ON Semiconductor Corporation’s Stock Price Soars to $65.53, Marking a Robust 6.24% Uptick

ON Semiconductor Corporation (ON)

65.53 USD +3.85 (+6.24%) Volume: 12.69M

ON Semiconductor Corporation’s stock price soared to $65.53, marking a significant trading session increase of +6.24%. Despite a YTD percentage change of -21.55%, the robust trading volume of 12.69M signals investor confidence. Stay updated with ON’s stock performance for potential investment opportunities.

Latest developments on ON Semiconductor Corporation

ON Semiconductor Corp. (ON) has seen significant stock price movements recently, influenced by a range of factors. Amid a general market uptick, ON’s stock fell, raising questions among investors. This comes as Q1 earnings for the company are expected to decline. Adding to the complexity, ON Semiconductor has also seen recent short interest. There are also broader industry factors at play, including a drive to boost the US semiconductor industry, which could have implications for ON and other players in the sector. Federal funding for semiconductor tech centers and the CHIPS program could also influence ON’s trajectory. The semiconductor market is also facing potential disruptions from geopolitical tensions and natural disasters, such as earthquakes in Taiwan.

ON Semiconductor Corporation on Smartkarma

Analysts at Baptista Research on Smartkarma have published bullish insights on On Semiconductor Corporation. In their report titled “ON Semiconductor Corporation: Growth in Silicon Carbide Business,” the analysts highlighted the company’s impressive achievements in the fourth quarter of 2023. Despite facing challenging market conditions, ON Semiconductor managed to exceed expectations with non-GAAP gross margins of 46.7%. The report also noted significant structural adjustments made by the company over the past three years to improve performance.

In another report by Baptista Research titled “ON Semiconductor Corporation: Revolutionizing Industrial and Commercial Imaging! – Major Drivers,” analysts expressed optimism about the company’s future prospects. ON Semiconductor delivered strong results in the quarter, achieving a revenue of $2.18 billion. The report highlighted the company’s success in the Automotive and Industrial segments, driven by robust demand for silicon and silicon carbide. Additionally, the completion of the expansion of the world’s largest silicon carbide fab positions ON Semiconductor to manufacture over 1 million 200-millimeter silicon carbide wafers annually.

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 Corporation, a supplier of analog, standard logic, and discrete semiconductors for data and power management, has received mixed reviews on its long-term outlook based on Smartkarma Smart Scores. While the company scores high on factors like growth and momentum, with a score of 5, indicating a positive outlook for expansion and market performance, it falls short in areas like dividend and value, with scores of 1 and 3 respectively. This suggests that On Semiconductor may have strong potential for growth and market resilience, but investors may need to carefully consider the company’s value and dividend offerings when making long-term investment decisions.

Despite receiving a mixed bag of scores from Smartkarma Smart Scores, On Semiconductor Corporation remains a key player in the semiconductor industry, supplying a range of products including integrated circuits and analog ICs. With a strong focus on growth and momentum, the company is positioned to capitalize on market opportunities and drive innovation in data and power management. However, investors should take note of the company’s lower scores in areas like dividend and value, which may impact its long-term performance and attractiveness to certain investors.

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