Pomerantz LLP is investigating claims on behalf of investors of ON Semiconductor Corporation regarding potential violations of federal securities laws. The investigation concerns whether the company and certain of its officers and/or directors engaged in securities fraud or other unlawful business practices. This scrutiny follows ON Semiconductor's announcement of an agreement to acquire Synaptics Incorporated in an all-stock transaction on June 25, 2026. Following the announcement, shares of ON Semiconductor fell by $28.09 per share, or 23.66%, to close at $90.65 per share on June 26, 2026.

Pursuant to the terms of the agreement, Synaptics shareholders will receive 1.35 shares of ON Semiconductor stock for each Synaptics share, representing an enterprise value of around $7 billion. The firm is examining the circumstances surrounding the acquisition and the subsequent market reaction. Investors who suffered losses are encouraged to participate in the investigation to discuss their rights.

Key Details of the Investigation

Investors who incurred losses in ON Semiconductor may contact Danielle Peyton at Pomerantz LLP. The firm can be reached via email at newaction@pomlaw.com or by phone at 646-581-9980, ext. 7980. Additional information is available on the firm's website at www.pomlaw.com .

onsemi is divesting its manufacturing facilities in Tarlac, Philippines, and Mountain Top, Pennsylvania, as part of its Fab Right manufacturing strategy to optimize its global footprint and improve its long-term cost structure. The agreements, signed with Greatek Electronics Inc. and Silex Microsystems, are expected to result in annual cost savings of approximately $35 million, with initial savings beginning in 2027 and the full amount realized in 2028. These actions aim to strengthen the company's competitiveness by aligning resources with the most scalable and technology-aligned operations.

Tarlac, Philippines Transaction

onsemi has entered into an agreement with Greatek Electronics Inc., a Taiwan-based semiconductor company specializing in integrated circuit packaging and testing services. The transaction is expected to close within the next three to six months, subject to customary closing conditions and regulatory approvals. To ensure continuity, the Tarlac site will continue operating as part of onsemi’s manufacturing network throughout the transition period. Additionally, the companies have established a long-term supply agreement to support ongoing production and meet customer commitments post-closure.

Mountain Top, Pennsylvania Transaction

onsemi has also agreed to sell its Mountain Top facility to Silex Microsystems, a Sweden-based semiconductor company. This transaction is scheduled to close in January 2028, pending customary closing conditions and regulatory approvals. The extended transition period is designed to facilitate an orderly transfer of products manufactured at the site to other facilities within onsemi’s network. This structured migration ensures continuity for customers and allows for the transfer of technologies.

Financial Impact and Strategic Alignment

The divestments are a key component of onsemi’s strategy to create a more focused and efficient manufacturing network. By reallocating resources to higher-value operations, the company expects to enhance its ability to deliver sustained value to customers and stakeholders. The projected savings of $35 million per year will contribute to a more optimized cost structure starting in 2027.