ON Semiconductor Corporation’s Stock Price Stands at $67.02 Despite a Slight Dip of 1.30%

ON Semiconductor Corporation (ON)

67.02 USD -0.88 (-1.30%) Volume: 3.65M

ON Semiconductor Corporation’s stock price stands at 67.02 USD, experiencing a slight dip of -1.30% this trading session with a trading volume of 3.65M shares, reflecting a significant year-to-date percentage change of -19.29%, marking a challenging year for ON’s market performance.

Latest developments on ON Semiconductor Corporation

ON Semiconductor has experienced a tumultuous year with a 20% plunge in stock prices, prompting investors to debate whether to buy the dip or wait for further developments. Amidst this, global semiconductor markets are witnessing significant shifts, with a focus on harnessing India’s chemical expertise for semiconductor ecosystem development and the establishment of the Indian Semiconductor Academy by SEMI. In the midst of these developments, ON Semiconductor Corp. has been exceeding market returns and outpacing stock market gains, hinting at a potential turnaround. As the semiconductor industry in India marks a landmark year in 2024 and looks ahead to 2025, the quest for self-reliance in semiconductors gains momentum. With key players like Nvidia facing challenges from AI semiconductor rivals like Broadcom, the semiconductor landscape remains dynamic and ripe for further disruptions.

ON Semiconductor Corporation on Smartkarma

Analysts at Baptista Research have provided bullish coverage on On Semiconductor Corporation, highlighting the company’s strategic developments and operational resilience in their recent earnings report for the third quarter of 2024. Despite challenges in the macroeconomic environment, On Semiconductor met or exceeded its guidance midpoint for revenue, gross margin, and earnings per share. Baptista Research aims to evaluate various factors influencing the company’s stock price in the near future and conduct an independent valuation using a Discounted Cash Flow (DCF) methodology.

In a separate report, Baptista Research explores On Semiconductor Corporation’s performance in the second quarter of 2024, noting a mixed financial performance. The company faced challenges in an inventory-heavy environment but also made significant strategic advancements during this period. Despite posting revenue of $1.74 billion in line with guidance, there was a decline from the previous year. The non-GAAP gross margin slightly decreased to 45.3%, attributed in part to underutilization caused by softened demand. The analysts question whether the expansion of the Silicon Carbide business can offset these challenges in the future.

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 a mixed outlook based on the Smartkarma Smart Scores. While the company scores high in Growth, indicating a positive long-term outlook for expansion and development, it falls short in the Dividend category. This suggests that investors may not see significant returns in the form of dividends from On Semiconductor.

Additionally, On Semiconductor scores moderately in Value, Resilience, and Momentum. This indicates that the company is fairly valued, has a decent level of resilience in challenging market conditions, and is showing steady momentum in its performance. Overall, despite some areas of weakness, On Semiconductor‘s strong Growth score suggests promising prospects for the company’s future growth and development in the semiconductor industry.

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