Onsemi Stock Sinks on Worse-Than-Expected Results, Outlook
1. ON Semiconductor reported lower-than-expected earnings and revenue guidance. 2. Sales declined in all divisions, highlighting overall market difficulties. 3. CEO reaffirmed commitment to long-term strategy despite uncertain 2025 outlook. 4. Current-quarter EPS forecast is below analyst expectations. 5. ON shares dropped over 6%, reaching lows not seen since June 2022.