics acquisition terms, while the industry narrative around AI power and analogue chips also heated up. The consensus rating is buy and the consensus target sits above spot, yet the latest session’s flow shows large orders as net sellers and small orders as net buyers, and the P/E of about 52x remains in the higher part of its recent range. These signals point in different directions. What matters next is the pace of integration, the durability of AI-related demand, and whether macro data disturbs the high-multiple segment. *This article is generated by LongbridgeAI from market data, for information only and not investment advice.* ### Related Stocks - [ON.US](https://longbridge.com/en/quote/ON.US.md) ## Related News & Research - [ON Semiconductor Analyst's 5 Key Takeaways from Synaptics Acquistion](https://longbridge.com/en/news/300812426.md) - [Onsemi And Synaptics Announce Revised Merger Agreement](https://longbridge.com/en/news/300729053.md) - [Tom Lee Predicts 'Largest Crypto Bull Market Ever' but ETH Craters 5%](https://longbridge.com/en/news/301303745.md) - [Micron Stock Price Forecast: Unlikely to Break Record High of $1,255 in Short Term Amid Taiwan Strike Risk](https://longbridge.com/en/news/301253443.md) - [PepsiCo Is Handing Market Share to Coca-Cola, Analyst Warns](https://longbridge.com/en/news/301308211.md) --- > **Disclaimer: This article is for reference only and does not constitute any investment advice.**