ON Semiconductor Corporation’s Stock Price Soars to $72.79, Marking a Robust 3.50% Uptick

ON Semiconductor Corporation (ON)

72.79 USD +2.46 (+3.50%) Volume: 4.93M

ON Semiconductor Corporation’s stock price soared to $72.79, marking a +3.50% surge in today’s trading session with a volume of 4.93M, despite its YTD performance showcasing a -12.86% dip. Discover the factors influencing ON’s stock performance and investment potential.

Latest developments on ON Semiconductor Corporation

Today, On Semiconductor‘s stock price is influenced by various key events in the semiconductor market. Research by S&S Insider projects a significant growth in the market size, particularly with the adoption of 3nm process technology, expected to reach USD 26.5 billion by 2032 at a CAGR of 38.68%. SurplusGLOBAL’s focus on accelerating innovation in semiconductor equipment and parts ecosystem with AI, appointing Dr. Benjamin Jeong as Chief AI Officer, also contributes to market dynamics. Additionally, discussions on reducing the environmental impact of semiconductor production and the growth of the compound semiconductor market further shape the industry landscape, impacting On Semiconductor‘s stock performance.

ON Semiconductor Corporation on Smartkarma

Analysts at Baptista Research have published insightful reports on On Semiconductor Corporation on Smartkarma, a platform for independent investment research. In one report titled “ON Semiconductor Corporation: Can The Silicon Carbide Business Expansion Offset These Challenges? – Major Drivers,” the analysts discuss the company’s mixed financial performance in the second quarter of 2024, highlighting challenges in an inventory-heavy environment. Despite posting revenue of $1.74 billion, in line with guidance but lower than the previous year, the company faced strategic advancements and a non-GAAP gross margin of 45.3%. Read more

Another report by Baptista Research, “ON Semiconductor Corporation: Adoption in Low-Cost Electric Vehicles and Broad Technology Offering! – Major Drivers,” delves into the company’s performance in Q1 2024. With revenue reaching $1.86 billion, a non-GAAP gross margin of 45.9%, and non-GAAP earnings per share of $1.08, the company exceeded guidance expectations. The analysts highlight ON Semiconductor’s success in navigating market dynamics, driven by new design wins and growth in silicon and silicon carbide market share. Baptista Research aims to evaluate factors influencing the company’s future price and conduct an independent valuation using a Discounted Cash Flow methodology. Read more

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 based on its Smartkarma Smart Scores. With a high score in Growth and Momentum, the company is expected to see strong expansion and positive market performance in the future. Additionally, its Resilience score indicates that On Semiconductor is well-equipped to handle potential challenges and maintain stability in the industry. Although its Dividend score is lower, the overall outlook for the company remains positive.

ON Semiconductor Corporation, a supplier of analog, standard logic, and discrete semiconductors, is positioned well for future success. The company’s focus on data and power management, along with its range of integrated circuits and analog ICs, sets it apart in the industry. Despite a lower score in Dividend, On Semiconductor‘s strengths in Growth and Momentum bode well for its continued growth and success in the market.

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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