Stifel analyst Tore Svanberg reiterated a Hold rating and $75.00 price target on ON Semiconductor (NASDAQ: ON).

The analyst commented, "On Thursday, October 1 (AMC), ON and SYNA amended their June 25, 2026 merger agreement, with ON now acquiring SYNA for $123 per share in cash, an enterprise value of ~$5.7bn vs. ~$7bn under the prior all-stock terms. The amendment follows an unsolicited competing proposal from an unnamed third party, and the SYNA board unanimously determined the amended transaction remains in the best interests of its shareholders. Both ON and SYNA reacted positively to the news after hours."

For an analyst ratings summary and ratings history on ON Semiconductor click here. For more ratings news on ON Semiconductor click here.

Shares of ON Semiconductor closed at $80.08 yesterday.