Hassane El-Khoury, the CEO and President of ON Semiconductor Corp (NASDAQ:ON), a prominent player in the Semiconductors industry with a market capitalization of $27.8 billion, recently sold 1,500 shares of the company's common stock. The transaction, which took place on December 17, 2024, was executed at a price of $70 per share, amounting to a total value of $105,000. The stock currently trades at $64.93, and according to InvestingPro analysis, appears to be undervalued. Following this sale, El-Khoury retains ownership of 836,210 shares directly. This transaction was conducted under a pre-established trading plan. The company maintains a "GOOD" Financial Health score according to InvestingPro, which offers 12 additional valuable insights about ON Semiconductor's performance and prospects in its comprehensive Pro Research Report.
In other recent news, Onsemi and Denso have announced plans to strengthen their partnership, aiming to support technologies for autonomous driving and driver assistance. Denso intends to acquire an undisclosed quantity of Onsemi shares on the open market. Wells Fargo (NYSE:WFC) initiated coverage on Onsemi, issuing an Overweight rating and expressing optimism towards the company's growth prospects, particularly in the silicon carbide (SiC) market. The firm projects significant acceleration in SiC revenue growth in 2025, reaching approximately $1.1 billion.
Onsemi has also introduced the Treo Platform, a new addition to the high-performance analog segment, with management setting a $1 billion revenue target by 2030. Needham reiterated its Buy rating on Onsemi shares, emphasizing the potential of the Treo Platform. Loop Capital initiated coverage on Onsemi, assigning a Buy rating and highlighting the company's strong position in the automotive market.
Onsemi reported a slight increase in its third-quarter earnings, with revenue rising to $1.76 billion, marking a 2% sequential growth. For the fourth quarter, the company anticipates revenue to fall between $1.71 billion and $1.81 billion. Deutsche Bank (ETR:DBKGn) maintained a Buy rating on Onsemi, following the company's announcement of the new Treo Platform.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.