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ON Semiconductor (NASDAQ:ON) Corp. shares have touched a 52-week low, trading at $53.07, marking a significant downturn for the company within the past year. With a market capitalization of $22.9 billion and a P/E ratio of 13.15, InvestingPro analysis suggests the stock is currently undervalued, with analyst price targets ranging from $55 to $107. This latest price level reflects a notable decline from previous periods, as the stock has experienced a 1-year change with a decrease of 27.25%. Investors are closely monitoring the semiconductor industry, which has faced various challenges, including supply chain disruptions and fluctuating demand. ON Semiconductor’s revenue declined 11.52% in the last twelve months, though management has been actively buying back shares. InvestingPro subscribers can access 15 additional key insights and a comprehensive Pro Research Report for deeper analysis of ON’s market position and future prospects.
In other recent news, ON Semiconductor has been the subject of significant attention from analysts and investors alike. The company’s earnings and revenue figures have been a key focus, with third-quarter revenue rising to $1.76 billion, marking a 2% sequential growth. Looking ahead, the company anticipates fourth-quarter revenue to fall between $1.71 billion and $1.81 billion.
Evercore ISI maintained an Outperform rating on ON Semiconductor, highlighting the company’s strong financial health and potential for significant revenue generation from its Treo platform. Similarly, Wells Fargo (NYSE:WFC) initiated coverage on the company with an Overweight rating, citing optimism towards the company’s growth prospects in the silicon carbide market. Loop Capital also initiated coverage, assigning a Buy rating and emphasizing the company’s strong position in the automotive market.
Additionally, the company announced strengthened ties with Denso, with plans to support technologies for autonomous driving and driver assistance. This collaboration includes Denso’s intent to acquire an undisclosed quantity of ON Semiconductor shares.
ON Semiconductor’s Treo Platform has been a point of interest, with the company having already sampled 10 Stock Keeping Units and planning to double this figure by mid-2025. The platform is expected to serve key industries such as automotive, industrial, healthcare, and AI data centers. These are recent developments that have been shaping the narrative around ON Semiconductor.
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