On Semiconductor Announces Major $6B Share Repurchase Plan

On Semiconductor (ON) shares gained 3% after revealing a three-year, $6 billion share buyback program set to begin on January 1, 2026. This new authorization replaces the current plan scheduled to end on December 31.

The company highlighted that the expanded program reflects its continued commitment to disciplined capital allocation and long-term shareholder value creation.

Strong Track Record of Buybacks

Over the past three years, On Semiconductor has repurchased $2.1 billion worth of its stock.
Management also noted that the company expects to allocate nearly all of its 2025 free cash flow toward continued buybacks.

Restructuring Costs Disclosed

Alongside the repurchase announcement, ON disclosed up to $300 million in restructuring-related costs tied to previously announced operational initiatives.

These actions are part of the company’s ongoing efforts to streamline operations and strengthen long-term profitability.