ON Semiconductor Corporation’s stock price triumphs at $67.74 with a notable 1.96% increase

ON Semiconductor Corporation (ON)

67.74 USD +1.30 (+1.96%) Volume: 7.77M

ON Semiconductor Corporation’s stock price sees a positive shift, trading at 67.74 USD with an increase of +1.96% this session and a trading volume of 7.77M. Despite the recent uptrend, the stock observes a year-to-date decrease of -16.75%, reflecting its volatile market performance.

Latest developments on ON Semiconductor Corporation

ON Semiconductor’s stock price saw a rise today following the announcement of a partnership with Denso to boost self-driving technology. This collaboration comes after RPI and GlobalFoundries joined forces on semiconductor workforce development, highlighting the industry’s focus on innovation and education. The company’s strategic moves, including the acquisition plans by Denso and strengthening cooperation with them, have positively impacted investor sentiment. With advancements like the acquisition of SiC JFET technology, ON Semiconductor is poised to transform the power solutions market. As the semiconductor sector continues to evolve, ON Semiconductor remains at the forefront, driving growth and solidifying its position in the industry.

ON Semiconductor Corporation on Smartkarma

Analysts at Baptista Research have been closely monitoring On Semiconductor Corporation’s recent financial performance. In the third quarter of 2024, the company demonstrated operational resilience by meeting or exceeding its guidance midpoint for revenue, gross margin, and earnings per share. Despite challenges in the macroeconomic environment, strategic developments have positioned the company for long-term growth. Baptista Research is evaluating various factors that could impact the company’s stock price and conducting an independent valuation using a Discounted Cash Flow (DCF) methodology.

Another report by Baptista Research focuses on On Semiconductor‘s second quarter of 2024, which saw a mixed financial performance. The company faced challenges in an inventory-heavy environment but also made significant strategic advancements. Despite posting revenue of $1.74 billion in line with guidance, there was a decline from the previous year. Non-GAAP gross margin stood at 45.3%, slightly down due to underutilization from softened demand. The report analyzes whether the expansion of the Silicon Carbide business can offset these challenges and drive future growth for On Semiconductor Corporation.

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 promising long-term outlook, with high scores in Growth and Momentum according to Smartkarma Smart Scores. The company is positioned well for future expansion and development, indicating a positive trajectory in terms of market performance and potential profitability. While the Dividend score is lower, the strong scores in Growth and Momentum suggest that On Semiconductor is focused on driving innovation and capturing market opportunities.

Despite some mixed scores, On Semiconductor shows resilience in the face of challenges, with a score of 3 in that category. This indicates that the company is able to withstand market fluctuations and economic uncertainties, providing a sense of stability for investors. Overall, On Semiconductor‘s strong performance in Growth and Momentum, coupled with its resilience, position it well for long-term success in the semiconductor industry.

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