ON Semiconductor Corporation’s Stock Price Plummets to $58.31, Marking a Sharp 7.05% Drop

ON Semiconductor Corporation (ON)

58.31 USD -4.42 (-7.05%) Volume: 14.64M

ON Semiconductor Corporation’s stock price dips to 58.31 USD, marking a -7.05% decline this trading session with a trading volume of 14.64M, reflecting a year-to-date (YTD) percentage change of -6.76%, suggesting potential investment opportunities.

Latest developments on ON Semiconductor Corporation

ON Semiconductor’s stock price hit a 52-week low at $59.34 amidst a flurry of semiconductor industry developments. GlobalFoundries is strategizing for success in the semiconductor market, while Arizona and the Netherlands collaborate on semiconductor initiatives. The Semiconductor Industry Association welcomes the announcement of a new CHIPS for America R&D facility in Arizona, further boosting the sector. Arizona secures a federal semiconductor research hub, with ASU selected as a partner for advanced packaging. Vijay Raghunathan joins a national advisory board to shape the U.S. semiconductor workforce, strengthening Purdue’s leadership in the field. Evercore ISI sees over 10% potential upside for ON Semiconductor stock, highlighting portfolio gains. The semiconductor supply chain sees the establishment of a third R&D facility in Tempe, signaling continued growth and innovation in the industry.

ON Semiconductor Corporation on Smartkarma

Analysts at Baptista Research on Smartkarma have been closely following On Semiconductor Corporation’s recent financial performance. In their report titled “ON Semiconductor Corporation: Mass Market Strategy & Inventory Management Driving Our Optimism! – Major Drivers,” they highlight the company’s ability to meet or exceed guidance in revenue, gross margin, and earnings per share for the third quarter of 2024. Despite challenges in the macroeconomic environment, strategic developments have positioned the company for long-term growth. Baptista Research is conducting an independent valuation of the company using a Discounted Cash Flow (DCF) methodology to evaluate future price influences.

Furthermore, in another report titled “ON Semiconductor Corporation: Can The Silicon Carbide Business Expansion Offset These Challenges? – Major Drivers,” Baptista Research discusses Onsemi’s second quarter of 2024 financial performance. The company faced challenges in an inventory-heavy environment but made significant strategic advancements. With revenue of $1.74 billion aligning with guidance but showing a decline from the previous year, On Semiconductor‘s non-GAAP gross margin slightly decreased to 45.3%. Analysts are evaluating whether the expansion of the silicon carbide business can offset these challenges and contribute to the company’s future success.

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, a supplier of analog, standard logic, and discrete semiconductors, is showing a promising long-term outlook based on its Smartkarma Smart Scores. With a high score in Growth, the company is expected to expand and increase its market share in the future. Additionally, its scores in Value and Resilience indicate a stable financial position and ability to withstand market fluctuations. However, the low score in Dividend suggests that investors may not see significant returns in the form of dividends from this company.

Overall, On Semiconductor‘s Smartkarma Smart Scores paint a positive picture for the company’s future prospects. While there may be some challenges in terms of momentum, the strong scores in Growth and Resilience indicate that the company is well-positioned to thrive in the semiconductor industry. Investors looking for a growth-oriented investment may find On Semiconductor to be a promising choice based on these scores.

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