Onsemi (ON) to cut 900 jobs as slowing EV demand hints at sluggish 4Q
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Truist cuts estimates on ON Semiconductor (ON) following weak 4Q guidance
October 31, 2023 8:29 AM EDTTruist Securities reiterated a Buy rating on ON Semiconductor Corp (NASDAQ: ON) but cut their 12-month price target on the chip maker to $81.00 (From $122.00) following 3Q results and guidance.
In the 3Q, ON reported sales of $2,180 million, surpassing the consensus of $2,148 million by 1.5%. While the GPM stood at 47.3%, exceeding the consensus by 40 bps, the OPM of 32.6% fell short of the consensus by 20 bps. Additionally, EPS... More
ON Semiconductor (ON) PT Lowered to $92 at Needham & Company
October 30, 2023 4:15 PM EDTNeedham & Company analyst Rajvindra Gill lowered the price target on ON Semiconductor (NASDAQ: ON) to $92.00 (from $120.00) while maintaining a Buy rating.
The analyst commented, "Onsemi reported a strong quarter but guided down ~8% Q/Q as a key SiC customer pushes out ~$200MM of... More
Craig-Hallum Downgrades ON Semiconductor (ON) to Hold
October 30, 2023 2:14 PM EDTCraig-Hallum analyst Anthony J. Stoss downgraded ON Semiconductor (NASDAQ: ON) from Buy to Hold.
For an analyst ratings summary and ratings history on ON Semiconductor click here. For more ratings news on ON Semiconductor click here.
Shares of ON Semiconductor closed at $83.52 yesterday.
... MoreSummit Insights Downgrades ON Semiconductor (ON) to Hold, 'concerned with the higher risk of gross margin pressure'
October 30, 2023 12:18 PM EDT(Updated - October 30, 2023 1:09 PM EDT)
Summit Insights analyst Kinngai Chan downgraded ON Semiconductor (NASDAQ: ON) from Buy to Hold.
The analyst comments "While we continue to believe ON's product positioning in the automotive market is somewhat unique, it is not immune... More
onsemi (ON) falls 7% on weak guidance
October 30, 2023 9:01 AM EDTOn Semiconductor (NASDAQ: ON) shares fell more than 7% after the chipmaker offered a weaker-than-expected outlook for this quarter.
The company's forecast for adjusted earnings per share is $1.13 to $1.27 fell short of the average analyst estimate of $1.36. Moreover, ON Semiconductor's projected adjusted gross... More
onsemi (ON) Tops Q3 EPS by 5c ; Offers Guidance
October 30, 2023 8:03 AM EDTonsemi (NASDAQ: ON) reported Q3 EPS of $1.39, $0.05 better than the analyst estimate of $1.34. Revenue for the quarter came in at $2.18 billion versus the consensus estimate of $2.15 billion.
GUIDANCE:
onsemi sees Q4 2023 EPS of $1.13-$1.27, versus the consensus of $1.37. onsemi sees Q4... More
onsemi (ON) November weekly option implied volatility elevated into quarter results
October 27, 2023 10:27 AM EDTonsemi (NASDAQ: ON) November weekly call option implied volatility is at 80, November is at 60; compared to its 52-week range of 33 to 63 into the expected release of quarter results before the bell on October 30.
... Moreonsemi (ON) November weekly 83 straddle into quarter results
October 27, 2023 5:05 AM EDTonsemi (NASDAQ: ON) November weekly 83 straddle is priced for a move of 9% into the expected release of quarter results before the bell on October 30.
... More