ON Semiconductor: Post-Earnings Pop On Soft Guidance Is A Good Sign

Photo by Rafa Elias/Moment via Getty Images ON Semiconductor Corporation or onsemi (NASDAQ:ON) investors who decided to buy in November after its third-quarter earnings plunge have done well, outperforming the S&P 500 (SPX) (SPY) since my previous update. I highlighted the capitulation of ON in my November article, arguing why ON's valuation has normalized from its 2023 highs. As a result, it looked much more attractive, leading me to add exposure, given the fantastic dip-buying opportunity. As a result, I ...