• ON is trading 4.4% down at $90.55 in pre-market sessions, impacted by broader semiconductor sector weakness and profit-taking.
  • The decline comes as chipmakers give back recent gains after significant AI-driven advances and stretched valuations.
  • Separately, ON Semiconductor announced it will divest two manufacturing facilities as part of its "Fab Right" strategy, aiming to improve its cost structure and boost profit margins, with expected annual savings of $35 million.