On February 9, 2026, ON Semiconductor Corporation (ON) posted Q4 results that were a classic case of “look past the headline”. While the 11.2% revenue slide (landing at $1.53 billion) caught the initial attention of the bears, the underlying story is a deliberate pivot toward high-margin “intelligent power.” Despite the cyclical drag in automotive and industrial sensors, onsemi still managed a non-GAAP EPS beat of $0.64, proving that their “FabRight” efficiency model is actually holding the line.
The real excitement, however, is in the data center. Onsemi quietly cleared over $250 million in AI-related revenue for 2025, positioning its Silicon Carbide (SiC) and vertical Gallium Nitride (vGaN) tech as the “secret sauce” for power-hungry AI clusters. By backing this up with a massive $6 billion share buyback program, management is sending a clear signal: they are no longer a commodity chipmaker. They are becoming a specialized power leader sitting at the exact intersection of the green energy move and the AI revolution.
ON Stock Live After Earnings Report
On Monday, February 9, 2026, after market close, Steve Teilmann and Josh Smith broke down the Q4 results against the backdrop of a massive capital rotation from Software-as-a-Service (SaaS) into AI hardware. The session centered on the “Hardware Dominance” trend, as onsemi (ON) joined the semiconductor sector’s volatile reaction after a minor revenue miss ($1.53B) triggered a tactical retest of the $60 support level.
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