Onsemi Guides Q3 Revenue $1.65B-$1.75B, Below Consensus
ON sits 90% above its 52-week low of $44.56.
Summary
Onsemi issued Q3 revenue guidance of $1.65B-$1.75B, which at the midpoint of $1.7B falls short of the $1.78B consensus. This is the first forward look since the Synaptics acquisition announcement in late June, and the lower guide may reflect integration costs or softening demand. The stock has been under pressure since the all-stock Synaptics deal, and this guidance miss adds another layer of uncertainty. Traders will watch for management commentary on the earnings call for details on the Synaptics timeline and end-market trends.
At the time of this announcement, ON was trading at $84.57 on NASDAQ in the Technology sector, with a market capitalization of approximately $31.3B. The 52-week trading range was $44.56 to $134.92. This news item was assessed with neutral market sentiment and an importance score of 7 out of 10. Source: Dow Jones Newswires.