ON Semiconductor Corporation’s Stock Price Drops to $73.39, Declining by 5.09% in Latest Market Shift

ON Semiconductor Corporation (ON)

73.39 USD -3.94 (-5.09%) Volume: 7.55M

ON Semiconductor Corporation’s stock price is currently at 73.39 USD, experiencing a drop of -5.09% this trading session with a trading volume of 7.55M. The stock has seen a year-to-date percentage change of -12.14%, indicating a turbulent performance for ON’s stock in the market.

Latest developments on ON Semiconductor Corporation

On Semiconductor‘s stock price movements today are influenced by a $210 million investment in the semiconductor industry, particularly in McGregor, Texas by EFC Gases & Advanced Materials. With Citi remaining bullish on the sector but warning on Micron, high-precision motion components are driving advances in semiconductor production. Additionally, Volkswagen has ordered SiC semiconductors from Onsemi for their SSP vehicles, while Merck joins a German research project ‘Semiconductor-X’. The budget 2024 also highlights expectations for more collaboration to help India emerge as a key player in the semiconductor industry. With onsemi being selected to power Volkswagen Group’s next-generation electric vehicles, the market is witnessing significant developments that impact On Semiconductor‘s stock price today.

ON Semiconductor Corporation on Smartkarma

On Semiconductor has been receiving positive analyst coverage on Smartkarma, with Baptista Research publishing research reports on the company. In their report titled “ON Semiconductor Corporation: Adoption in Low-Cost Electric Vehicles and Broad Technology Offering! – Major Drivers,” they highlighted the company’s strong performance in Q1 2024, with revenue of $1.86 billion and a non-GAAP gross margin of 45.9%. The report also mentioned ON Semiconductor’s growth in new design wins and market share in silicon and silicon carbide, showcasing its innovative power and sensing technologies. Baptista Research aims to evaluate various factors that could impact the company’s stock price in the near future and conduct an independent valuation using a Discounted Cash Flow methodology.

Another report by Baptista Research, titled “ON Semiconductor Corporation: Growth in Silicon Carbide Business,” emphasized the company’s achievements in the fourth quarter of 2023. Despite facing challenging market conditions, ON Semiconductor managed to achieve non-GAAP gross margins of 46.7%, exceeding previous expectations. The report noted significant structural adjustments made by the company over the past three years, contributing to its success. With a bullish sentiment, analysts are optimistic about ON Semiconductor’s growth prospects and ability to navigate market dynamics effectively.

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

Based on the Smartkarma Smart Scores, On Semiconductor has a positive long-term outlook. With a high Growth score of 5, the company is expected to experience significant growth in the future. This is supported by its Resilience score of 3, indicating that the company is well-positioned to withstand economic challenges. Additionally, On Semiconductor has a Momentum score of 3, suggesting that it is currently performing well in the market.

However, On Semiconductor‘s Dividend score of 1 may be a concern for investors looking for steady income. Despite this, the company’s overall Value score of 3 indicates that it is reasonably priced compared to its intrinsic value. Overall, On Semiconductor Corporation, which supplies analog, standard logic, and discrete semiconductors for data and power management, appears to have a promising future ahead based on the Smartkarma Smart Scores.

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