ON Semiconductor Corporation’s Stock Price Plummets to $71.65, Declining by 6.08%

ON Semiconductor Corporation (ON)

71.65 USD -4.64 (-6.08%) Volume: 9.59M

ON Semiconductor Corporation’s stock price stands at 71.65 USD, experiencing a dip of -6.08% this trading session with a trading volume of 9.59M, reflecting a year-to-date decrease of -14.22% in its stock price performance.

Latest developments on ON Semiconductor Corporation

Today, On Semiconductor‘s stock price movement may be influenced by a variety of key events in the semiconductor industry. The US government is investing $75 million in a semiconductor chips plant in Georgia, while Micron and GlobalFoundries are partnering with the National Science Foundation (NSF) on semiconductor workforce initiatives. Additionally, TSMC is projecting annual sales growth of 10% in the semiconductor industry. ON Semiconductor itself has seen above-normal call volume, indicating bullish sentiment. With South Korea unveiling a $19 billion support package for the semiconductor industry and major players like Samsung and Nvidia making strategic moves in the market, the semiconductor sector is experiencing significant activity that could impact On Semiconductor‘s stock performance.

ON Semiconductor Corporation on Smartkarma

Analysts from Baptista Research on Smartkarma have published two bullish research reports on On Semiconductor. The first report, titled “ON Semiconductor Corporation: Growth in Silicon Carbide Business,” highlights the company’s impressive performance in the fourth quarter of 2023. Despite challenging market conditions, ON Semiconductor achieved non-GAAP gross margins of 46.7%, exceeding expectations. The report also mentions significant structural adjustments made by the company over the past three years. The second report, “ON Semiconductor Corporation: Revolutionizing Industrial and Commercial Imaging! – Major Drivers,” praises ON Semiconductor for delivering a positive result and surpassing revenue expectations in the quarter. The company’s strong performance in the Automotive and Industrial segments, driven by demand for silicon and silicon carbide, is highlighted.

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‘s long-term outlook appears promising, with high scores in Growth and Momentum according to Smartkarma Smart Scores. This indicates that the company is expected to experience strong growth and positive market momentum in the future. Additionally, On Semiconductor scores moderately well in Value and Resilience, suggesting a solid foundation and the potential for long-term stability. However, its low score in Dividend may be a concern for investors seeking regular income from their investments.

ON Semiconductor Corporation is a supplier of analog, standard logic, and discrete semiconductors for data and power management. The company’s product offerings include integrated circuits and analog ICs, as well as discrete semiconductors in various surface mount and standard packages. With high scores in Growth and Momentum, On Semiconductor is positioned for future success in the semiconductor industry, although its lower score in Dividend may not be ideal for income-seeking investors.

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