What's Going On With On Semiconductor Stock?
Portfolio Pulse from Erica Kollmann
ON Semiconductor Corporation (NASDAQ:ON) shares rose after Texas Instruments, Inc. (NASDAQ:TXN) reported Q1 earnings surpassing estimates. Texas Instruments' earnings were $1.20 per share with revenue of $3.66 billion, exceeding expectations. ON Semiconductor is anticipated to report Q1 earnings of $1.04 per share and revenue of $1.851 billion. Analysts have recently lowered ON's price targets, with Exane BNP Paribas downgrading it to Underperform. ON's 200-day moving average is $82.36, above its current price, indicating potential long-term bullishness.
April 24, 2024 | 3:41 pm
News sentiment analysis
Sort by:
Descending
POSITIVE IMPACT
ON Semiconductor's stock rose following Texas Instruments' positive earnings report, with upcoming Q1 expectations and recent analyst downgrades.
ON Semiconductor's stock increase is likely due to the positive sentiment generated by Texas Instruments' earnings beat, suggesting a favorable outlook for semiconductor companies. However, recent analyst downgrades and price target adjustments may temper short-term gains.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 90
POSITIVE IMPACT
Texas Instruments reported higher than expected Q1 earnings, positively influencing the semiconductor sector, including ON Semiconductor.
Texas Instruments' strong Q1 performance likely contributes to a positive outlook for the semiconductor industry, potentially benefiting related stocks like ON Semiconductor in the short term.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 70