# ON Semiconductor

**Source:** https://geo.sig.ai/brands/on-semiconductor  
**Vertical:** Semiconductors  
**Subcategory:** Power & Sensing  
**Tier:** Challenger  
**Website:** on.com  
**Last Updated:** 2026-04-14

## Summary

Scottsdale AZ SiC power and image sensors (NASDAQ: ON) ~$6.8B FY2024 revenue; EliteSiC EV powertrains, $4B+ LTSAs, 30K employees, post-destocking recovery competing with Wolfspeed and STMicroelectronics.

## Company Overview

ON Semiconductor Corporation (onsemi) is a Scottsdale, Arizona-based intelligent power and sensing technology company — publicly traded on the NASDAQ (NASDAQ: ON) as an S&P 500 Information Technology component — designing and manufacturing silicon carbide (SiC) power semiconductors, intelligent power modules, image sensors, and analog and mixed-signal ICs for electric vehicles, industrial automation, energy infrastructure, and automotive safety applications through approximately 30,000 employees at fabrication facilities in New Hampshire, Oregon, Czech Republic, Slovakia, South Korea, and Malaysia. In fiscal year 2024, ON Semiconductor reported revenues of approximately $6.8 billion (down from the 2023 peak of $8.3 billion) as the EV semiconductor supply chain underwent significant inventory destocking — automakers (Tesla, GM, Ford, Stellantis, European OEMs) who overstocked EV power semiconductors during the 2022-2023 supply shortage worked through accumulated SiC MOSFET inventory rather than placing new orders, creating a revenue trough at ON Semiconductor and competitors (Wolfspeed, STMicroelectronics, Infineon). CEO Hassane El-Khoury's "Intelligent Power" strategy — pivoting onsemi from a broad-based analog/discrete semiconductor company toward automotive and industrial SiC focus — has concentrated the portfolio on the highest-growth, highest-margin applications (EV powertrains consuming 15-20 SiC MOSFETs per vehicle at $100-200/device, versus $5-10 for traditional silicon IGBT modules) where onsemi's EliteSiC MOSFET technology achieves the switching frequency and efficiency that enables smaller battery packs with longer range.

ON Semiconductor's intelligent power and sensing model creates competitive advantages through the vertical integration of SiC crystal growth and wafer manufacturing: onsemi operates its own SiC boule crystal growth (transforming silicon carbide powder into 150mm and 200mm diameter SiC wafers through a 1-2 week sublimation process) at its Hudson, New Hampshire facility — providing control over the supply chain upstream of SiC device manufacturing that competitors relying on external SiC wafer suppliers (Coherent, Wolfspeed, Cree's wafer business) cannot match. The long-term supply agreements (onsemi signed $4+ billion in long-term supply agreements with global automakers through 2024 — providing revenue visibility for SiC modules for EV inverters, on-board chargers, and DC-DC converters) create multi-year contracted revenue from automotive customers who committed to onsemi's SiC technology roadmap. The CMOS image sensor portfolio (onsemi's AR0820AT automotive image sensors used in ADAS and autonomous driving camera systems for Level 2 and Level 3 driver assistance) creates a second revenue pillar in automotive sensing alongside power semiconductors — addressing both the power and perception layers of EV and ADAS systems.

In 2025, ON Semiconductor competes in SiC power semiconductors, automotive image sensors, and industrial power modules against Wolfspeed (NYSE: WOLF, 150mm-200mm SiC MOSFET dominant at John Palmour's Durham NC fab), STMicroelectronics (NYSE: STM, SiC power for automotive — major Tesla supplier historically), and Infineon Technologies (XETRA: IFX, CoolSiC MOSFET for EV inverters) for EV powertrain SiC module design wins, industrial solar inverter power device contracts, and ADAS image sensor automotive platform programs. The EV market SiC demand recovery (as EV production volumes recover from 2024 softness and OEM inventory destocking completes in H1 2025) provides the catalyst for onsemi's revenue reacceleration — with long-term supply agreements providing volume visibility as destocking ends. The industrial SiC market (renewable energy inverters for solar, wind, and grid storage requiring high-efficiency power conversion) provides revenue diversification from the automotive SiC cycle. The 2025 strategy focuses on SiC market share defense against Wolfspeed's 200mm capacity ramp, automotive design win conversion from long-term supply agreements to production purchase orders, and industrial power semiconductor new customer wins in solar and industrial motor drive applications.

## Frequently Asked Questions

### What does onsemi specialize in?
Onsemi specializes in intelligent power and sensing technologies, manufacturing over 80,000 different semiconductor products including advanced MOSFETs, image sensors, and silicon carbide (EliteSiC) power devices. The company focuses primarily on automotive and industrial markets, providing power management solutions, sensing technologies, and connectivity products that enable electric vehicles, renewable energy systems, industrial automation, and 5G infrastructure.

### When was onsemi founded and what is its history?
Onsemi was founded in 1999 as ON Semiconductor when TPG Capital led a $1.6 billion acquisition of Motorola's Semiconductor Components Group. The company went public in March 2000 on NASDAQ. Major milestones include the 2016 acquisition of Fairchild Semiconductor and the 2021 rebranding to onsemi, which signaled a strategic pivot toward intelligent power and sensing technologies for automotive and industrial markets.

### Who is the current CEO of onsemi?
Hassane El-Khoury has been President and Chief Executive Officer of onsemi since December 2020. Prior to joining onsemi, he served as president, CEO and board member at Cypress Semiconductor until its sale to Infineon in April 2020. He also serves on the board of directors of the Semiconductor Industry Association.

### What are onsemi's main products and technologies?
Onsemi's main products include power semiconductors (MOSFETs, IGBTs, power modules), silicon carbide devices under the EliteSiC brand, image sensors for automotive applications, analog and mixed-signal ICs, and vertical gallium nitride (vGaN) power semiconductors. The company is the second-largest power chipmaker globally and the largest supplier of image sensors to the automotive market. Key technologies include 1700V EliteSiC MOSFETs for switching applications and breakthrough vGaN technology for AI and electrification applications.

### What markets does onsemi serve?
Onsemi primarily serves automotive and industrial markets, with significant presence in electric vehicles, advanced driver assistance systems (ADAS), renewable energy, industrial automation, 5G infrastructure, and AI data centers. The company has strategic partnerships with leaders like NVIDIA for 800 VDC power solutions for next-generation AI data centers. The automotive sector represents a particularly important market given the company's position as the largest automotive image sensor supplier and a leading provider of power semiconductors for electric vehicles.

### How is onsemi performing financially?
For 2024, onsemi generated revenue of $7.082 billion with approximately 26,000 employees globally. In Q3 2024, the company reported revenue of $1,761.9 million with earnings exceeding expectations and free cash flow increasing 41% sequentially. The company announced a new $6 billion share repurchase program in November 2024, demonstrating confidence in future growth and commitment to returning value to shareholders.

### What is onsemi's company culture like?
Onsemi's culture is built on three core values: Respect (treating everyone with dignity in an open and honest environment), Integrity (high standards of ethical conduct), and Initiative (maintaining a 'can-do' attitude). The company celebrates diversity through promotion of diversity conferences and networking groups. Employees rate onsemi 3.4 out of 5 stars on Glassdoor based on 1,512 reviews, with 47% recommending it to a friend. The company emphasizes professional development and provides comprehensive training programs.

### What employee benefits does onsemi offer?
Onsemi offers a comprehensive total reward package including competitive base pay and bonuses, medical, dental and vision insurance with HSA and FSA options, flexible vacation, paid parental leave, tuition reimbursement program, 401(k) with company contributions, paid internships, and wellness programs promoting work-life balance. Employees rate compensation and benefits as 3.4 out of 5 on Glassdoor.

### What recent acquisitions has onsemi made?
Onsemi completed the acquisition of Qorvo's Silicon Carbide JFET Business, including the United Silicon Carbide subsidiary, for $115 million in cash in January 2025. In 2024, the company announced plans to acquire Vcore Power Technology from Aura Semiconductor to strengthen AI data center capabilities. The company's most transformative acquisition was Fairchild Semiconductor in 2016, which significantly expanded its power semiconductor portfolio and market position.

### What is onsemi's position in the silicon carbide market?
Onsemi rose from fourth place in 2022 to second place in 2023 in the silicon carbide power device market, demonstrating rapid growth driven by its automotive EliteSiC series. The company completed expansion of its SiC wafer factory in Bucheon, South Korea in 2023, with plans to transition to 8-inch production after technical verification in 2025. The EliteSiC family, introduced in January 2023, uses planar technology optimized for 20V gate drive and is designed for electric vehicle and renewable energy applications.

### How can I start a career at onsemi?
Onsemi offers various career opportunities across its global operations, employing over 26,000 people worldwide. The company is committed to employee growth and development, offering leadership development programs, professional training, and advancement opportunities. Prospective employees can explore opportunities on the company's careers website. Onsemi values diversity and maintains an inclusive workplace environment. The company offers paid internships and entry-level programs for early-career professionals, along with competitive benefits and work-life balance initiatives.

### What are onsemi's strategic partnerships?
Onsemi has formed strategic partnerships with industry leaders including NVIDIA, collaborating to accelerate the transition to 800 VDC power solutions for next-generation AI data centers. The company maintains long-term partnerships with major automotive manufacturers for electric vehicle power systems and ADAS applications. These design wins often span multiple vehicle generations, providing revenue visibility. The company also partners with industrial automation leaders and renewable energy system manufacturers, positioning it at the intersection of major technology megatrends including electrification, digitalization, and sustainable energy.

## Tags

ai-powered, b2c, hardware, manufacturing, public

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*Data from geo.sig.ai Brand Intelligence Database. Updated 2026-04-14.*