0953 GMT - ON Semiconductors' $7 billion acquisition of Synaptics makes strategic sense but won't drive the group's share price up, Jefferies' analysts write. The acquisition diversifies the company's business base, giving it a foothold in leading-edge physical AI, the analysts say. But the acquisition isn't pitched at giving the company a near-term earnings boost. "We would frame the impact as incrementally positive rather than transformative," they say. The deal gives the chip maker increased exposure to robotics, but the company's product mix is now more tilted toward consumer technology--a sector with typically lower valuations. ON Semiconductor shares fall more than 12% premarket. (josephmichael.stonor@wsj.com)

(END) Dow Jones Newswires

June 26, 2026 05:53 ET (09:53 GMT)

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