ON Semi Stock Gains Despite Weak Guidance. It’s Good News for Rival Chip Makers.
ON Semiconductor stock was rising even though the company posted disappointing second-quarter financial guidance. It could be a good sign for other companies making chips for the auto industry, one analyst says. ON Semi told investors to expect second-quarter earnings of between 86 cents and 98 cents a share from revenue of between $1.68 billion and $1.78 billion.