I Picked ON Semiconductor as My Top Stock for 2026. It's Up 53%, but Is It Still a Great Value?
2026-02-21 20:25:00 ET
Shares of ON Semiconductor (NASDAQ: ON) are up 53% since I singled it out for 2026 and 31% year to date. All of which means nothing now, because all investors really care about is where the stock is heading next.
Peddling past performance wins no prizes. Still, despite the soaring share price, I think there's substantial value in the stock, and it's not too late to buy in.
The company's power and sensing chips make it a play on electrification and automation, and it has increased its focus on silicon carbide (SiC) and gallium nitride (GaN) chips, where it already has a leadership position. SiC chips can operate at very high temperatures and high voltage, making them ideal for use in electric vehicles ( EVs ), renewable energy, EV chargers, and industrial motors. GaN chips operate at high switching speeds without losing energy and are ideal for AI data centers, EVs, and aerospace and defense applications.
NASDAQ: ON
ON Trading
-2.37% G/L:
$58.92 Last:
1,615,751 Volume:
$59.65 Open:
