ON Semiconductor Corporation’s Stock Price Takes a Dip at $53.51, Witnessing a 3.11% Decrease

ON Semiconductor Corporation (ON)

53.51 USD -1.72 (-3.11%) Volume: 8.61M

ON Semiconductor Corporation’s stock price stands at 53.51 USD, experiencing a drop of -3.11% in today’s trading session with a volume of 8.61M shares traded, reflecting a year-to-date decline of -14.66% in the stock’s performance.

Latest developments on ON Semiconductor Corporation

ON Semiconductor has been experiencing fluctuations in its stock price recently, influenced by various key events in the semiconductor industry. The company secured $300 million in federal funding for a new dry pump factory in Genesee County, while Japan and the Netherlands announced expansions in semiconductor research and export controls. Additionally, Vermont and ASU received significant funding for semiconductor innovation and research. The US government also pledged $1.4 billion to support next-generation semiconductor technology. These developments, along with ON Semiconductor’s own initiatives, have attracted investor attention and impacted the stock’s performance, making it a long-term opportunity worth monitoring.

ON Semiconductor Corporation on Smartkarma

Analysts at Baptista Research have been closely monitoring On Semiconductor Corporation’s recent financial performance. In their report titled “ON Semiconductor Corporation: Mass Market Strategy & Inventory Management Driving Our Optimism! – Major Drivers,” they highlight the company’s ability to meet or exceed its guidance midpoint for revenue, gross margin, and earnings per share in the third quarter of 2024. Despite challenges in the macroeconomic environment, On Semiconductor‘s strategic developments position the company for long-term growth. Baptista Research is evaluating various factors that could impact the company’s stock price in the near future, using a Discounted Cash Flow methodology for independent valuation.

Furthermore, in another report by Baptista Research titled “ON Semiconductor Corporation: Can The Silicon Carbide Business Expansion Offset These Challenges? – Major Drivers,” analysts examine Onsemi’s second quarter of 2024 financial performance. The report notes a mixed performance with revenue of $1.74 billion, aligning with guidance but representing a decline from the previous year. The non-GAAP gross margin slightly decreased to 45.3%, attributed in part to underutilization due to softened demand. Despite challenges in an inventory-heavy environment, On Semiconductor‘s significant strategic advancements, including the expansion into silicon carbide business, are seen as potential offsets to these challenges.

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 varying scores across different factors. While the company has scored high in Growth, indicating a positive long-term outlook for expanding its business and increasing revenue, it has scored lower in Dividend and Momentum. This suggests that investors may not expect significant dividends or immediate positive market performance from On Semiconductor.

Despite the mixed scores, On Semiconductor has received a high score in Value, indicating that the company is perceived as having strong intrinsic value relative to its current stock price. Additionally, the company has scored moderately in Resilience, suggesting that it may be able to withstand market fluctuations and economic challenges. Overall, On Semiconductor‘s future prospects seem promising in terms of growth potential and value, although investors may need to consider the company’s dividend and market momentum carefully.

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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