ON Semiconductor Corporation’s Stock Price Skyrockets to $72.23, Celebrating a Striking +8.80% Leap in Value

ON Semiconductor Corporation (ON)

72.23 USD +5.84 (+8.80%) Volume: 9.51M

ON Semiconductor Corporation’s stock price soared to $72.23, marking an impressive +8.80% increase in the recent trading session with a robust trading volume of 9.51M. Despite a year-to-date (YTD) decrease of -13.53%, the recent performance signals a potential rebound for ON’s stock.

Latest developments on ON Semiconductor Corporation

Today, On Semiconductor stock price movements are influenced by various key events in the semiconductor industry. Entegris has signed a supply deal with On Semiconductor, while EFC plans to invest $210 million in semiconductor chemicals. Additionally, NSF has awarded RIT nearly $3 million to advance semiconductor technologies. The collaboration between NSF and Intel Corporation in semiconductor education projects is also impacting the market. Furthermore, recent developments in Vietnam and Malaysia aiming to bolster their semiconductor industries are contributing to the overall market sentiment. With increasing investments and advancements in semiconductor technologies, the future looks promising for On Semiconductor and the industry as a whole.

ON Semiconductor Corporation on Smartkarma

Analysts at Baptista Research have provided bullish coverage on On Semiconductor Corporation, highlighting the company’s strong performance in Q1 2024. With revenue reaching $1.86 billion and a non-GAAP gross margin of 45.9%, the company exceeded market expectations. Baptista Research points to ON Semiconductor’s innovative power and sensing technologies as key drivers for its growth, with a 30% increase in new design wins and market share in silicon and silicon carbide. The research report also mentions the company’s adeptness at navigating market dynamics and its potential for future price appreciation.

In another report by Baptista Research, analysts focus on ON Semiconductor’s growth in the silicon carbide business. Despite challenging market conditions, the company concluded the fourth quarter of 2023 with strong results, including a non-GAAP gross margin of 46.7%. The report highlights ON Semiconductor’s ability to adapt and make structural adjustments over the past three years, leading to improved performance. With a bullish sentiment on the company’s future prospects, Baptista Research provides valuable insights for investors looking to understand On Semiconductor‘s potential in the semiconductor industry.

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 has a promising long-term outlook, with strong scores in growth and momentum according to Smartkarma Smart Scores. The company excels in its potential for future expansion and shows positive momentum in the market. However, its dividend score is low, indicating limited returns for investors in terms of payouts. Overall, On Semiconductor‘s value and resilience scores are moderate, suggesting a stable but not exceptional performance in these areas.

As a supplier of analog, standard logic, and discrete semiconductors for data and power management, On Semiconductor is positioned well for future growth and innovation. With a focus on integrated circuits and analog ICs, the company offers a range of products in various packages to meet market demands. While it may not be the top choice for dividend-seeking investors, On Semiconductor‘s strong scores in growth and momentum indicate a promising trajectory 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.
Have feedback on this article? Concerned about the content? Get in touch with us directly.

💡 Before it’s here, it’s on Smartkarma