ON Semiconductor Corporation’s Stock Price Soars to $77.33, Marking a Stellar 6.62% Increase

ON Semiconductor Corporation (ON)

77.33 USD +4.80 (+6.62%) Volume: 7.75M

ON Semiconductor Corporation’s stock price soared to 77.33 USD, marking a significant trading session increase of 6.62% with a trading volume of 7.75M, despite a year-to-date percentage change of -7.42%, showcasing the resilience and potential of ON’s stock market performance.

Latest developments on ON Semiconductor Corporation

On Semiconductor‘s stock price is poised for movement today following key industry developments. Citi’s bullish outlook on the semiconductor sector contrasts with warnings on Micron, while Asia’s AI-chip trade growth remains robust. L&T Semiconductor is eyeing mid-term GaN fab development in India, driving innovation in the industry. onsemi’s recent selection to power Volkswagen Group’s next-generation electric vehicles highlights their strong position in the market. With Volkswagen’s EVs set to feature onsemi’s power system, the company continues to lead in driving excellence in the semiconductor industry. As the semiconductor industry looks towards Budget 2024, expectations for increased collaboration could help India emerge as a key player in the global market.

ON Semiconductor Corporation on Smartkarma

Analysts on Smartkarma, such as Baptista Research, have been closely monitoring On Semiconductor Corporation’s performance and market dynamics. In a recent report titled “ON Semiconductor Corporation: Adoption in Low-Cost Electric Vehicles and Broad Technology Offering! – Major Drivers,” Baptista Research highlighted the company’s Q1 2024 revenue of $1.86 billion, non-GAAP gross margin of 45.9%, and non-GAAP earnings per share of $1.08. The report emphasized 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 conducted an independent valuation of the company using a Discounted Cash Flow (DCF) methodology to evaluate its future prospects.

Furthermore, Baptista Research published another report on ON Semiconductor Corporation titled “ON Semiconductor Corporation: Growth in Silicon Carbide Business,” highlighting the company’s achievements in the fourth quarter of 2023. Despite challenging market conditions, ON Semiconductor managed to achieve a non-GAAP gross margin of 46.7%, exceeding expectations. The report noted significant structural adjustments made by the company over the past three years, showcasing its transformation and resilience. Analysts continue to closely monitor ON Semiconductor’s performance and market position to provide valuable insights for investors on Smartkarma.

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 bright long-term outlook, with a strong focus on growth according to Smartkarma Smart Scores. With a top score of 5 in Growth, the company is positioned well for expansion and development in the semiconductor industry. Additionally, On Semiconductor scores well in Resilience and Momentum, indicating its ability to withstand market fluctuations and maintain a steady pace of progress.

While On Semiconductor excels in Growth, its overall outlook is tempered by lower scores in Dividend and Value. With a score of 1 in Dividend, investors may not see significant returns in the form of dividends from this company. However, with a score of 3 in Value, On Semiconductor is still considered to have some value potential for investors looking for long-term growth opportunities in the semiconductor sector.

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.
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