ON Semiconductor shares are trading lower on continued weakness after the company on Monday reported Q3 financial results and issued Q4 guidance. Additionally, multiple firms lowered their respective price targets on the stock.
Portfolio Pulse from Benzinga Newsdesk
ON Semiconductor's shares are trading lower following the company's Q3 financial results and Q4 guidance. Several firms have also reduced their price targets for the stock.
October 31, 2023 | 7:32 pm
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NEGATIVE IMPACT
ON Semiconductor's stock is trading lower due to disappointing Q3 results and Q4 guidance. The situation is exacerbated by multiple firms lowering their price targets.
ON Semiconductor's Q3 results and Q4 guidance did not meet market expectations, leading to a drop in its stock price. The lowering of price targets by multiple firms further indicates a lack of confidence in the company's short-term performance.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100