sefa ozel Investment Thesis ProShares Ultra Semiconductors ETF (NYSEARCA:USD) warrants a buy rating to take advantage of expected semiconductor industry growth in 2024 and over the next decade. While late 2022 saw a decline in the semiconductor industry, 2024 is expected to see a solid rebound. Although multiple semiconductor ETFs exist, USD utilizes derivative contracts to outperform the daily performance of the semiconductor industry. Therefore, investors seeking increased returns from the semiconduct ...

ON Semiconductor Corporation Conference Call Summary Company Overview - **Company**: ON Semiconductor Corporation (NASDAQ: ON) - **Date**: December 5, 2023 - **Participants**: - Hassane El-Khoury - President & CEO - Thad Trent - CFO - Joseph Moore - Senior Analyst Key Industry Insights - **Automotive Market**: - Experienced a sudden weakness due to inventory digestion, particularly among European Tier 1 suppliers [5][6] - Demand softness has led to elevated inventory levels [5] - **Industrial Market**: - Remains stable with no significant changes noted; performance aligns with previous expectations [6][46] - Specific segments such as renewable energy and medical devices are showing growth, with renewable energy growing 70% year-over-year [49] Core Company Strategies and Performance - **Margin Improvement**: - Structural changes over the past two years have led to improved margins, with current margins in the mid-40s compared to low 30s in 2019 [9][51] - Utilization is expected to remain in the high-60s, maintaining a margin floor in the mid-40s [9][51] - **Long-Term Supply Agreements (LTSAs)**: - LTSAs provide predictability in volume and pricing, allowing better management of customer demand and inventory [8][15] - Customers are proactive in communicating demand changes, reducing the risk of excess inventory [15][36] Financial Performance and Projections - **Revenue Growth**: - Achieved a 4x increase in revenue from silicon carbide technology in 2023 compared to 2022 [22] - Revenue shortfall in Q4 due to a single OEM's demand issues, but overall market share is expected to grow [29][30] - **Future Outlook**: - Confidence in sustaining mid-40s gross margins even in a weak environment, with potential for improvement as utilization increases [51][52] - Anticipated benefits from divesting four fabs and managing fixed costs effectively [52] Competitive Landscape - **Chinese Competition**: - Investments in trailing-edge analog capacity in China are noted, but ON Semiconductor emphasizes competition based on product performance rather than capacity alone [18][19] - Successful engagement with Chinese OEMs, such as NEO, highlights the importance of product value and performance [20] Additional Considerations - **Inventory Management**: - ON Semiconductor is focused on managing inventory levels to avoid excess, leveraging LTSAs for better visibility and planning [39][41] - **Market Trends**: - Continued enthusiasm for the EV market, with expectations for growth despite potential fluctuations in overall vehicle production [33][34] - **Sector-Specific Growth**: - Notable growth in energy storage and distribution, as well as medical devices, indicating diversification in demand [49] This summary encapsulates the key points discussed during the conference call, highlighting ON Semiconductor's strategic focus, market conditions, and financial outlook.

ON Semiconductor Corporation (NASDAQ:ON) 2023 UBS Global Technology Conference Call November 28, 2023 3:35 PM ET Company Participants Hassane El-Khoury - President & Chief Executive Officer Thad Trent - Chief Financial Officer Conference Call Participants Timothy Arcuri - UBS Timothy Arcuri Okay, we're going to get started with the next session. I'm Tim Arcuri. I'm the semiconductor analyst here at UBS. I'm pleased to have ON Semi. We have Hassane El-Khoury, President and CEO; and we have Thad Trent, CFO. S ...

ON Semiconductor Corporation (NASDAQ:ON) Q3 2023 Earnings Conference Call October 30, 2023 9:00 AM ET Company Participants Parag Agarwal - VP, IR & Corporate Development Hassane El-Khoury - President & CEO Thad Trent - CFO Conference Call Participants Ross Seymore - Deutsche Bank Vivek Arya - BofA Securities Chris Danely - Citigroup Inc. Harsh Kumar - Piper Sandler Gary Mobley - Wells Fargo Securities Joshua Buchalter - TD Cowen Joseph Moore - Morgan Stanley Christopher Rolland - Susquehanna Financial Gro ...

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ON Semiconductor Corporation Conference Call Summary Company Overview - **Company**: ON Semiconductor Corporation (NASDAQ:ON) - **Date**: August 7, 2023 - **Participants**: Thad Trent (CFO), Simon Keeton (EVP, GM of Power Solutions Group) Industry Insights - **Industry**: Semiconductor, specifically focusing on automotive and industrial sectors Key Points and Arguments Auto and Industrial Business Performance - The auto industry is forecasted to grow about 5% in 2023 and 1.5% in 2024, while EV growth is projected at a 35% CAGR over the next several years [6][2] - ON Semiconductor is over-indexed in EVs and advanced driver-assistance systems (ADAS), with $50 content in internal combustion vehicles and $750 in EVs, indicating a significant growth opportunity [3][4] - Alternative energy sectors within industrial applications grew by 70% year-over-year [3] Inventory and Demand Management - Aggregate inventories are at all-time highs, but ON Semiconductor does not perceive large pockets of excess inventory [2][3] - The company has been managing internal and channel inventory tightly, maintaining utilization rates around 70% [7][8] Long-Term Supply Agreements (LTSA) - The company added $4 billion in long-term agreements last quarter, totaling $11 billion in LTSAs, with an average duration of about five years [4][10] - These agreements provide visibility into order patterns and help in the development of next-generation products [10] Silicon Carbide Market Position - ON Semiconductor is gaining market share in silicon carbide due to superior performance, integrated supply chain, and a comprehensive product offering [12][13] - The company expects silicon carbide gross margins to reach corporate averages by the end of 2023, with significant growth anticipated in the coming years [28] Image Sensor Business Growth - The image sensor business is experiencing growth due to increased sensor adoption in vehicles, with ON Semiconductor holding over 70% market share in ADAS globally [19][20] - The company has restructured its sensor business to focus on automotive (90%) and industrial (10%) applications, moving away from consumer devices [20] Medical Sector Opportunities - The medical segment is emerging, with a projected growth rate of 20% per year, driven by applications like continuous glucose monitoring and hearing aids [26] Non-Core Business Exits - The company is exiting a highly volatile, price-sensitive business, with a gross margin in the low to mid-40% range. It has exited $100 million so far and plans to exit an additional $350 million to $400 million by year-end [21][23] Fab Strategy and Production Capacity - ON Semiconductor has divested four fabs and acquired the East Fishkill fab, maintaining a strategy to manufacture about 65% of its products internally [34] - The transition to 8-inch wafers is ongoing, with production expected to ramp up in 2025, providing cost benefits due to increased wafer output [30][31] Geopolitical and Supply Chain Considerations - The company is cautious about sourcing substrates from China due to quality concerns and geopolitical risks, with over 50% of substrates expected to come from internal sources by year-end [16][17] AI Market Potential - There are opportunities for ON Semiconductor to benefit from AI developments, particularly in power efficiency for AI servers [46][47] Additional Important Insights - The company is focused on optimizing its fab operations and addressing cost structure challenges at the East Fishkill fab, with expectations to resolve these issues by the end of 2024 [38][39] - The management emphasizes a cautious approach to scaling production and ensuring quality while navigating market uncertainties [8][36]

Quarterly Investor Presentation Second Quarter 2023 1 PPuubblliicc IInnffoorrmmaattiioonn ©© oonnsseemmii 22002233 Safe Harbor Statement and Non-GAAP and Forecast Information ...

ON Semiconductor Corporation (NASDAQ:ON) Q2 2023 Earnings Conference Call July 31, 2023 9:00 AM ET Company Participants Parag Agarwal - VP, IR & Corporate Development Hassane El-Khoury - President & CEO Thad Trent - CFO Conference Call Participants Blake Friedman - Bank of America Harsh Kumar - Piper Sandler Gary Mobley - Wells Fargo Christopher Rolland - Susquehanna Joshua Buchalter - TD Cowen Quinn Bolton - Needham Timothy Arcuri - UBS William Stein - Truist Securities Operator Good day, and thank you for ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2023 Or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to (Commission File Number) 001-39317 ON SEMICONDUCTOR CORPORATION (Exact name of registrant as specified in its charter) Delaware 36-3840979 (State or other j ...