Movement Alert｜ON Semiconductor Intraday Rise 5.18% in Regular Trading, earnings expectations improved ahead of results

Market Focus10-27 23:51

On October 27, ON Semiconductor saw an Intraday Rise of 5.18% in Regular Trading, with the stock trading at $77.96 and turnover of $117 million.

The clearest catalyst in publicly available reports was a renewed focus on the company’s upcoming quarterly results. Consensus estimates point to revenue of $1.703 billion, up 12.40% year over year, and adjusted EPS of $0.88, up 48.53% year over year, ahead of the November 2 earnings release.

Company guidance issued earlier called for revenue of $1.65 billion to $1.75 billion and non-GAAP gross margin of 40.00% to 42.00%. In the prior quarter, ON Semiconductor reported revenue of $1.604 billion, up 9.18% year over year, gross margin of 39.27%, net income of $227 million, net margin of 14.14%, and adjusted EPS of $0.74. Separately, recent analyst updates still indicated an average overweight stance, although some price targets were trimmed.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

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