On Semiconductr Stock Price, News & Analysis

ON Semiconductor (Nasdaq: ON) announced that its imaging and LiDAR technologies are integral to AutoX’s Gen5 self-driving platform, showcased at the World Artificial Intelligence Conference. This technology enables fully driverless RoboTaxis aimed at increasing access to autonomous transport. The partnership highlights ON's AR0820AT 8 MP image sensors and SiPM arrays for LiDAR, crucial for urban navigation and safety. AutoX, a leader in Level 4 autonomous driving in China, has secured licenses for RoboTaxis in major cities and California, indicating ongoing advancements in the automated transport sector.

ON Semiconductor Corporation (Nasdaq: ON) has priced a private offering of $700 million in 0% Convertible Senior Notes due 2027, at a premium of approximately 42.5% over the recent stock price. The offering, which may increase to $805 million with an over-allotment option, is expected to close on May 14, 2021. Proceeds will be used for various purposes including repurchasing existing convertible notes, refinancing debt, and general corporate purposes. Notably, the initial conversion price is set at about $52.97 per share. The offering aims to mitigate potential dilution through hedge agreements.

ON Semiconductor plans to offer $700 million in 0% Convertible Senior Notes due 2027, potentially increasing to $805 million if initial purchasers exercise their option. The notes are senior unsecured obligations and will have no regular interest. Proceeds will cover costs related to note hedge transactions, repurchase existing convertible notes, repay credit facility debts, and general corporate purposes. Potential dilution to common stock is anticipated due to these transactions. The offering is not registered under the Securities Act, emphasizing its exclusive nature.

ON Semiconductor Corporation reported a strong first quarter of 2021 with revenue reaching $1,481.7 million, a 16% increase year-over-year. The company achieved a GAAP diluted EPS of $0.20, compared to a loss of $(0.03) a year prior. Non-GAAP diluted EPS improved to $0.35 from $0.10. Gross margin rose to 35.2%, an increase of 370 basis points year-over-year. Automotive revenue peaked at $515 million, up 5% sequentially. The outlook for Q2 2021 suggests estimated revenue between $1,570 million and $1,670 million.

ON Semiconductor Corporation (Nasdaq: ON) will announce its Q1 2021 financial results on May 3, 2021, before the market opens. A conference call will follow at 9 a.m. EDT, accessible via a webcast or teleconference. Investors can join the call using the provided numbers and Conference ID 5398970. The company focuses on energy-efficient electronics and seeks to be the supplier of choice for various technological applications.

On March 8, 2021, Digi-Key Electronics was awarded ON Semiconductor's Global High Service Distributor for 2020, marking the second consecutive year for this recognition. The award acknowledges Digi-Key for leading channel sales, increasing market share, and achieving excellence in operations within the semiconductor market. Jeff Thomson from ON Semiconductor credited channel partners for their role in sales growth and customer support. With approximately 60% of ON Semiconductor's sales from distribution, this partnership is crucial for enhancing market penetration and revenue growth.

ON Semiconductor (Nasdaq: ON) has been named one of the 2021 World’s Most Ethical Companies by Ethisphere for the sixth consecutive year, highlighting its commitment to ethical business practices. The company is recognized as one of only three honorees in the semiconductor sector. CEO Hassane El-Khoury emphasized the importance of ethics and responsible operations amid evolving market challenges. ON Semiconductor also ranks as the highest-rated semiconductor company in Barron’s 100 Most Sustainable Companies, moving up to No. 10, reflecting its dedication to sustainability and ethical governance.

ON Semiconductor (NASDAQ: ON) will host its Financial Analyst Day on August 5, 2021, featuring key presentations on the company’s strategy, direction, and financial outlook. Attendance is by invitation only, with further details provided prior to the event. A real-time webcast will be available on the company's investor website, along with a replay accessible for approximately 30 days post-event. The event highlights ON's commitment to energy-efficient innovations across various sectors, including automotive and industrial applications.