ON Semiconductor Corporation’s Stock Price Skyrockets to $76.29, Marking a Stellar 4.77% Increase

ON Semiconductor Corporation (ON)

76.29 USD +3.47 (+4.77%) Volume: 8.17M

ON Semiconductor Corporation’s stock price soared to 76.29 USD, experiencing a robust trading session with a percentage increase of +4.77% and a substantial trading volume of 8.17M. Despite the recent rally, the stock has witnessed a year-to-date percentage decrease of -8.67%.

Latest developments on ON Semiconductor Corporation

Today, the stock price of ON Semiconductor (NASDAQ:ON) is making waves in the market. Recent key events leading up to this movement include Samsung naming Young Hyun Jun as the CEO of their semiconductor business, as the AI chip race intensifies. Additionally, the UK has launched a semiconductor institute, while the EU chips receive a €2.5B boost. On the other hand, there is accelerated order shift effect from U.S. tariff barriers boosting utilization rates at Taiwanese semiconductor foundries. M&A activity in the semiconductor IP market is also set to drive a new growth cycle. With such developments in the semiconductor industry, investors are closely watching the trajectory of ON Semiconductor stock.

ON Semiconductor Corporation on Smartkarma

Analysts at Baptista Research have published two bullish reports on On Semiconductor on Smartkarma. 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 second report, “ON Semiconductor Corporation: Revolutionizing Industrial and Commercial Imaging! – Major Drivers,” emphasizes the company’s success in the Automotive and Industrial segments, driven by strong demand for silicon and silicon carbide. The completion of the world’s largest silicon carbide fab in Bucheon further positions ON Semiconductor for success in the market.

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

Looking at the Smartkarma Smart Scores for On Semiconductor, the company seems to have a promising long-term outlook. With a high Growth score of 5, On Semiconductor is expected to see significant growth in the future. This is supported by a Momentum score of 4, indicating positive market momentum for the company. While the Value and Resilience scores are average at 3, On Semiconductor‘s strong focus on growth and momentum bodes well for its future prospects.

Despite its low Dividend score of 1, On Semiconductor Corporation remains a key player in the semiconductor industry. Specializing in analog, standard logic, and discrete semiconductors for data and power management, the company offers a wide range of products including integrated circuits and analog ICs. With a solid Growth score of 5 and a respectable Resilience score of 3, On Semiconductor is well-positioned to continue its success in the market.

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