ON Semiconductor Corporation’s Stock Price Dips to $73.55, Recording a 2.72% Drop: Is it a Buying Opportunity?

ON Semiconductor Corporation (ON)

73.55 USD -2.06 (-2.72%) Volume: 7.34M

ON Semiconductor Corporation’s stock price stands at 73.55 USD, experiencing a slight dip of -2.72% this trading session with a trading volume of 7.34M, reflecting a YTD percentage change of -11.95%, indicating a need for strategic investment decisions.

Latest developments on ON Semiconductor Corporation

ON Semiconductor stock prices have been influenced by a flurry of recent developments in the semiconductor industry. The US and Mexico’s partnership on semiconductor supply chain development, along with Africa’s efforts to enter the semiconductor value chain, have created an optimistic outlook for the sector. The market’s projected worth of US$ 66.3 Billion by 2032, along with the 11 undervalued semiconductor stocks identified by hedge funds, have further boosted investor confidence. However, warnings about semiconductor chip stocks and the potential impact of climate change on global semiconductor manufacturing have also been noted. The company’s role in propelling Texas as a leader in semiconductor innovation and its performance over the last decade also contribute to the stock’s movements.

ON Semiconductor Corporation on Smartkarma

On Semiconductor, a leading semiconductor company, has been receiving positive analyst coverage on Smartkarma, an independent investment research network. According to Baptista Research, a top independent analyst on the platform, ON Semiconductor has shown remarkable growth in its silicon carbide business. Despite facing challenges in the market, the company managed to achieve non-GAAP gross margins of 46.7% in the fourth quarter of 2023, surpassing previous expectations. This can be attributed to the company’s transformation and structural adjustments made over the past three years.

In another report, Baptista Research highlights ON Semiconductor’s success in revolutionizing industrial and commercial imaging. The company reported a revenue of $2.18 billion in the quarter, beating expectations and achieving a positive result. This was driven by strong demand for both silicon and silicon carbide in the Automotive and Industrial segments. Additionally, ON Semiconductor recently completed the expansion of the world’s largest silicon carbide fab, positioning them to manufacture over 1 million 200-millimeter silicon carbide wafers annually. This is expected to further boost the company’s growth in the future.

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 semiconductors for data and power management, has received an overall score of 3 out of 5 from Smartkarma’s Smart Scores. This indicates a positive long-term outlook for the company. On received a score of 5 for growth, suggesting that the company is expected to see strong growth in the future. This is supported by On’s product offerings, which include integrated circuits and analog ICs. These products are in high demand in the tech industry, indicating potential for growth in the company.

However, On Semiconductor received a low score of 1 for dividend, meaning the company does not currently provide much return to shareholders in the form of dividends. On also received a score of 3 for both value and resilience, indicating that the company is fairly valued and has a moderate level of resilience in the face of market fluctuations. Overall, with a strong score for growth, On Semiconductor shows promise for long-term success in the tech industry.

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