ON Semiconductor Corp (ON) shares experienced volatility in early trading on Tuesday, despite the company exceeding expectations with its third-quarter revenue report. While ON Semiconductor remains optimistic about long-term growth, analysts remain cautious due to ongoing demand weakness and inventory digestion across various industries. Read on for detailed analysis of key analysts’ perspectives on ON Semiconductor’s future.
ON Semiconductor Corp (ON) exceeded analysts’ expectations for the third quarter, reporting a revenue decline of 19.2% year-on-year to $1.76 billion. The company’s adjusted EPS also surpassed estimates. Despite the decline in revenue, ON Semiconductor remains optimistic about its future prospects, driven by rising power demands and the need for greater efficiency in key markets. Analysts have adjusted their price targets for ON Semiconductor following the earnings announcement, with some maintaining a Buy rating while others remain cautious.
ON Semiconductor (ON) is set to release its third-quarter earnings on Monday, October 28th. Analysts anticipate a decline in earnings and revenue compared to the previous year. However, the company delivered better-than-expected results in the second quarter. This article dives into the key figures, analyst ratings, and what investors should watch for during the upcoming earnings call.
