The latest trading session saw ON Semiconductor Corp. (ON) ending at $76.37, denoting a -0.65% adjustment from its last day's close. This move lagged the S&P 500's daily gain of 0.28%. Elsewhere, the Dow gained 0.53%, while the tech-heavy Nasdaq added 0.4%.Shares of the semiconductor components maker have appreciated by 6.81% over the course of the past month, outperforming the Computer and Technology sector's gain of 4.22% and the S&P 500's gain of 3.78%.Investors will be eagerly watching for the performan ...

Now might be a great time to bite the bullet and buy this semiconductor stock on a dip.Nvidia is a great company and a great stock, but it currently trades on slightly more than 50 times Wall Street's 2024 earnings estimates. That's fine for many investors willing to pay a premium for a high-quality growth stock, but for investors who are willing to take some near-term risk on board, ON Semiconductor (ON 3.54%) might be a better option. Here's why.Cyclicality matters for semiconductor stocksSemiconductors a ...

The electric vehicle (EV) market has slowed in 2024 but is poised for explosive growth over the next decade. As the global economy shifts to greener and more sustainable energy solutions, finding the best EV stocks to buy will be a strategic move.One of the significant factors influencing the EV market is the interest rate environment. Lower interest rates can significantly impact the growth of the EV sector. They reduce the cost of borrowing for companies, making it much easier to invest in innovation.Addi ...

Core Viewpoint - ON Semiconductor is significantly investing in silicon carbide (SiC) manufacturing in Europe to meet the growing global demand for energy-efficient power semiconductors, particularly in sectors like electric vehicles, renewable energy, and AI data centers [1][2]. Group 1: Investment and Expansion - The company plans to invest up to $2 billion (44 billion CZK) in a vertically-integrated SiC manufacturing facility in the Czech Republic [1]. - This multi-year investment highlights ON's commitment to enhancing its capabilities in SiC manufacturing and contributing to the semiconductor value chain in Europe [1]. Group 2: Market Demand and Performance - ON Semiconductor's SiC solutions are increasingly popular in automotive and industrial applications, driving significant growth [2]. - In Q1 2024, over 50% of the substrates for ON's silicon carbide business came from internal production, indicating strong operational performance [2]. Group 3: Strategic Partnerships - ON Semiconductor has extended its silicon carbide partnership with BorgWarner, integrating EliteSiC technology for improved efficiency in EV traction inverters [3]. - Volkswagen is utilizing ON's EliteSiC technology in its electric vehicles, specifically in the 1200 V silicon carbide power module for traction inverters [3]. - A long-term supply agreement with Magna International aims to incorporate ON's EliteSiC solutions into Magna's eDrive systems, enhancing electric vehicle performance [3]. Group 4: Financial Outlook - Despite a broadening portfolio and strong partnerships, ON Semiconductor faces macroeconomic uncertainties, with its stock declining 17.3% year to date compared to the Zacks Computer & Technology sector's growth of 25.7% [4]. - The company expects Q2 2024 revenues to be between $1.68 billion and $1.78 billion, with a consensus estimate of $1.73 billion, reflecting a year-over-year decline of 17.32% [4]. - Non-GAAP earnings are projected to be between 86 cents and 98 cents per share, with a consensus estimate of 93 cents, indicating a year-over-year fall of 30.8% [4].

The recommendations of Wall Street analysts are often relied on by investors when deciding whether to buy, sell, or hold a stock. Media reports about these brokerage-firm-employed (or sell-side) analysts changing their ratings often affect a stock's price. Do they really matter, though?Before we discuss the reliability of brokerage recommendations and how to use them to your advantage, let's see what these Wall Street heavyweights think about ON Semiconductor Corp. (ON) .ON Semiconductor Corp. currently has ...

SAN DIEGO, June 17, 2024 (GLOBE NEWSWIRE) -- The Shareholders Foundation, Inc. announces that a lawsuit was filed for certain investors in ON Semiconductor Corporation (NASDAQ: ON) shares. The lawsuit seeks to recover losses for certain NASDAQ: ON shares. Investors, who purchased ON Semiconductor Corporation (NASDAQ: ON) shares and continue to hold any of those NASDAQ: ON shares, have also certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - ...

Onsemi (NASDAQ:ON) layoffs are a hot topic on Friday as the semiconductor company has announced plans to cut 1,000 jobs.A statement from Onsemi notes that these cuts will be global as it looks to reduce costs and streamline operations. This also has it closing down several sites, including its South Portland location, while asking around 300 employees to relocate.The reason for these changes is the slowing demand for electric vehicles (EVs). The company’s chips are used in EV drive trains to assist drivers. ...

Loading...Loading...Needham analyst Quinn Bolton reiterated ON Semiconductor Corp ON with a Buy rating and a $92 price target.The analyst hosted a virtual NDR with Thad Trent, CFO, and Parag Agarwal, VP of IR and Corporate Development, and came incrementally bullish towards ON shares ahead of the anticipated cyclical recovery.Bolton said cancellations and pushouts peaked late last year and have returned to normal.The company has seen stabilization in its traditional industrial business, which was first to f ...

In the latest trading session, ON Semiconductor Corp. (ON) closed at $72.31, marking a -0.19% move from the previous day. The stock's change was less than the S&P 500's daily loss of 0.11%. Elsewhere, the Dow lost 0.22%, while the tech-heavy Nasdaq lost 0.23%.Heading into today, shares of the semiconductor components maker had gained 1.67% over the past month, lagging the Computer and Technology sector's gain of 6.52% and the S&P 500's gain of 3.51% in that time.Market participants will be closely following ...

Company and Industry Overview * **Company**: ON Semiconductor Corporation (NASDAQ: ON) * **Industry**: Semiconductor * **Event**: BofA Securities 2024 Global Technology Conference * **Date**: June 5, 2024 Key Points Transformation and Growth Strategy * **Transition from Cyclical to Cyclical Growth**: ON Semiconductor has transitioned from a deep cyclical company to a more cyclical growth model with multiple product cycles. * **Fab-Like Strategy**: ON has implemented a fab-like strategy, divesting four fabs to reduce fixed costs and focus on high-growth areas. * **Product Portfolio Changes**: ON has walked away from $475 million of high-volatility business and redirected the company into high-growth areas like silicon carbide in EV. Financial Performance and Margin Expansion * **Improved Utilization and Margin**: ON's manufacturing footprint utilization is currently at 65%, with a margin floor of 45%. This is significantly better than previous cycles, where gross margins were in the low 30s. * **Long-Term Margin Target**: ON's long-term margin target is 53%, with significant potential for expansion as utilization increases and new products are introduced. * **East Fishkill Fab**: The East Fishkill fab acquisition has improved cost structures and cycle times, with a goal of achieving parity with other fabs. Industrial Segment * **Traditional vs. Secular Growth**: ON's industrial segment is divided into traditional (power tools, white goods) and secular growth (renewable energy, energy storage, factory automation). * **Stabilization**: The traditional industrial segment has stabilized, with some green shoots in medical and alternative energy. * **Conservative Outlook**: ON is conservative in calling for a bottom in the industrial market, emphasizing the need for demand pickup and end-demand recovery. Automotive Segment * **Flattish Growth**: ON expects the automotive business to be flattish in 2024, with growth in silicon carbide offsetting declines in other areas. * **Silicon Carbide Growth**: ON expects the silicon carbide market to grow 2x in 2024, driven by design wins and market share gains. * **Competition and Overcapacity**: ON is not concerned about overcapacity in the silicon carbide market, emphasizing the value-driven nature of the product and its technology advantage. AI and Data Center * **Power Tree for Cloud**: ON is developing a power tree for the cloud, leveraging its expertise from automotive and industrial segments. * **Cross-Selling Opportunities**: ON plans to cross-sell power switches, controllers, and drivers to customers in the cloud market. Second Half Recovery * **Balanced Approach**: ON is taking a balanced approach to the second half, preparing for both a recovery and a continuation of the current environment. * **Inventory and Utilization**: ON has a low inventory level and utilization of 65%, positioning the company to quickly react to any recovery. Conclusion ON Semiconductor is focused on transforming itself into a more sustainable and predictable company with a strong focus on high-growth areas like silicon carbide in EV and the cloud. The company is taking a conservative approach to the near-term outlook, emphasizing the need for demand pickup and end-demand recovery in the industrial and automotive markets.