On June 4, ON Semiconductor fell 6.16% in regular trading, trading at $127.76/share, with trading volume of $179 million. The decline came amid a broad semiconductor sector selloff that dragged down individual stocks across the board.
The semiconductor sector experienced significant selling pressure, with Broadcom plunging 15.24%, Micron Technology falling 7.7%, Advanced Micro Devices declining 6.13%, and Marvell Technology dropping 5.11%. The sector-wide weakness created strong downward pressure on ON Semiconductor, which had accumulated notable gains over the prior two sessions.
ON Semiconductor had rallied on consecutive days after announcing a deepened partnership within NVIDIA's MGX ecosystem to provide advanced power solutions for next-generation AI data centers and 800V DC power architecture. Additionally, Mizuho had raised its price target from $130 to $150 while maintaining an Outperform rating. The current pullback represents a digestion of those gains under broader sector pressure, as profit-taking accelerated amid the industry-wide downturn.
(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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