ON Semiconductor Corporation’s Stock Price Suffers a 4.32% Dip, Trading at $73.37: A Deep Dive into Performance Trends

ON Semiconductor Corporation (ON)

73.37 USD -3.31 (-4.32%) Volume: 7.23M

ON Semiconductor Corporation’s stock price stands at 73.37 USD, experiencing a drop of 4.32% this trading session with a trading volume of 7.23M, and marking a year-to-date (YTD) percentage change of -12.16%, reflecting the volatile nature of ON’s stock performance.

Latest developments on ON Semiconductor Corporation

ON Semiconductor has been making strategic moves in the semiconductor industry, with recent developments indicating a shift towards diversifying its supply chain and making new manufacturing investments. The company’s decision to buy a Mesa building and invest $50 million signals a commitment to expanding its operations. Additionally, partnerships and collaborations with entities like TSMC and the government of Hokkaido are further boosting the company’s prospects. As the semiconductor market continues to grow, ON Semiconductor is poised to capitalize on these opportunities, leading to a trending stock status. With a consensus ‘buy’ rating and a potential upside of 14.0%, investors are keeping a close eye on the company’s movements in the ever-evolving semiconductor landscape.

ON Semiconductor Corporation on Smartkarma

Analysts at Baptista Research have been closely following On Semiconductor and recently published two research reports on Smartkarma. The first report, titled “ON Semiconductor Corporation: Can The Silicon Carbide Business Expansion Offset These Challenges? – Major Drivers,” discussed Onsemi’s mixed financial performance in the second quarter of 2024, highlighting challenges in an inventory-heavy environment. Despite posting revenue of $1.74 billion, which aligned with guidance, the company experienced a decline from the previous year. The non-GAAP gross margin also slightly decreased to 45.3%, attributed partially to underutilization due to softened demand.

In their second report, “ON Semiconductor Corporation: Adoption in Low-Cost Electric Vehicles and Broad Technology Offering! – Major Drivers,” Baptista Research analyzed On Semiconductor‘s performance in Q1 2024. The company reported revenue of $1.86 billion, a non-GAAP gross margin of 45.9%, and non-GAAP earnings per share of $1.08, surpassing the midpoint of the guidance. The report highlighted the company’s success in navigating market dynamics, with a 30% increase in new design wins and growth in silicon and silicon carbide market share. Baptista Research also discussed the factors influencing the company’s price and conducted an independent valuation using a Discounted Cash Flow methodology.

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’s long-term outlook appears promising based on the Smartkarma Smart Scores. With high scores in Growth and Momentum, the company is positioned for future success in the semiconductor industry. Its focus on data and power management through analog, standard logic, and discrete semiconductors demonstrates a commitment to innovation and staying ahead of market trends.

While On Semiconductor scores lower in Dividend, it makes up for it with strong scores in Value and Resilience. This indicates that the company may not offer significant dividends to investors, but its overall financial health and ability to withstand market fluctuations are solid. Investors looking for a growth-oriented semiconductor stock may find On Semiconductor to be a promising long-term investment.

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