SiC Execution Drives ON Semiconductor's Beat And Raise: 4 Analysts Raise Forecasts
Portfolio Pulse from Priya Nigam
ON Semiconductor Corp (NASDAQ:ON) reported upbeat Q2 earnings, leading to a rise in its share price. Analysts from Susquehanna, Mizuho Securities, Truist Securities, and Stifel have raised their price targets for the company. The positive results were primarily driven by growth in the Automotive and Industrial sectors, with Silicon Carbide (SiC) and Image Sensors playing a significant role. The company's strategic execution and long-term customer agreements were also highlighted.
August 04, 2023 | 9:08 am
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ON Semiconductor's Q2 earnings beat expectations, leading to a rise in its share price and raised price targets from analysts. The company's growth in the Automotive and Industrial sectors, particularly in Silicon Carbide (SiC), was a key driver.
ON Semiconductor's Q2 earnings beat expectations, which is a positive signal for investors and can lead to a rise in the company's share price. The raised price targets from analysts further reinforce the positive outlook for the company. The growth in the Automotive and Industrial sectors, particularly in Silicon Carbide (SiC), indicates strong performance and potential for future growth.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100