11 Worst Performing Stocks in S&P 500 So Far in 2025

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5. ON Semiconductor Corporation (NASDAQ:ON)

YTD Decline in Share Price: -35.78%

ON Semiconductor Corporation (NASDAQ:ON) is a semiconductor supplier company that provides intelligent power and sensing solutions.

The stock has been in a relentless downtrend over the last six months, with its share price slumping nearly 48%. As of April 25, ON Semiconductor Corporation (NASDAQ:ON)’s year-to-date decline stood at 35.78%, making it one of the worst performing stocks in the S&P so far in 2025.

ON Semiconductor Corporation (NASDAQ:ON) has been pressured by a slowdown in the EV and industrial markets, which resulted in a 14% drop in revenue and a 23% decrease in diluted earnings per share in fiscal 2024. Experts believe the stock’s weak price action is also making investors cautious amid the ongoing market uncertainty.

Artisan Mid Cap Fund stated the following regarding ON Semiconductor Corporation (NASDAQ:ON) in its Q4 2024 investor letter:

“We ended our investment campaigns in ON Semiconductor Corporation (NASDAQ:ON), Monday.com and CoStar Group during the quarter. ON Semiconductor is a leading designer and manufacturer of chips for power management and image sensing. From a battery-electric vehicle (EV) standpoint, ON is a leading producer of silicon carbide chips. Shares have been under pressure as the company grapples with multiple quarters of inventory right-sizing across the entire auto supply chain and slower-than-expected EV sales growth. While ON is seeing smaller sales declines than peers due to its market share gains, we are concerned that moderating US and European EV growth trends will weigh on the company’s 2025 performance. We exited the position.”

ON Semiconductor Corporation (NASDAQ:ON)’s share price also suffered a setback in early March when Allegro MicroSystems, Inc. rejected the company’s $6.9 billion all-cash acquisition offer. In April, several analysts lowered their price targets for the stock, citing factors ranging from tariff impact to weakness in the automotive markets.

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