ON Semiconductor Corporation’s Stock Price Soars to $68.97, Marking a Positive Shift of 1.50%

ON Semiconductor Corporation (ON)

68.97 USD +1.02 (+1.50%) Volume: 10.27M

ON Semiconductor Corporation’s stock price has seen a positive shift of +1.50% in this trading session, now standing at 68.97 USD with a trading volume of 10.27M, despite a year-to-date decrease of -17.43%.

Latest developments on ON Semiconductor Corporation

Today, ON Semiconductor Corporation (ON) saw fluctuations in its stock price following key events in the semiconductor industry. With a majority of semiconductor chip sales coming from a specific market and the Semiconductor Intellectual Property (IP) Market reaching new highs, investors were closely watching the company’s performance at the KeyBanc Technology Leadership Forum. Additionally, the emergence of a new type of semiconductor nanocrystal for efficient light emitters and the competition between India and China for leadership in the global semiconductor industry added to the market’s volatility. As semiconductor stocks are poised for growth, ON Semiconductor is positioned to capitalize on these industry trends and potentially outperform competitors like Nvidia.

ON Semiconductor Corporation on Smartkarma

Analysts at Baptista Research on Smartkarma have provided bullish coverage on On Semiconductor Corporation, highlighting the company’s strong performance in Q1 2024. With reported revenue of $1.86 billion, a non-GAAP gross margin of 45.9%, and non-GAAP earnings per share exceeding expectations at $1.08, On Semiconductor showcased its ability to navigate market dynamics effectively. The analysts pointed out the company’s success in securing new design wins and expanding its market share in silicon and silicon carbide technologies. Baptista Research also aims to assess various factors influencing the company’s future stock price and conduct an independent valuation using a Discounted Cash Flow (DCF) methodology.

Furthermore, Baptista Research‘s analysis of On Semiconductor Corporation’s growth in the silicon carbide business for the fourth quarter of 2023 highlighted the company’s resilience and adaptability in challenging market conditions. Despite a decrease in utilization to 66%, On Semiconductor achieved a non-GAAP gross margin of 46.7%, surpassing previous expectations. The analysts noted significant structural adjustments made by the company over the past three years, indicating a positive trajectory for its business. Investors can access the detailed research reports by Baptista Research on Smartkarma to gain insights into On Semiconductor‘s strategic positioning and future growth prospects.

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 according to the Smartkarma Smart Scores. While the company has scored high in areas such as Growth and Momentum, indicating a positive long-term outlook, its Dividend score is lower, suggesting potential concerns for investors looking for dividend income. Overall, with a balanced Value and Resilience score, On Semiconductor seems to be positioned well for future growth and stability in the semiconductor market.

Despite a lower score in Dividend, On Semiconductor Corporation’s strong performance in Growth and Momentum on the Smartkarma Smart Scores indicates a promising future for the company. Specializing in integrated circuits and analog ICs, On Semiconductor offers a range of semiconductor products in various packages. With a solid foundation in data and power management, coupled with its positive outlook in Growth and Momentum, On Semiconductor appears to be a competitive player in the semiconductor industry with potential for continued success in the long term.

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