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ON Semiconductor Stock Hits 52-Week High Before May 4 Earnings: Why ON Shares Are in Focus
ON Semiconductor (ON) shares reached a new 52-week high of $103.03 on May 1st, driven by new electric vehicle partnerships with Geely and NIO, which focus on its silicon-carbide power chips. The company is set to report its first-quarter earnings on May 4th, with analysts expecting adjusted earnings of approximately $0.62 per share on $1.49 billion in revenue. The stock’s performance reflects increased confidence in the company’s chip technology for the growing EV market, despite a previous decline in fourth-quarter revenue.