🔴 ON Semiconductor is trading 4.1% down today on Synaptics acquisition concerns and a broader chip selloff

ON Semiconductor is trading at $83.95 (-4.12%) following negative investor reaction to its all-stock acquisition of Synaptics and a wider downturn in the semiconductor sector.

• The all-stock deal has sparked concerns regarding shareholder dilution and the company's long-term strategic direction.
• The broader chip sector is under pressure after TSMC’s increased spending outlook triggered a selloff, with the SOXX semiconductor ETF dropping 3.80%.