04:46 PM EST, 11/18/2025 (MT Newswires) -- ON Semiconductor (ON) said late Tuesday that its board has approved a new share repurchase program of up to $6 billion over the next three years, effective Jan. 1, 2026.

The new program succeeds the prior $3 billion authorization ending Dec. 31, under which the company bought back $2.1 billion of shares, using nearly all of its 2025 free cash flow, the company said.

The authorization expires on Dec. 31, 2028, it added.

Shares of the company were up 3.9% in recent after-hours activity.