onsemi (ON) May weekly 66 straddle into quarter results
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April 30, 2024 5:10 AM EDT
JPMorgan analyst Harlan Sur lowered the price target on ON Semiconductor (NASDAQ: ON) to $85.00 (from $90.00) while maintaining a Neutral rating.
The analyst comments "ON Semi reported 1Q results (revenues, margins, EPS) better than consensus on better industrial (stability in traditional industrial segments). For the 2Q outlook, the team guided revenues down 7% Q/Q, below consensus on broad-based end market weakness and soft China orders post CNY but in line with the guidance of its power semiconductor peer, STMicroelectronics. After the negative revenue reset, we believe Jun-Qtr represents the cycle bottom for... More
April 30, 2024 5:03 AM EDT
Goldman Sachs analyst Toshiya Hari raised the price target on ON Semiconductor (NASDAQ: ON) to $89.00 (from $81.00) while maintaining a Buy rating.
The analyst comments "onsemi reported modest upside to Street 1Q24 EPS expectations ($1.08 vs. $1.04) and provided what we believe was a better-than-feared 2Q24 non-GAAP... More
April 29, 2024 8:10 AM EDT
onsemi (NASDAQ: ON), a leading semiconductor company, reported its first quarter 2024 earnings, surpassing analyst expectations with an adjusted EPS of $1.08, which is $0.04 higher than the consensus of $1.04. The company's revenue also exceeded forecasts, coming in at $1.86 billion against the anticipated $1.85 billion.
Despite a challenging market, onsemi's structural business changes over the past three years have allowed the company to maintain a... More
