Baird Downgrades ON Semi (ONNN) to Neutral

Baird downgraded ON Semi (NASDAQ: ONNN) from Outperform to Neutral.

Analyst Tristan Gerra comments, "Incremental to our recently published research where we highlighted our expectation for a 4Q slowdown in notebooks, servers, and TD-LTE smartphones, we now see an inflexion point where MOSFET and MCU lead times are starting to pull in, uncharacteristic of a semiconductor upcycle notably as we enter the seasonally strong second half."

For an analyst ratings summary and ratings history on ON Semi click here. For more ratings news on ON Semi click here.

Shares of ON Semi closed at $9.82 yesterday.

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