ON Semiconductor is trading 4.4% up at $90.53 in pre-market action, rebounding after last week’s sharp drop tied to its $7 billion all-stock Synaptics acquisition announcement.
- The move is primarily driven by a broader recovery in semiconductor shares and renewed AI optimism as investors bargain-hunt following the recent sector selloff.
- Chip stocks and futures are generally trading higher, providing positive momentum for the stock despite a lack of fresh company-specific news.