ON Semiconductor Corporation (ON)
73.97 USD -4.30 (-5.49%) Volume: 11.84M
ON Semiconductor Corporation’s stock price is currently at 73.97 USD, experiencing a dip of -5.49% this trading session with a high trading volume of 11.84M, reflecting a year-to-date percentage change of -11.44%, highlighting a challenging year for the tech giant in the stock market.
Latest developments on ON Semiconductor Corporation
ON Semiconductor stock price surged today by 11.5% following the release of their Q2 earnings report, where they exceeded both top-line and bottom-line estimates. This impressive performance has propelled ON Semiconductor to beat Wall Street expectations and gain the most since 2022. The chipmaker’s strong Q2 results, particularly in the automotive sector, have instilled confidence in investors, leading to a positive outlook for the company’s future. Analysts have raised their forecasts for ON Semiconductor, indicating a promising trajectory for the semiconductor industry as a whole.
ON Semiconductor Corporation on Smartkarma
On Semiconductor has been receiving positive analyst coverage on Smartkarma, with Baptista Research publishing insightful reports on the company’s performance and potential. In their report titled “ON Semiconductor Corporation: Adoption in Low-Cost Electric Vehicles and Broad Technology Offering! – Major Drivers,” Baptista Research highlights the company’s strong Q1 2024 results, including a revenue of $1.86 billion and non-GAAP earnings per share exceeding expectations. The report emphasizes ON Semiconductor’s growth in new design wins and market share in silicon and silicon carbide, attributing it to their innovative power and sensing technologies.
Another report by Baptista Research, “ON Semiconductor Corporation: Growth in Silicon Carbide Business,” praises ON Semiconductor for its impressive performance in the fourth quarter of 2023. Despite facing challenges in the market, the company managed to achieve non-GAAP gross margins of 46.7%, surpassing previous estimates. The report commends ON Semiconductor for its strategic transformations and structural adjustments that have contributed to its success in a competitive market environment.
A look at ON Semiconductor Corporation Smart Scores
| Factor | Score | Magnitude |
|---|---|---|
| Value | 3 | |
| Dividend | 1 | |
| Growth | 5 | |
| Resilience | 3 | |
| Momentum | 3 | |
| OVERALL SMART SCORE | 3.0 |
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 has a bright long-term outlook based on its Smartkarma Smart Scores. With a high Growth score of 5, the company is expected to experience strong expansion in the future. Additionally, its Resilience and Momentum scores of 3 indicate stability and positive market momentum, respectively. However, On Semiconductor‘s Dividend score of 1 suggests that it may not be a strong choice for investors seeking regular income. Overall, the company’s Value score of 3 reflects its fair valuation compared to its peers in the industry.
ON Semiconductor Corporation, a supplier of analog, standard logic, and discrete semiconductors for data and power management, is positioned for long-term success. Its diverse product offerings, including integrated circuits and analog ICs, cater to various market needs. By leveraging its strong Growth score of 5, the company is poised for significant expansion. Despite facing some challenges in terms of dividends, its overall resilience and market momentum bode well for its future performance in the semiconductor industry.
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.
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