onsemi reports Q3 growth and raises AI data center revenue target

On November 2, 2026, onsemi reported third-quarter revenue of $1.72 billion for the period ended October 2, up 11% year over year, with GAAP diluted EPS of $0.79, non-GAAP diluted EPS of $0.90, and free cash flow of $489 million. The company forecast fourth-quarter revenue of $1.715 billion to $1.815 billion and non-GAAP diluted EPS of $0.95 to $1.07. onsemi also announced an agreement to acquire Ferric, raising its 2030 AI data center revenue target by $500 million to more than $3 billion, and revised its planned Synaptics acquisition to approximately $5.7 billion in cash from the previous $7 billion stock-based agreement.