ON Semiconductor Corp ON shares are trading higher by 3.6% at $37.11 Wednesday afternoon as semiconductor stocks rebound following recent weakness. Strong earnings and guidance from AMD have also lifted stocks in the space today.
AMD reported quarterly earnings of 63 cents per share which beat the analyst consensus estimate of 54 cents per share. AMD also reported quarterly sales of $3.85 billion which beat the analyst consensus estimate of $3.62 billion.
ON Semiconductor is a leading supplier of power and analog semiconductors, as well as sensors.
ON is also the largest supplier of image sensors to the automotive market, targeting autonomous driving applications. The firm is concentrated in and focused on the automotive, industrial and communications markets and is reducing its exposure to the consumer and computing markets.
ON Semiconductor has a 52-week high of $44.59 and a 52-week low of $19.75.
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