ON Semiconductor Corporation’s stock price soars to $72.92, marking a robust 5.41% increase

ON Semiconductor Corporation (ON)

72.92 USD +3.74 (+5.41%) Volume: 5.79M

ON Semiconductor Corporation’s stock price soars to $72.92, marking a significant session increase of +5.41% with a trading volume of 5.79M. Despite a year-to-date decline of -12.70%, ON’s stock performance continues to attract investor interest.

Latest developments on ON Semiconductor Corporation

On Semiconductor‘s (NASDAQ:ON) investors have seen a remarkable 255% return over the past five years, indicating strong market performance. Recent developments include the Buffalo-Rochester-Syracuse corridor securing $40 million for semiconductor superhighway development, showcasing a commitment to industry growth. Additionally, onsemi has enhanced its intelligent sensing portfolio with the acquisition of SWIR Vision Systems, further solidifying its market position. With news of palladium soaring by 4% on semiconductor updates, investors are closely monitoring ON Semiconductor Corp (ON) for potential market outperformance and growth opportunities. The company’s strategic moves and industry advancements continue to attract attention, positioning it as a key player in the semiconductor market.

ON Semiconductor Corporation on Smartkarma

Analysts at Baptista Research on Smartkarma have provided bullish coverage on On Semiconductor Corporation. In their report titled “ON Semiconductor Corporation: Adoption in Low-Cost Electric Vehicles and Broad Technology Offering! – Major Drivers”, they highlight the company’s strong performance in Q1 2024, with revenue of $1.86 billion and a non-GAAP gross margin of 45.9%. The report emphasizes ON Semiconductor’s growth in new design wins and market share in silicon and silicon carbide, attributing it to the company’s innovative power and sensing technologies. Baptista Research also aims to assess various factors influencing the company’s stock price in the near future and plans to conduct an independent valuation using a Discounted Cash Flow (DCF) methodology.

In another report by Baptista Research, analysts continue to express optimism about On Semiconductor Corporation’s prospects. In their analysis titled “ON Semiconductor Corporation: Growth in Silicon Carbide Business”, they commend the company’s performance in the fourth quarter of 2023, noting its ability to navigate challenging market conditions. Despite a decrease in utilization to 66%, ON Semiconductor achieved a non-GAAP gross margin of 46.7%, exceeding previous expectations. The report highlights the company’s structural adjustments over the past three years as contributing factors to its impressive results. Baptista Research‘s bullish sentiment reflects confidence in ON Semiconductor’s growth trajectory and strategic initiatives.

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 positive long-term outlook according to Smartkarma Smart Scores. With a high score in Growth, the company is expected to see significant expansion in the future. This indicates promising prospects for the company’s development and market performance over time. Additionally, On Semiconductor also received decent scores in Resilience and Momentum, suggesting that it is well-positioned to withstand market fluctuations and maintain a steady pace of growth.

While On Semiconductor scored lower in Dividend, its strong performance in other areas such as Value highlights its overall potential for investors. The company’s focus on supplying analog, standard logic, and discrete semiconductors for data and power management positions it well in the industry. Overall, On Semiconductor‘s Smartkarma Smart Scores paint a picture of a company with solid growth potential and resilience in the market.

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