When I last wrote about ON Semiconductor Corporation (NASDAQ: ON ), also known as Onsemi, on April 26, 2024, I called it an "interesting stock for those investors looking for value inI have been a Merchant Seaman that has traveled the world for over 30 years. Within the last 15 years, I developed a very intense interest in investing. I learned a lot of what I know about investing from The MF. Also because I have a engineering background, I often tend to gravitate to Tech stocksAnalyst’s Disclosure: I/we hav ...

Onsemi Today ON onsemi Onsemi $72.24 +0.99 (+1.39%) 52-Week Range $59.34 ▼ $86.77 P/E Ratio 16.46 Price Target $85.43 Add to Watchlist The price of Onsemi NASDAQ: ON is down 40% from its high but won't be for long because end-market normalization and mounting demand for its high-power semiconductor applications will collide in 2025. While the 2024 results are lackluster, the Q3 results align with the expectation growth will resume as soon as the first quarter of F2025 and accelerate as the year progresses. ...

I last covered ON Semi (NASDAQ: ON ) in June; since then, the stock has decreased by 0.8% in price. I assigned a Buy rating to the stock at the time, but I am not surprised nor disappointed in the price performance since then. In fact, it Oliver Rodzianko is an investment analyst specializing in the technology sector, with a focus on artificial intelligence, semiconductors, software, and renewable energy. He has earned a strong reputation on Seeking Alpha, where he is frequently featured in the platform's " ...

I'm an investment analyst with several years of clinical experience and a Master of Business Administration, now expanding my focus beyond biotech and healthcare into a range of sectors. Since 2017, I've had the privilege of sharing my insights on Seeking Alpha. My work emphasizes financial modeling techniques, such as Discounted Cash Flow (DCF) analysis, to uncover hidden assumptions within stock valuations across multiple industries. By deconstructing metrics like revenue growth rates and cash flow margin ...

I like Hassane El-Khory, CEO of ON Semiconductor Corporation (NASDAQ: ON ) aka OnSemi. He comes out authentic, a rare currency on Wall Street. In the summer of 2023, he was the first to call out Bashar is a contributing writer at Seeking Alpha, focusing on Long/Short investment ideas, with a geographic focus in North America. Before that, Bashar worked at an Investment Fund in the United Kingdom. He has a Master's degree in Finance from the Queen Mary University of London and a Bachelor's degree in Economic ...

ON Semiconductor (ON) reported third-quarter 2024 non-GAAP earnings of 99 cents per share, which outpaced the Zacks Consensus Estimate by 2.06% but declined 28.8% year over year.Revenues of $1.76 billion beat the Zacks Consensus Estimate by 0.7% but declined 19.2% on a year-over-year basis. Find the latest EPS estimates and surprises on Zacks Earnings Calendar.The stock has gained 9% year to date compared with the Zacks Computer & Technology sector’s growth of 48.3%. We believe the raised guidance will help ...

Financial Data and Key Metrics - Q3 revenue increased 2% sequentially to $1.76 billion, driven by silicon carbide growth [21] - GAAP gross margin was 45.4%, and non-GAAP gross margin was 45.5%, up 20 basis points from Q2 [24] - Free cash flow increased 41% sequentially to $294 million, representing 17% of revenue [29] - Automotive revenue was $951 million, up 5% sequentially, driven by silicon carbide and ADAS image sensors [21] - Industrial revenue was $440 million, down 6% sequentially and 29% year-over-year [22] - Intelligent Sensing Group (ISG) revenue grew 11% quarter-over-quarter to $279 million, driven by ADAS [23] Business Line Data and Key Metrics - Silicon carbide revenue increased sequentially, driven by utility-scale solar and share gains in China BEVs [8] - Industrial SiC customer count increased 17% over the last four quarters compared to the previous four quarters [12] - Intelligent sensing business grew 11% quarter-over-quarter, with strength in ADAS and industrial imaging [14] - Power Solutions Group (PSG) revenue was $829 million, down 1% quarter-over-quarter and 23% year-over-year [23] - Analog and Mixed Signal Group (AMG) revenue was $654 million, up 1% quarter-over-quarter but down 16% year-over-year [23] Market Data and Key Metrics - China and Japan are recovering, with strengths in XEVs, while North America and Europe remain soft in automotive and industrial [7] - Global solar installations are expected to reach 552 gigawatts in 2024, a 27% year-on-year increase [12] - Global energy storage system installations are expected to reach 178 gigawatts, with a year-over-year increase of 69% [12] - The company expects to exit the year with approximately 50% of China's best silicon carbide market share [11] Company Strategy and Industry Competition - The company is focused on high-growth megatrends, including automotive, industrial, and AI data centers [7] - The company is vertically integrating its silicon carbide strategy, focusing on advanced packaging solutions for system optimization [10] - The company is investing in renewable energy trends, with leading performance in high-density IGBT and hybrid SiC modules [13] - The company is expanding its intelligent sensing portfolio, with 10 new image sensors released over the last year [14] Management Commentary on Operating Environment and Future Outlook - The demand environment remains muted, with ongoing inventory digestion and slow end-demand [6] - The company expects low to mid-single-digit growth in silicon carbide revenue over 2023 [9] - The company is cautious about the near-term macro environment but remains committed to its long-term strategy [32] - The company expects Q4 revenue to be in the range of $1.71 billion to $1.81 billion, with non-GAAP gross margin between 44% and 46% [31] Other Important Information - The company has qualified its 200-millimeter M3e silicon carbide ahead of schedule, with 8-inch wafers running in the fab at 350-micron thickness [9] - The company has received trusted foundry accreditation at its East Fishkill fab, allowing expansion in the aerospace and defense business [22] - The company plans to introduce a new family of image sensors in 2025 to further broaden its offering [15] Q&A Session Summary Question: Silicon Carbide Business Growth - The company believes the current weakness in silicon carbide is cyclical, not secular, and expects long-term growth in electrification and EV adoption [36][37] Question: Gross Margin Stability - The company expects to maintain gross margins in the mid-40% range, with utilization remaining flat at 65% [39] Question: Pricing Discussions with Customers - The company will focus on pricing based on value rather than market competition, avoiding low-margin business [42] Question: Distribution Inventory Expansion - The company is expanding distribution inventory to support mass-market customers, which has grown 15% year-over-year [43][46] Question: Silicon Carbide Customer Mix - The mix between automotive and industrial silicon carbide remains around 80%-20%, with diversification in China and Europe [47][48] Question: Capital Intensity and Depreciation - The company has lowered its long-term capital intensity target to mid-single digits, with depreciation expected to remain stable in 2025 [50][54] Question: AI Data Center Opportunities - The company expects the power delivery market for AI servers to double from $2.2 billion in 2024 to $4.4 billion by 2028 [16][17] Question: China Auto Market - The company sees strength in China's EV market, with silicon carbide driving growth, and expects continued share gains in 2025 [60][73] Question: CHIPS Act Funding - The company is not pursuing CHIPS Act funding for unnecessary capacity expansion but welcomes support for strategic investments [108]

ON Semiconductor Corp. (ON) reported $1.76 billion in revenue for the quarter ended September 2024, representing a year-over-year decline of 19.2%. EPS of $0.99 for the same period compares to $1.39 a year ago. The reported revenue represents a surprise of +0.70% over the Zacks Consensus Estimate of $1.75 billion. With the consensus EPS estimate being $0.97, the EPS surprise was +2.06%. While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations ...

Key Takeaways ON Semiconductor, or Onsemi, beat third-quarter profit and revenue estimates, but sales continued to decline and the chipmaker gave weak guidance. All three of the company's units posted sales drops. The midpoint of Onsemi's current-quarter profit outlook was below forecasts. ON Semiconductor (ON) beat third-quarter profit and revenue estimates Monday, but sales continued to decline and the chipmaker gave weak guidance. The company also known as Onsemi reported third-quarter adjusted earnings ...

ON Semiconductor Corp (NASDAQ:ON) stock is up 2% to trade at $72.64 at last glance, reversing premarket losses after the company reported better-than-expected earnings and revenue for the third quarter. A disappointing outlook for the fourth quarter is keeping the equity's gains in check, however. The $66 level has acted as a floor for ON Semiconductor stock several times since April, and is coming back into play today. Meanwhile, the 200-day moving average is enacting pressure. Shares are now pacing for th ...