Movement Alert|ON Semiconductor Rises 5.35% in Regular Trading, Semiconductor Sector Oversold Rebound Coupled with Earnings Expectations

Market Focus
Jul 30

On July 30, ON Semiconductor rose 5.35% in regular trading, trading at approximately $84.74 per share, with turnover of $141 million.

On the news front, the Philadelphia Semiconductor Index had suffered consecutive sharp declines over the prior two trading days, during which ON Semiconductor fell more than 10% cumulatively. The sector staged a technical rebound on July 30, with semiconductor stocks broadly rallying. Additionally, ON Semiconductor is scheduled to report earnings on August 3, with consensus estimates projecting quarterly revenue of $15.88 billion, up 9.33% year-over-year, and adjusted EPS of $0.72, up 34.06% year-over-year. The ongoing power semiconductor pricing upcycle is also providing support for anticipated earnings improvement.

Within the Semiconductors sector, individual stocks showed broad strength, with SK hynix up 17.41%, Micron Technology up 17.18%, Advanced Micro Devices up 15.88%, Intel up 14.86%, and NVIDIA up 3.76%.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

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