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Analysis of ON Semiconductor Corporation

Analysis of ON Semiconductor Corporation

7 September 2022

ON Semiconductor: betting on semiconductors

ON Semiconductor is perhaps one of the “growth companies”, that is, enterprises that are able to be among the leaders of the increase in the future. The business produces semiconductors for the automotive industry and other consumers, including the medical and aerospace sectors. The defense industry and the 5G segment also use ON Semiconductor products.

The semiconductor segment has remained frustratingly unstable in recent years. There is definitely a demand for products, but production involves a lot of difficulties and risks.

Not so long ago, ON Semiconductor was included in the S&P 500 index.

In the second quarter of 2022, ON Semiconductor reported record quarterly revenue of $2.085 billion (+25% YoY). The data turned out to be almost 4% higher than market expectations. GAAP gross profit turned out to be a record, operating margin increased by 34.5%. The profit was $1.34 per share with an expectation of $1.26 per security.

In the third quarter, the company is expected to generate revenue in the range of $2.07-2.17 billion.

The consensus forecast for the company’s security is $79-80.

The daily trading schedule for ON Semiconductor shares does not look the most inspiring, but it is temporary. The MACD indicator is declining in the positive zone and signals a sale. The Stochastic oscillator falls, descends into the oversold zone and strengthens the sell signals. The picture will change after the price returns above $68.

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    ARAVANA Capital management
    7 September 2022
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