Onsemi beats estimates but lowers outlook! ⚙️
ON Semiconductor $ON is a global leader in semiconductor manufacturing, with an emphasis on power and sensor chips for the automotive, industrial and consumer markets. Their innovative technologies play a key role in megatrends such as vehicle electrification, sustainable energy and industrial automation.
The company had an amazing first quarter profit $1.08 per share on sales of $1.86 billion. That beat analysts' estimates, who were expecting a profit USD 1.04 per share on sales of of $1.85 billion. While still facing a cyclical slowdown in demand, this news is a positive sign.
At the same time, however, the company adjusted its outlook for the next period. Onsemi expects earnings per share of 92 cents on sales USD 1.73 billion. Analysts were expecting a profit in the second quarter 1 dollar per share on revenue of $1.82 billion.
The stock is up more than 3% today.
The semiconductor industry is very interesting because it is linked to the megatrends and innovations of our time.
What is your opinion of this company? Do you have any other semiconductor manufacturers in your portfolio?
For having lowered the outlook it still turned out very well. Not like Meta...
This scorecard is some strange overall, $TSLA+1.6% worse than expected and still such growth.
Tell me about it. We got rates today and the stock sold off solidly in the last quarter hour yesterday before the close.