ON Semiconductor Executives Sell Big: Insider Trading Sparks Investor Watchdog Frenzy

Insider Selling at ON Semiconductor: What It Means for Investors

On February 17, 2026, Group President of PSG, Keeton Simon, sold a total of 48,860 common shares of ON Semiconductor at roughly $71.60 per share, reducing his stake to 198,995 shares. This sale is part of a broader pattern of short‑term trading by Simon and other senior executives that has drawn attention from both institutional investors and retail traders. While the transaction itself is small relative to the company’s $28.5 billion market cap, the timing and volume raise questions about insider sentiment and the company’s near‑term outlook.

A Snapshot of Recent Insider Activity

Simon’s latest sell is preceded by two other sales in the week—one of 5,032 shares on February 10 and another of 9,232 shares on February 6—both executed at prices between $65.20 and $67.38. These transactions were followed by a large 21,000‑share sell on December 4, 2025, when the share price was $55.72. The pattern shows a tendency to liquidate positions when the stock is near its 52‑week high or during periods of moderate upside, suggesting a “profit‑taking” strategy rather than a loss‑seeking divestiture.

At the same time, other ON executives—including CEO Hassane El‑Khoury and CFO Thad Trent—have been selling sizable blocks of shares in February, with Trent alone off‑loading more than 80,000 shares across multiple trades. The collective insider selling volume in February amounts to well over 250,000 shares, a figure that is notable given the company’s relatively low daily trading volume. For investors, the key question is whether these sales reflect a broader confidence in the company’s fundamentals or an attempt to mitigate personal risk as the semiconductor cycle turns.

Implications for Investors and the Company’s Future

The insider selling, coupled with a modest 0.75 % weekly decline in the stock, does not yet signal a catastrophic shift in ON Semiconductor’s valuation. The firm’s price‑earnings ratio remains high at 249, but its market cap and 52‑week high/low range suggest that the stock is trading near a sustainable valuation floor. Analysts continue to view ON as a solid player in the analog and discrete semiconductor space, with its product portfolio positioned to benefit from rising demand for power‑management ICs in data centers and electric vehicles.

That said, the timing of the sales—aligned with a 17.63 % monthly gain and a 26.75 % yearly increase—may indicate that insiders are locking in gains ahead of potential volatility. If the company faces supply‑chain constraints or competitive pressure in the coming quarters, the stock could experience sharper swings. Investors should monitor subsequent earnings reports, guidance revisions, and any regulatory filings that could impact the company’s growth trajectory.

Keeton Simon: A Profile of an Executive Trader

Keeton Simon’s insider trades over the past year paint a picture of a manager who prefers to maintain a significant but not controlling stake in ON Semiconductor while actively managing risk. His most recent sales were executed at or near the upper end of the 52‑week range, and his average sale price over the past six months was approximately $66.20—roughly 9 % above the December 2025 average. Simon’s transaction history shows a mix of buys and sells, with a net buying activity in February 5th (23,287 shares) that was quickly reversed in the following days. This “buy‑sell‑buy” pattern suggests a tactical approach rather than a long‑term investment thesis.

In addition to ON Semiconductor, Simon holds positions in several PSG portfolio companies, and his insider trades tend to be executed in short bursts. Market observers note that his trading cadence often coincides with quarterly earnings releases and product launch announcements, implying that he may be positioning his holdings in response to internal corporate signals rather than external market noise.

Takeaway for Market Participants

For portfolio managers and retail investors alike, the insider activity at ON Semiconductor signals a prudent, risk‑averse stance among senior executives. While the recent sales do not necessarily portend a decline in the company’s fundamentals, they do underscore the importance of staying vigilant for potential catalysts that could trigger further volatility. Keeping an eye on the company’s earnings guidance, supply‑chain updates, and broader semiconductor sector trends will be crucial in assessing whether ON Semiconductor’s current valuation will hold or whether a rebalancing of investor sentiment is on the horizon.