Why ON Semiconductor's Stock Is Trading Higher Today

ON Semiconductor Corporation ON shares are trading higher after the company reported better-than-expected Q2 earnings per share and sales results. The company also issued Q3 earnings per share and sales guidance above analyst estimates.

ON Semiconductor reported quarterly earnings of $0.63 per share which beat the analyst consensus estimate of $0.49 and sales of $1.67 billion which beat the analyst consensus estimate of $1.62 billion.

The company also issued third-quarter earnings per share guidance in the range of $0.68 and $0.80 which is above the estimate of $0.51 and sales in the range of $1.66 billion and $1.76 billion which is above the estimate of $1.61 billion.

ON Semiconductor Corporation, together with its subsidiaries, manufactures and sells semiconductor components for various electronic devices worldwide.

ON Semiconductor's stock was trading about 9.6% higher at $42.81 per share on Monday. The stock has a 52-week high of $44.59 and a 52-week low of $19.75.