费城 半导体指数跌超4%。英伟达公布强劲的业绩及指引后仍遇冷跌超4%，拖累半导体板块走低，应用 材料跌超6%，博通、阿斯麦跌超5%，美光科技、英特尔、台积电跌超4%，AMD、安森美半导体跌超 3%。(格隆汇) ...

费城半导体指数跌超4%。英伟达公布强劲的业绩及指引后仍遇冷跌超4%，拖累半导体板块走低，应用 材料跌超6%，博通、阿斯麦跌超5%，美光科技、英特尔、台积电跌超4%，AMD、安森美半导体跌超 3%。(格隆汇) ...

SCOTTSDALE, Ariz., Feb. 24, 2026 (GLOBE NEWSWIRE) -- onsemi (the “Company”) (Nasdaq: ON) today announced it will host its Financial Analyst Day on September 16, 2026 in New York City, NY. The event will feature presentations from onsemi’s executive leadership team to provide updates on the company strategy, strategic growth initiatives, latest innovations, and its long-term financial plan. Attendance for this event is by invitation only. Invitations and additional information will be sent out at a later dat ...

分部门业绩显示，第四季度电源解决方案部营收7.242亿美元，环比下降2%，同比下降11%；模拟与混 合信号部营收5.563亿美元，环比下降5%，同比下降9%；智能感知部营收2.496亿美元，环比增长9%， 同比下降17%。全年来看，电源解决方案部营收28.051亿美元，模拟与混合信号部营收22.619亿美元， 智能感知部营收9.284亿美元。 展望2026年第一季度，安森美预计营收介于14.35亿至15.35亿美元之间，GAAP毛利率37.4%至39.4%， 非GAAP毛利率37.5%至39.5%，GAAP摊薄每股收益0.28至0.38美元，非GAAP摊薄每股收益0.56至0.66 美元。 安森美总裁兼首席执行官Hassane El-Khoury表示，公司在第四季度保持严谨执行并达到预期，关键市场 出现越来越多的企稳迹象，并持续投资于智能电源和传感技术，这些技术使公司能够在塑造行业的最关 键技术转型中取胜。公司的战略清晰明确，即通过创新在汽车、工业和AI数据中心电源领域保持领 先，为客户提供更高价值的解决方案，为股东创造长期回报。安森美执行副总裁兼首席财务官Thad Trent指出，2025年公司产生了14亿 ...

Core Viewpoint - ON Semiconductor is positioned as an attractive investment due to recovering end markets, strong valuation, and growth in AI data center sales [1] Group 1: Company Performance - ON Semiconductor's shares have increased by 53% since being highlighted for 2026 and 31% year-to-date, indicating strong market interest [1] - The company has passed an inflection point, with sequential growth in automotive and industrial sales over the last two quarters, and industrial revenue returning to year-over-year growth [4][7] - Management's guidance for Q1 2026 projects revenue between $1.435 billion and $1.535 billion, marking the first expected year-over-year growth since the downturn began over three years ago [5] Group 2: Product Focus and Market Position - The company specializes in power and sensing chips, focusing on silicon carbide (SiC) and gallium nitride (GaN) chips, where it holds a leadership position [2] - SiC chips are ideal for electric vehicles, renewable energy, EV chargers, and industrial motors, while GaN chips are suited for AI data centers, EVs, and aerospace applications [2] Group 3: Financial Metrics and Valuation - In 2025, ON Semiconductor generated $1.4 billion in free cash flow, approximately 4.9% of its current market cap, with projections indicating at least 25% of revenue will convert to free cash flow in 2026 [8] - The stock trades at a forward price-to-free cash flow multiple of 18.1, considered low for a growth stock, indicating potential for further appreciation [8] - The company has initiated a three-year $6 billion share-repurchase program, enhancing shareholder value [8] Group 4: Market Opportunities and Risks - The company faces risks related to its exposure to Chinese EVs but has growth opportunities in AI data centers, which contributed $250 million to its $6 billion revenue in 2025 [9] - There are signs of improvement in the industrial sector and stabilization in EV spending, supporting the company's growth outlook [9]

ON Semiconductor Corporation (NASDAQ:ON) is among the 12 Best Tech Stocks that Beat Earnings Estimates. On February 12, 2026, Barclays analyst Tom O’Malley initiated coverage of ON Semiconductor Corporation (NASDAQ:ON) with an Equal Weight rating and a $75 price target. Tom O’Malley said Barclays is “cautiously optimistic” on an industrial recovery as PMIs turn higher but recommends a selective approach, noting each company “faces at least one unique challenge.” He added that On Semi’s high China and auto ...

Core Viewpoint - The article discusses the emergence and significance of the 10BASE-T1S standard in the automotive and industrial sectors, highlighting its advantages over traditional communication protocols like CAN and LIN, particularly in the context of evolving vehicle architectures and increasing sensor integration [2][3][5][33]. Group 1: Background and Industry Opportunity - 10BASE-T1S is a new physical layer standard for automotive and industrial control, established by IEEE 802.3cg in February 2020, featuring a transmission rate of 10 Mbps and designed for short-distance connections of up to 25 meters [3]. - The shift towards zonal architecture in vehicles, which consolidates multiple functions into fewer controllers, necessitates a more efficient communication protocol like 10BASE-T1S to manage the increasing number of sensors and actuators without overwhelming bandwidth [5][6]. - The trend of unifying vehicle networks under Ethernet protocols is driven by the need for over-the-air updates, centralized data processing, and software upgrades, making 10BASE-T1S a suitable choice for modern automotive applications [6][10]. Group 2: Advantages of 10BASE-T1S - 10BASE-T1S supports multi-drop connections, allowing multiple devices to connect over a single pair of wires, significantly reducing wiring complexity and costs, which is crucial for electric vehicles [6][10]. - The limitations of CAN FD in terms of scalability and protocol integration are becoming apparent, prompting manufacturers to consider 10BASE-T1S for long-term platform design [6][10]. - Compared to traditional buses like CAN, RS-485, and RS-232, 10BASE-T1S offers a more integrated and efficient solution, addressing issues of protocol fragmentation and complexity in industrial applications [11][12]. Group 3: Competitive Landscape - Major chip manufacturers are actively developing 10BASE-T1S products, with strategies ranging from simplifying Ethernet integration to completely rethinking edge node architectures [12][19][20]. - Microchip and TI focus on making Ethernet as user-friendly as CAN, integrating MAC and PHY in single packages to facilitate easier adoption in low-end microcontrollers [13][14]. - ADI's E²B technology aims to centralize control by offloading software burdens from edge nodes, enhancing communication efficiency and reducing system costs [19]. - Infineon and NXP emphasize high integration and safety for complex zonal architectures, with Infineon’s BRIGHTLANE switch and NXP’s TJA1410 designed for reliability in safety-critical applications [20][26]. Group 4: Future Outlook - The adoption of 10BASE-T1S is seen as a gradual transition rather than an outright replacement of existing protocols like CAN and LIN, driven by the need for a unified communication framework in the software-defined vehicle era [33]. - The article concludes that 10BASE-T1S is a crucial component in the evolution towards a fully integrated Ethernet architecture in vehicles, addressing the challenges of protocol fragmentation and enhancing overall system efficiency [33].

Core Viewpoint - The semiconductor industry is expected to recover in 2025, with significant revenue growth driven by rising storage prices and increasing demand from data centers, leading to improved performance for major chip manufacturers [3][4]. Group 1: Semiconductor Sales and Growth - Global semiconductor sales are projected to reach $791.7 billion in 2025, a 25.6% increase from $630.5 billion in 2024, with further growth expected towards $1 trillion in 2026 [3]. - The recovery is attributed to strong demand from emerging technologies such as AI, IoT, 6G, and autonomous driving [3]. Group 2: Chip Design and IDM - Texas Instruments (TI) is expected to achieve approximately $17.68 billion in revenue for 2025, reflecting a 13% year-over-year growth, with significant contributions from industrial and automotive sectors [6]. - STMicroelectronics (ST) anticipates a revenue decline of 11% to around $11.8 billion, with Q4 showing slight improvement driven by personal electronics [8]. - NXP's revenue is projected at $12.27 billion, down 3%, with automotive and industrial sectors remaining stable [10]. - Renesas reported a revenue drop of 2% to 1.3212 trillion yen, marking its first loss in six years due to significant impairment losses [12]. - Microchip Technology expects growth in both year-over-year and quarter-over-quarter sales, with a projected revenue of $1.186 billion for Q3 2026 [12]. - Qorvo's revenue exceeded expectations at $993 million, with an 8.4% year-over-year increase [12]. - Infineon's revenue is projected at €14.662 billion, down 2%, but with strong demand in AI driving growth [14]. Group 3: Memory Chips - Samsung's revenue is expected to reach 333.6059 trillion won (approximately $233.8 billion), a 10.9% increase, with the semiconductor division achieving 130.1 trillion won in revenue [29]. - SK Hynix anticipates a record revenue of 97.15 trillion won (approximately $681.6 billion), a 47% increase year-over-year [31]. - Micron's revenue is projected to rise from $25.11 billion to $37.38 billion, with HBM chip capacity sold out for 2026 [33]. - GigaDevice expects a revenue increase of approximately 25% to 9.203 billion yuan [35]. Group 4: Wafer Foundry - TSMC's revenue is projected to reach approximately 3.8 trillion new Taiwan dollars (around $122.42 billion), a 31.6% increase, with advanced processes contributing significantly [47]. - UMC expects a slight revenue increase of 2.3% to 237.55 billion new Taiwan dollars, with a focus on mature process technologies [49]. - SMIC anticipates a record revenue of $9.3268 billion, a 16.2% increase, with improved profitability driven by increased wafer sales [51]. Group 5: Testing and Packaging - ASE Group's revenue is expected to reach 645.388 billion new Taiwan dollars, an 8.4% increase, with advanced packaging services contributing significantly [57]. - Amkor's revenue is projected at $6.71 billion, a 6% increase, with strong performance in advanced packaging and computing business [59]. Group 6: Equipment - ASML's total net sales are expected to reach €32.667 billion, a 15.6% increase, with a record order backlog reflecting strong demand for AI-related technologies [61]. - Lam Research anticipates a record year with significant growth driven by advanced process technologies [63]. Group 7: Distribution - WPG Holdings expects a revenue of 999.12 billion new Taiwan dollars, a 13.4% increase, driven by AI and high-performance computing demand [66]. - WPG's revenue is projected to exceed 1 trillion new Taiwan dollars, marking a significant milestone [68].

Investment Rating - The report assigns a neutral investment rating for the company, indicating expectations of performance within a range of -10% to 10% relative to the benchmark index over the next six months [60]. Core Insights - The company reported Q4 2025 revenue of $1.53 billion, a year-over-year decrease of 11.16% and a quarter-over-quarter decrease of 1.34%, aligning with seasonal trends and previous guidance [2][10]. - Non-GAAP gross margin for Q4 was 38.2%, down 7.1 percentage points year-over-year but up 0.2 percentage points quarter-over-quarter, consistent with prior guidance [2][10]. - The company expects Q1 2026 revenue to be between $1.44 billion and $1.54 billion, with a gross margin forecast of 37.5% to 39.5% [3][23]. Financial Performance Overview - For the full year 2025, the company achieved revenue of $6.0 billion, reflecting a year-over-year decline of 15.35%, with a Non-GAAP gross margin of 38.4% [8]. - Q4 inventory levels decreased to 192 days, with strategic inventory at 76 days and base inventory at 117 days, indicating a healthy inventory status [13][14]. Business Segment Performance - Power Solutions Group (PSG) reported Q4 revenue of $724 million, down 11% year-over-year and 2% quarter-over-quarter [2]. - Analog and Mixed Signal Group (AMG) generated Q4 revenue of $556 million, down 9% year-over-year and 5% quarter-over-quarter [2]. - Intelligent Sensing Group (ISG) saw Q4 revenue of $250 million, a 17% year-over-year decline but a 9% quarter-over-quarter increase [2]. Strategic and Operational Developments - The company is advancing its Fab-Liter strategy, with wafer fab capacity reduced by 12% in 2025 and a utilization rate of 68% in Q4 [12][3]. - The Treo platform has doubled its sampling numbers year-over-year, with design channels exceeding $1 billion across various applications [3]. - The company plans to launch over 30 new GaN devices in 2026, enhancing its wide bandgap strategy [4][12]. AI Data Center Growth - AI data centers have become a core growth engine, contributing over $250 million in revenue for the year and expected to continue growing significantly [4][17]. - The company has achieved a 99.5% efficiency in SiC MOSFET hybrid modules, securing design wins in key platforms [4][21].

Core Viewpoint - ON Semiconductor Corporation is experiencing a recovery in its performance metrics since the low point in FQ1'25, leading to a reiteration of a Buy rating due to strong growth prospects [1] Group 1: Company Performance - The company has shown ongoing recovery in its performance metrics since the trough in FQ1'25 [1] - Robust growth prospects are anticipated for ON Semiconductor, contributing to positive investor sentiment [1] Group 2: Analyst Insights - The analysis aims to provide unique insights and knowledge to investors, contrasting with other portfolios [1]