Onsemi's silicon carbide thesis is unraveling as EV adoption slows globally and Chinese SiC suppliers undercut pricing by 30-40%. Tesla supply share has eroded to BYD's in-house program. Automotive image sensor business is being squeezed by Sony and Chinese competitors. The LTSA backlog that once provided visibility is being renegotiated downward.
Thesis reviewed May 29, 2026
ON Semiconductor Corporation is headquartered in United States, which is currently showing elevated risk signals.
🇺🇸United States82EXITView United States risk detail →💻Semiconductors1WATCH| Ticker | Company | Score | Gap | Signal Δ | Action |
|---|---|---|---|---|---|
| AMAT | Applied Materials, Inc. | 11 | +14% | ↓92% | EARLY |
| MU | Micron Technology, Inc. | 11 | +16% | ↓92% | EARLY |
| AMD | Advanced Micro Devices, Inc. | 11 | +14% | ↓92% | EARLY |
| ON | ON Semiconductor Corporation | 11 | -12% | ↓92% | AVOID |
| WOLF | Wolfspeed Inc. | 11 | -29% | ↓92% | AVOID |
| UMC | United Microelectronics Corporation | 11 | +7% | ↓92% | NEUTRAL |
| STM | STMicroelectronics N.V. | 11 | +12% | ↓92% | NEUTRAL |
Investors who hold ON may also have indirect exposure through these country funds.
BYD shifts portion of SiC sourcing to domestic suppliers
Onsemi cuts SiC capacity expansion plans by 40%
Auto image sensor ASPs decline as Chinese supply ramps
Estimates · Yahoo Finance · Not audited figures
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