On August 4, ON Semiconductor rose 6.19% in pre-market trading, trading at approximately $85.48 per share, with turnover of $409,000.

The movement was driven by the company's Q2 earnings release, which beat analyst expectations across the board. Adjusted EPS came in at $0.74, surpassing the consensus estimate of $0.71 by 2.78%, representing a 39.62% year-over-year increase from $0.53. Revenue reached $1.603 billion, up 9.2% year-over-year and exceeding the $1.588 billion estimate. Q3 revenue guidance of $1.65 billion to $1.75 billion also topped the Street's $1.67 billion forecast, with adjusted EPS guidance of $0.81 to $0.93 versus the $0.83 consensus.

CEO Hassane El-Khoury highlighted that AI data centers remain the company's fastest-growing segment, with revenue expected to more than double in the full year compared to the prior year. The Power Solutions Group, which covers automotive, industrial, and AI data center businesses, demonstrated the strongest growth momentum as AI infrastructure buildout drives surging demand for power management chips.

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