Quarterly ResultAug 3, 2026, 05:03 PM
ON Semiconductor to Acquire Synaptics; Q2 Revenue Up 9.2% to $1.6B
AI Summary
ON Semiconductor announced a definitive agreement to acquire Synaptics Incorporated, with Synaptics stockholders receiving 1.350 shares of ON common stock, expected to close mid-2027. The company reported strong second-quarter 2026 results, with revenue increasing 9.2% year-over-year to $1.60 billion and diluted EPS rising 36.5% to $0.56. Additionally, ON Semiconductor continued its manufacturing realignment program, including workforce reductions and asset impairments, and agreed to divest two manufacturing facilities.
Key Highlights
- ON Semiconductor announced a definitive agreement to acquire Synaptics Incorporated, expected to close mid-2027.
- Q2 2026 revenue increased 9.2% year-over-year to $1.60 billion.
- Q2 2026 diluted EPS rose 36.5% year-over-year to $0.56.
- Net income for the six months ended July 3, 2026, was $194.6 million, a significant turnaround from a prior year loss.
- Power Solutions Group (PSG) Q2 revenue grew 18.7% to $829.0 million.
- Automotive end-market Q2 revenue increased 6.5% to $781.3 million.
- Initiated 2026 Manufacturing Realignment Program, including $163.3 million in asset impairments.
- Agreed to sell two manufacturing facilities for a total of $65 million.
Price Impact
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