onsemi (ON) Tops Q4 EPS by 5c
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February 5, 2024 4:41 PM EST
JPMorgan analyst Harlan Sur lowered the price target on ON Semiconductor (NASDAQ: ON) to $90.00 (from $95.00) while maintaining a Neutral rating.
The analyst comments "ON Semi reported 4Q results slightly better than consensus, with end market performance largely in line with expectations. For the 1Q outlook, the team guided revenues down 8% Q/Q, below consensus but better than market expectations given the double-digit % Q/Q decline seen from its diversified peers (e.g. TXN down 12% Q/Q and MCHP down 25% Q/Q). ONs quarterly peak-to-trough revenue decline is ~15-20% (vs peers... More
February 5, 2024 8:20 AM EST
Shares of Onsemi (NASDAQ: ON) climbed 5.1% in the market pre-open Monday after the semiconductor manufacturer posted better-than-expected fourth-quarter earnings and revenue
Specifically, the chipmaker posted Q4 earnings per share (EPS) of $1.25, beating the consensus projection of $1.20. Revenue came in at $2.02 billion, while analysts were... More
