Onsemi beats quarterly estimates, reports stable margins
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ON Semiconductor (ON) PT Lowered to $85 at JPMorgan
April 30, 2024 5:10 AM EDTJPMorgan 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
ON Semiconductor (ON) PT Raised to $89 at Goldman Sachs
April 30, 2024 5:03 AM EDTGoldman 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
