ON Semiconductor Corp. reports developments tied to onsemi's intelligent power and sensing technologies for automotive, industrial and AI data center end markets. Recurring updates include earnings releases, margin and cash-flow commentary, share repurchases, capital-structure actions, and strategy presentations.
Company news also covers design wins and customer collaborations involving EliteSiC power technology, FS7 insulated-gate bipolar transistor products, hybrid power integrated modules, electric-vehicle platforms, renewable energy systems, solar inverters and energy storage applications.
onsemi (ON) plans to announce its third-quarter financial results after market close on November 2, 2026. The quarter ended October 2, 2026. A conference call will follow at 5 p.m. Eastern Time on November 2, with a live webcast available through the company’s Investor Relations website. A replay will be available approximately one hour after the broadcast and remain accessible for 30 days.
onsemi (ON) announced that Sungrow has adopted its EliteSiC hybrid power module technology for the PowerTitan 3.0 energy storage platform. The modules use silicon carbide, a semiconductor material, for power conversion in utility-scale battery storage. Compared with the previous-generation platform, the new architecture improves inverter-level efficiency by 0.4% and supports power conversion units rated up to 450 kW.
onsemi estimates that the module’s efficiency improvement could save more than 475 MWh annually in a 100 MW battery storage installation compared with the previous-generation module.
Gentherm (NASDAQ: THRM) has completed its combination with Modine’s Performance Technologies business, which will operate as a Gentherm division. The transaction used a Reverse Morris Trust structure: Modine spun off the business into a subsidiary that then merged with a Gentherm subsidiary. Former Gentherm holders own approximately 56.38% of the combined company, and Modine shareholders own approximately 43.62%, excluding overlapping ownership.
Gentherm acquired the Modine brand, domains and trademarks and will go to market as Modine. Its board declared a $2.07-per-share special dividend, payable October 7, 2026, to Gentherm holders of record September 28, 2026. Bill Presley and Jon Douyard remain CEO and CFO; Katrin Schatz becomes interim president of the acquired division. Paul Mascarenas joined the board at closing, increasing it to 10 members.
onsemi (ON) amended its merger agreement to acquire Synaptics (SYNA) for approximately $5.7 billion in an all-cash transaction. The revised price is $123 per share, compared with an aggregate value of approximately $7 billion under the prior agreement. The amendment follows an unsolicited competing proposal. Synaptics’ board unanimously supported the amended transaction.
onsemi expects immediate accretion to non-GAAP earnings per share, an adjusted earnings measure. Beyond previously announced $200 million in annual run-rate synergies, it expects additional benefits from revenue synergies and bringing some Synaptics production in-house after the initial 18 months post-close. Cash on hand and committed financing will fund the acquisition. Closing remains expected by mid-2027, subject to Synaptics shareholder and required regulatory approvals. The U.S. Federal Trade Commission has approved the transaction; other jurisdictions are reviewing it.
onsemi (ON) presented a long-term growth strategy on Sept. 16, 2026, centered on solving power constraints across AI, automotive and industrial markets, targeting a $213 billion total addressable market by 2030.
The company plans to leverage common technology platforms across automotive, industrial, AI data center and emerging applications, moving from individual components to higher-value system solutions. This platform-based approach is expected by the company to expand revenue potential, increase R&D leverage and lessen dependence on any single end market.
onsemi highlighted three core platforms: high-voltage technologies spanning silicon, silicon carbide and gallium nitride including its exclusive vertical GaN; the Treo analog/digital/high-voltage “intelligence layer”; and the Embedded Power Platform, which uses the wafer as the package to tightly integrate multiple devices for higher power density. These capabilities are aimed at enabling “physical AI” systems operating at the edge, beyond the data center.
onsemi (ON) announced a strategic technology engagement with Subaru to evaluate onsemi's Embedded Power Platform (EPP) for future electrified-vehicle architectures.
The arrangement gives Subaru early access to EPP engineering samples, simulation models and technical expertise to assess how an integrated power-system approach could improve vehicle efficiency, performance and development simplicity. EPP embeds multiple semiconductor devices directly into a silicon-based wafer-level package to deliver more power in less space, targeting smaller, lighter and more efficient traction inverters and scalable power levels. The initial phase focuses on early engineering evaluation and technical learning, providing onsemi with customer insights to guide further EPP development.
onsemi (ON) launched its Embedded Power Platform (EPP) on September 16, 2026, a new architecture that uses the silicon wafer itself as the package to jointly optimize electrical, mechanical and thermal performance for power systems.
EPP enables integration of silicon, SiC and GaN devices, embedding FETs, drivers and controllers in a single wafer-level package. The company reports that, depending on application, this can deliver approximately 3–5x higher power density, faster development cycles and reduced design complexity. Early examples include an AI solid-state circuit breaker about 50% smaller and 20% cooler than existing designs, and EV traction inverters with up to 4x higher power density and 15% lower power losses versus conventional approaches.
onsemi (Nasdaq: ON) reported Q2 2026 revenue of $1.6035 billion, up 9% year-over-year, with GAAP gross margin of 38.4% and operating margin of 16.1%. GAAP diluted EPS was $0.56, while non-GAAP diluted EPS was $0.74, growing roughly four times faster than revenue, according to the company.
Free cash flow reached $425.4 million, roughly quadrupling year-over-year, lifting free cash flow margin from about 7% to 27%. Cash from operations rose 150%. The company repurchased $332 million of shares in the quarter, bringing year-to-date shareholder returns to about 105% of free cash flow. Segment revenue grew 19% in PSG, fell 2% in AMG, and rose 7% in ISG. onsemi announced a planned acquisition of Synaptics, new AI data center design wins, the launch of its GaNEXUS gallium nitride power portfolio, and an extension of its automotive power role with Rivian’s R2 platform.
For Q3 2026, onsemi guides revenue to $1.65–$1.75 billion, non-GAAP gross margin of 40.0–42.0%, and non-GAAP diluted EPS of $0.81–$0.93.
onsemi (Nasdaq: ON) plans to release its financial results for the second quarter ended July 3, 2026, after market close on Monday, August 3, 2026. A conference call will follow at 5 p.m. Eastern Time, accessible via webcast on the company’s Investor Relations website or through a pre-registered teleconference line, with a replay available online for 30 days.
onsemi (Nasdaq: ON) signed definitive agreements to divest two manufacturing facilities in Tarlac, Philippines and Mountain Top, Pennsylvania as part of its Fab Right strategy to optimize its global manufacturing footprint.
The Tarlac site is being sold to Greatek Electronics, with closing expected in three to six months, and includes a long-term supply agreement to support ongoing production. The Mountain Top facility is being sold to Silex Microsystems, with closing targeted for January 2028 and an extended transition to move production to other onsemi sites.
These actions are expected to deliver approximately $35 million in annual cost savings, with initial savings beginning in 2027 and full run-rate savings in 2028, supporting sustained gross margin expansion and a more efficient manufacturing network.