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Earnings

Onsemi gains 3.55% as AI data center sales lift third-quarter beat

The chipmaker topped estimates and guided higher for the fourth quarter, though it expects automotive sales to dip as supply shifts.

· AP's Morning Brief

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Image: DrHughManning, Semiconductor wafer (chip-topic stand-in, no logo), CC BY-SA 4.0

Onsemi shares moved higher on Tuesday after the chipmaker reported third-quarter results that topped Wall Street estimates, helped by fast growth in power chips for AI data centers.

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Revenue rose 11% from a year earlier to $1.72 billion, and adjusted earnings came to 90 cents per share, according to the company's release. Analysts polled by LSEG had expected 88 cents a share on revenue of $1.70 billion, CNBC reported. Onsemi said AI data center revenue grew 39% from the prior quarter and 175% from a year earlier.

For the fourth quarter, the company guided revenue to between $1.715 billion and $1.815 billion and adjusted earnings of 95 cents to $1.07 per share. Management said on the earnings call that automotive revenue, which was $777 million in the third quarter, should fall by a high single-digit percentage in the fourth quarter as supply is shifted toward AI data center and industrial customers, before returning to normal levels in the first quarter of 2027, according to Investing.com.

Onsemi closed at $72.60 on the Nasdaq, up $2.49, or 3.55%, from Monday's close of $70.11, after trading at $71.93 as of 3:17 p.m. ET. Chip stocks broadly rebounded on Tuesday after several days of selling, CNBC noted.

Update, Nov 3, 2026: An earlier version gave intraday figures as of 3:17 p.m. ET; updated with official closing prices.

Sources

  1. onsemi (investor relations release) — Q3 2026 revenue $1,722 million ($1.72 billion), up 11% year over year; non-GAAP diluted EPS $0.90 (90 cents); AI data center revenue grew 39% sequentially and 175% year over year; Q4 2026 revenue outlook $1,715 to $1,815 million ($1.715 billion to $1.815 billion); non-GAAP EPS $0.95 (95 cents) to $1.07.
  2. CNBC — ON Semiconductor shares advanced 4% midday Nov. 3, 2026; adjusted EPS 90 cents on revenue of $1.72 billion vs LSEG estimates of 88 cents on $1.70 billion; AI trade and chipmakers rebounded after several days of selling.
  3. Investing.com (earnings call transcript) — Automotive revenue $777 million in Q3; expected to decrease high single-digit percentage in Q4 due to supply reallocation to AI data center and industrial; Q1 2027 expected to return to normalized levels; Q4 guidance $1.715 billion to $1.815 billion, EPS $0.95 to $1.07.
  4. Nasdaq.com quote (ON) — ON last sale $71.93, net change +1.82, +2.60% as of Nov 3, 2026 3:17 PM ET, market open; implied Nov. 2 regular-session price $70.11. Nov 3, 2026 close: $72.60 at 4:00 PM ET (Closed), +2.49, +3.55%.
  5. Yahoo Finance (ON chart data) — ON Nov 2, 2026 regular-session price $70.11; Nov 3 price $71.92 at about 3:17 PM ET.
  6. CNBC quote (ON) — ON official close Nov 3, 2026: $72.60 at 4:00 PM ET, change +2.49 (+3.55%) from Nov 2 close $70.11.
  7. Yahoo Finance historical data (ON) — ON Nov 3, 2026 close $72.60; Nov 2, 2026 close $70.11; change +2.49, +3.55%.