ON Semiconductor (NASDAQ:ON) stock reported a fiscal third-quarter 2024 revenue decline of 19.2% year-on-year to $1.76 billion, beating the analyst consensus estimate of $1.75 billion.
The adjusted EPS of $0.99 beat the analyst consensus estimate of $0.97.
Revenue from Power Solutions Group (PSG) declined 23% year over year to $829.4 million, Analog and Mixed-Signal Group (AMG) decreased 16% year over year to $653.7 million, and Intelligent Sensing Group (ISG) fell 15% year over year to $278.8 million.
The adjusted EPS of $0.99 beat the analyst consensus estimate of $0.97.
Revenue from Power Solutions Group (PSG) declined 23% year over year to $829.4 million, Analog and Mixed-Signal Group (AMG) decreased 16% year over year to $653.7 million, and Intelligent Sensing Group (ISG) fell 15% year over year to $278.8 million.
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NewsTranscript
00:00we had uh earnings on on this morning eps came in at 99 cents beat by two cents revenue of 1.76
00:08billion beat by 10 million uh on so they expect revenue of 1.71 to 1.81 billion uh versus the
00:161.75 billion dollar estimate so that came in in line eps of 92 cents to a buck oh four versus
00:22the 97 cents estimate also in line and you are seeing on trading up a dollar and 26 cents on
00:30this report earnings were fine report was fine the stock is kind of fine but it really has been an
00:38underperformer i know you know overall you think about semiconductors and how great of a year
00:42they've had and then you've got on and if you've been long on for a long time you're probably very
00:47disappointed with your overall performance so i mean relative strength has not been in the stock's
00:51favor whatsoever so it's hard to get really excited about this and say yep this is the
00:55turnaround story and maybe it is maybe this is going to be the catch-up story and on the stocks
00:58trading up it's performing okay after the earnings but it's just been a real underperformer uh just
01:05the tacticals are just like someone's just been so patient here for the last six months at 66 to
01:1467 so that's great made you know as extra major support the only problem is is like you're not
01:20really bolting away from it you know it's the buyers aren't stepping up i mean that's on the
01:25monthlies there uh let's see for today's action that's all you guys care about i mean to get the
01:32front well it did get the friday side but then it pulled back so if you're looking for a nice run in
01:37this thing you got to get up to friday side it's a buck 60 away catch another bid your two day high
01:4476 41 oh i'm gonna get the monthly sorry folks sorry sorry sorry yesterday's high was uh
01:5172 97 so bust through there and you got some room you traded through it but establish your 73 bid
01:59and look at that or excuse me boy i'm off this morning 74 to 76 looks open to me in on