ON Semiconductor Powers Through Expectations, But Analysts Dial Down Targets On Margin Squeeze
1. ON Semiconductor's Q1 revenue fell 22.4% to $1.45 billion, beating estimates. 2. Adjusted EPS of $0.55 topped forecasts of $0.51 from analysts. 3. Second-quarter guidance projects revenue of up to $1.45 billion. 4. Analysts see mixed outlooks, with price targets adjusted lower. 5. Gross margin pressures are likely to persist until 2025.