These Analysts Slash Their Forecasts On ON Semiconductor After Downbeat Results

Financial Performance - ON Semiconductor reported a fiscal fourth-quarter 2024 revenue decline of 15% year-on-year to $1.72 billion, missing the analyst consensus estimate of $1.76 billion [1] - The adjusted EPS of 95 cents also missed the analyst consensus estimate of 97 cents [1] - The company expects first-quarter adjusted revenue of $1.35 billion to $1.45 billion, below the consensus of $1.69 billion, and adjusted EPS of $0.45 to $0.55, below the consensus of $0.89 [2] Market Reaction - ON Semiconductor shares fell 8.2% to close at $47.04 following the earnings announcement [3] Analyst Ratings and Price Targets - Citigroup analyst Christopher Danely maintained a Neutral rating and lowered the price target from $77 to $52 [5] - Morgan Stanley analyst Joseph Moore maintained an Underweight rating and lowered the price target from $52 to $44 [5] - JP Morgan analyst Harlan Sur maintained a Neutral rating and lowered the price target from $88 to $60 [5] - Mizuho analyst Vijay Rakesh maintained an Outperform rating and lowered the price target from $85 to $71 [5] - Needham analyst Quinn Bolton maintained a Buy rating and cut the price target from $66 to $57 [5] - Rosenblatt analyst Kevin Cassidy maintained a Neutral rating and slashed the price target from $75 to $49 [5]