onsemi (ON) tops Q1 expectations but guidance falls short

ON Semiconductor (ON) PT Lowered to $85 at JPMorgan

JPMorgan analyst Harlan Sur lowered the price target on ON Semiconductor (NASDAQ: ON) to $85.00 (from $90.00) while maintaining a Neutral rating.

The analyst comments "ON Semi reported 1Q results (revenues, margins, EPS) better than consensus on better industrial (stability in traditional industrial segments). For the 2Q outlook, the team guided revenues down 7% Q/Q, below consensus on broad-based end market weakness and soft China orders post CNY but in line with the guidance of its power semiconductor peer, STMicroelectronics. After the negative revenue reset, we believe Jun-Qtr represents the cycle bottom for... More

ON Semiconductor (ON) PT Raised to $89 at Goldman Sachs

Goldman Sachs analyst Toshiya Hari raised the price target on ON Semiconductor (NASDAQ: ON) to $89.00 (from $81.00) while maintaining a Buy rating.

The analyst comments "onsemi reported modest upside to Street 1Q24 EPS expectations ($1.08 vs. $1.04) and provided what we believe was a better-than-feared 2Q24 non-GAAP... More

onsemi (ON) Tops Q1 EPS by 4c, provides guidance

onsemi (NASDAQ: ON) reported Q1 EPS of $1.08, $0.04 better than the analyst estimate of $1.04. Revenue for the quarter came in at $1.86 billion versus the consensus estimate of $1.85 billion.

GUIDANCE:

onsemi sees Q2 2024 EPS of $0.86-$0.98, versus the consensus of $1.01. onsemi sees Q2 2024... More

onsemi (ON) May weekly option implied volatility into quarter results

onsemi (NASDAQ: ON) May weekly call option implied volatility is at 85, May is at 59; compared to its 52-week range of 33 to 58 into the expected release of quarter results before the bell on April 29.

onsemi (ON) May weekly 66 straddle into quarter results

onsemi (NASDAQ: ON) May weekly 66 straddle priced for a mov of 9% into the expected release of quarter results before the bell on April 29.