ON Semiconductor Gears Up For Q1 Print; Here Are The Recent Forecast Changes From Wall Street's Most Accurate Analysts

Group 1 - ON Semiconductor Corporation is set to release its first-quarter earnings results on May 5, with analysts expecting earnings of 50 cents per share, a decrease from $1.08 per share in the same period last year [1] - The projected quarterly revenue for ON Semiconductor is $1.4 billion, down from $1.86 billion a year earlier [1] - ON Semiconductor has ceased its acquisition efforts for Allegro MicroSystems, withdrawing its cash proposal of $35.10 per share due to the lack of an actionable path forward [2] Group 2 - ON Semiconductor shares increased by 5.8%, closing at $41.91 on the last trading day [2] - Analysts have provided various ratings and price target adjustments for ON Semiconductor, with Stifel lowering its target from $52 to $42, Citigroup from $52 to $40, Keybanc from $60 to $55, Mizuho from $71 to $62, and Needham maintaining a target of $57 [8]