ON Semiconductor Stock Rose 6% in Morning Trading

Tiger Newspress2022-02-07

ON Semiconductor stock rose 6% in morning trading after reporting record revenue for Q4 2021.

Record fiscal year revenue of $6.74 billion representing 28.3% year-over-year growth
Record quarterly revenue of $1,846.1 million, and record GAAP and non-GAAP gross margins of 45.1% and 45.2%, respectively
Record quarterly GAAP and non-GAAP operating margins of 26.0% and 28.6%, respectively
Fourth quarter GAAP and non-GAAP diluted earnings per share of $0.96 and $1.09, respectively
2021 free cash flow increased 167% year-over-year, with fourth quarter at $457.0 million or 25% of revenue

“Our disciplined execution on transformation initiatives in 2021 resulted in record financial performance and achievement of our financial targets ahead of stated timeline. Revenue for 2021 grew 28.3%. Operating income and free cash flow increased 6 times faster than the revenue as we focus our portfolio on secular megatrends of electric vehicles, ADAS, alternative energy and industrial automation. We continue to expand gross margins as we shift our mix into these high-value strategic markets while ramping new products, rationalizing our manufacturing footprint, and improving our overall cost structure. Outlook for our business remains robust as evidenced by over 60% year-over-year growth in our design win funnel driven by our highly differentiated intelligent power and sensing portfolio,” said Hassane El-Khoury, president and CEO of onsemi.

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Comments

Nkj
2022-02-08
Nkj
Hope it keep going up
ckLai
2022-02-07
ckLai
Hi
ckLai
2022-02-07
ckLai
Hi
Annalz
2022-02-07
Annalz
Add oil Semiconductor ones
dahae
2022-02-07
dahae
A
Mom of 2
2022-02-07
Mom of 2
Increase more pls!

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