FMR LLC Reports 8.2% Stake in ON Semiconductor

Schedule 13G/A Analysis: ON Semiconductor Corp & FMR LLC

Executive Summary

On October 7, 2026, FMR LLC (Fidelity) filed Amendment No. 13 to Schedule 13G, disclosing beneficial ownership of 31,915,449.72 shares of Common Stock of ON Semiconductor Corp as of September 30, 2026. This position represents 8.2% of the outstanding common shares.

Key Ownership Details

• Reporting Entities: FMR LLC and Abigail P. Johnson (Director, Chairman, and CEO of FMR LLC).
• Class Title: Common Stock (CUSIP: 682189105).
• Aggregate Beneficial Ownership: 31,915,449.72 shares.
• Percent of Class: 8.2%.
• Voting Rights (FMR LLC):
  • Sole Voting Power: 29,764,143.08 shares
  • Shared Voting Power: 0 shares
• Dispositive Power:
  • Sole Dispositive Power: 31,915,449.72 shares
  • Shared Dispositive Power: 0 shares
• Entities Covered (Exhibit 99):
  • FIAM LLC
  • Fidelity Diversifying Solutions LLC
  • Fidelity Institutional Asset Management Trust Company
  • Fidelity Management & Research Company LLC (beneficially owns 5% or more independently)
  • Fidelity Management Trust Company
  • Strategic Advisers LLC

Investor Implications

• Nature of Holding: The filing is made under Rule 13d-1(b), certifying that the shares were acquired and are held in the ordinary course of business without the purpose or effect of changing or influencing the control of the issuer.
• Significance: As this represents Amendment No. 13, it reflects standard periodic institutional position tracking and rebalancing by Fidelity rather than an activist move or sudden accumulation.