ON Semiconductor Corporation’s Stock Price Dips to $63.46, Marking a 3.86% Decrease: Time to Buy?

ON Semiconductor Corporation (ON)

63.46 USD -2.55 (-3.86%) Volume: 7.19M

ON Semiconductor Corporation’s stock price stands at 63.46 USD, witnessing a dip of -3.86% this trading session with a trading volume of 7.19M, reflecting a year-to-date percentage change of -24.03%, indicating a challenging performance for the tech stock.

Latest developments on ON Semiconductor Corporation

On Semiconductor has been making strategic moves in the semiconductor industry, with recent acquisitions and developments shaping its stock price movements today. The company’s purchase of a vacant plant near Syracuse indicates expansion plans, while industry innovations like Lam Research Corporation’s Dextro cobot for maintenance highlight a focus on efficiency. Additionally, the rise of AI in the semiconductor market, as predicted by Tokyo Electron CEO, and advancements in quantum computing technology by MicroCloud Hologram Inc., are driving factors. Despite setbacks like Gov. Tina Kotek dropping plans for semiconductor industry expansion in Hillsboro, the overall outlook remains positive with support from regions like Arizona and Karnataka. With a dynamic landscape ahead, On Semiconductor is poised for further growth and market impact.

ON Semiconductor Corporation on Smartkarma

Analysts on Smartkarma, like Baptista Research, have been closely monitoring On Semiconductor Corporation’s recent financial performance. According to Baptista Research‘s report on the company’s third-quarter earnings for 2024, On Semiconductor demonstrated operational resilience by meeting or exceeding its revenue, gross margin, and earnings per share guidance. Despite challenges in the macroeconomic environment, the company’s strategic developments have positioned it for long-term growth. Baptista Research is optimistic about On Semiconductor‘s mass market strategy and inventory management, which are driving their positive outlook on the company’s future valuation.

In another report by Baptista Research on On Semiconductor Corporation, analysts discussed the company’s second-quarter performance in 2024. The report highlighted challenges faced by Onsemi in an inventory-heavy environment but also noted significant strategic advancements made by the company. Despite posting revenue in line with guidance at $1.74 billion, there was a decline from the previous year. The non-GAAP gross margin also saw a slight decrease to 45.3%, attributed in part to underutilization due to softened demand. Baptista Research is evaluating whether the expansion of On Semiconductor‘s Silicon Carbide business can offset these challenges and contribute to the company’s future growth.

A look at ON Semiconductor Corporation Smart Scores

Smart Score is a compound score for the Company indicating its overall outlook. It is derived by taking an equally weighted average of underlying Factor scores computed by Smartkarma

On Semiconductor Corporation, a supplier of analog and discrete semiconductors, has received mixed ratings in the Smartkarma Smart Scores. While the company scores high in growth potential, with a score of 5, its dividend score is low at 1. This indicates that investors may not see significant returns in the form of dividends. In terms of value and resilience, On Semiconductor scores a moderate 3, suggesting a stable performance in these areas. With a momentum score of 3, the company is expected to maintain its current pace of growth in the market.

Looking ahead, On Semiconductor‘s long-term outlook seems promising, particularly in terms of growth potential. However, investors may need to consider the lower dividend score and weigh it against the company’s overall performance. With a solid foundation in supplying analog and discrete semiconductors for data and power management, On Semiconductor is positioned to capitalize on the increasing demand for such products in the market.

Disclaimer: This article by Smartkarma is general in nature and based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Note that our articles may not factor in the latest price-sensitive company announcements or qualitative material.
While all reasonable care has been taken in the preparation, Smartkarma makes no assurance about the accuracy of any generated data or content. All content is indicative only and should be independently checked for accuracy and confirmed before use. Smartkarma accepts no responsibility for any loss or damage caused as a result of any inaccuracy or error within the Lab online tools or generated data.
Have feedback on this article? Concerned about the content? Get in touch with us directly.

💡 Before it’s here, it’s on Smartkarma