ON
ON Semiconductor Corporation Technology - Semiconductors Investor Relations →
ON Semiconductor Corporation (ON) closed at $65.20 as of 2026-02-02, trading 2.7% below its 200-week moving average of $66.98. This places ON in the below line zone. The stock moved further from the line this week, up from -10.5% last week. With a 14-week RSI of 75, ON is in overbought territory.
Over the past 1296 weeks of data, ON has crossed below its 200-week moving average 27 times. On average, these episodes lasted 16 weeks. Historically, investors who bought ON at the start of these episodes saw an average one-year return of +21.8%.
With a market cap of $26.7 billion, ON is a large-cap stock. The company generates a free cash flow yield of 4.8%. Return on equity stands at 3.9%. The stock trades at 3.3x book value.
Over the past 24.9 years, a hypothetical investment of $100 in ON would have grown to $1003, compared to $854 for the S&P 500. That represents an annualized return of 9.7% vs 9.0% for the index — confirming ON as a market-beating investment and the kind of quality company where buying during 200-week moving average touches has historically been rewarded.
Free cash flow has been volatile over the past several years, making the quality of earnings harder to assess.
Growth of $100: ON vs S&P 500
Monthly data normalized to $100 at start. Vertical dashed lines mark 200-week MA touches.
What Happens After ON Crosses Below the Line?
Across 27 historical episodes, buying ON when it crossed below its 200-week moving average produced an average return of +26.7% after 12 months (median +16.0%), compared to +13.8% for the S&P 500 over the same periods. 63% of those episodes were profitable after one year. After 24 months, the average return was +63.6% vs +29.3% for the index.
Each line shows $100 invested at the moment ON crossed below its 200-week MA. Bold blue = stock average. Gray dashed = S&P 500 average over same periods.
Historical Touches
ON has crossed below its 200-week MA 27 times with an average 1-year return of +21.8% after recovery.
| Crossed Below | Recovered | Weeks | Max Depth | 1-Year Return | Return Since Touch |
|---|---|---|---|---|---|
| Apr 2001 | Nov 2003 | 137 | 86.6% | +4.9% | +1302.2% |
| Apr 2004 | May 2004 | 1 | 1.7% | -28.9% | +1247.1% |
| Jun 2004 | Nov 2004 | 19 | 28.2% | +8.1% | +1445.0% |
| Jan 2005 | Jan 2005 | 3 | 5.7% | +70.1% | +1706.1% |
| Apr 2005 | May 2005 | 3 | 14.3% | +117.2% | +2016.9% |
| Feb 2008 | Apr 2008 | 10 | 20.9% | -22.9% | +910.9% |
| Sep 2008 | Jul 2009 | 42 | 64.0% | +15.5% | +828.8% |
| Jul 2009 | Aug 2009 | 1 | 0.9% | -7.5% | +793.2% |
| Sep 2009 | Oct 2009 | 1 | 0.1% | -3.5% | +770.5% |
| Oct 2009 | Nov 2009 | 3 | 11.1% | -0.1% | +791.9% |
| Jan 2010 | Feb 2010 | 2 | 5.2% | +51.6% | +804.3% |
| May 2010 | Nov 2010 | 26 | 21.1% | +47.7% | +756.8% |
| Aug 2011 | Oct 2011 | 12 | 13.0% | -11.9% | +801.8% |
| Nov 2011 | Nov 2011 | 2 | 8.4% | -21.6% | +778.7% |
| Dec 2011 | Dec 2011 | 1 | 2.5% | -6.4% | +782.3% |
| May 2012 | Jan 2013 | 38 | 24.7% | +6.7% | +772.8% |
| Feb 2013 | Mar 2013 | 1 | 0.9% | +18.5% | +727.4% |
| Apr 2013 | May 2013 | 8 | 9.3% | +21.3% | +731.6% |
| Jun 2013 | Jun 2013 | 1 | 2.8% | +16.8% | +733.8% |
| Jul 2013 | Dec 2013 | 23 | 13.3% | +17.2% | +718.1% |
| Oct 2014 | Nov 2014 | 5 | 10.4% | +33.7% | +771.7% |
| Jan 2016 | Feb 2016 | 8 | 19.5% | +52.5% | +664.4% |
| Jun 2016 | Jul 2016 | 2 | 2.6% | +59.9% | +642.6% |
| Oct 2018 | Oct 2018 | 1 | 0.6% | +31.2% | +346.0% |
| Mar 2020 | Jun 2020 | 13 | 40.6% | +124.6% | +277.3% |
| Nov 2024 | Nov 2024 | 1 | 1.5% | -27.5% | +0.7% |
| Dec 2024 | Ongoing | 61+ | 49.9% | Ongoing | -1.2% |
| Average | 16 | — | +21.8% | — |
Not financial advice. This is an educational tool. Past performance does not guarantee future results. Do your own research before making investment decisions.
Data as of Friday close, 2026-02-02