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Earnings Miss Pressures Chip Stock to 2-Year Lows
ONON Semiconductor(ON) Schaeffers Investment Research·2025-02-10 15:03

ON Semiconductor Corp (NASDAQ:ON) stock is down 5.1% to trade at a two-year low of 48.55atlastcheck,afterthe chipconcern missedtop−andbottom−lineestimatesforthefourthquarterandissuedadismalfiscalfirst−quarterforecast.Thecompanyattributedthelacklusterresultsandoutlooktoweakerdemandfromautomakers.ONcarriesa39.748.55 at last check, after the chip concern missed top- and bottom-line estimates for the fourth quarter and issued a dismal fiscal first-quarter forecast. The company attributed the lackluster results and outlook to weaker demand from automakers.ON carries a 39.7% year-over-year deficit, and is gapping below recent support at the 50 level, after failing to conquer its 20-day moving average in the previous session. Shares a ...