StocksMedium•3 November 2026•
1 min read
ON Semiconductor Stock Gains on Ferric Acquisition and Higher AI Data Center Targets
Key Facts
1ON Semiconductor acquired Ferric for $600 million to bolster AI power delivery capabilities.
2The company raised its long-term AI data center targets following Q3 results.
ON Semiconductor acquired Ferric for $600 million to bolster its power delivery capabilities for artificial intelligence. Benzinga reported that the company also raised its long-term AI data center targets following its third-quarter results, signaling a strategic shift toward high-growth infrastructure.
ON closed at $70.11 on November 2, 2026, after trading between a day high of $74.77 and a day low of $69.88. The acquisition and revised guidance aim to offset initial negative market reactions to the company's Q3 earnings report by focusing on AI sector catalysts.