ON Semiconductor Corp (NASDAQ:ON) Continues To Buzz With All Good News


ON Semiconductor Corp (NASDAQ:ON) reported that it will fill their meter booth at upcoming electronica event with new products and informative demos focused on solutions for the major and fast growing markets of automotive, HPPC and the IoT.

The details

ON Semiconductor will also showcase its forward looking and detailed technical papers at several forums. This comprises numerous presentations at the Automotive Conference where the firm will head a discussion about the way highly energy efficient and innovative semiconductor solutions will support the course of vehicle manufacturers to their objective of autonomous driving. ON Semiconductor’s demonstrations will showcase system and components solutions to allow innovation in these sections including IGBTs, MOSFETs, SiC devices and power modules.

Earlier in this month, ON Semiconductor and Fujitsu Semiconductor Limited reported that ON Semiconductor plans to close the incremental 20% stock purchase of Aizu Fujitsu Semiconductor Manufacturing Ltd on October 1, 2018. Under this deal, ON Semiconductor will keep a 60% majority stake in the joint venture. The two firms finalized a deal in 2014 following which ON Semiconductor got a 10% ownership stake in Fujitsu’s Aizu 8-inch fab. Both firms consider that further strategic association will enhance the value for both firms.

ON Semiconductor intends to increase its ownership to 100% in 1H2020. This additional capacity will enable company to continue to advance its operations to meet estimated demand and allow better supply chain flexibility.

In the month of July, ON Semiconductor posted 2Q2018 financial results. Revenue in 2Q2018 came at $1,455.9 million, a jump of 9% over GAAP revenue in 2Q2017. Keith Jackson, the CEO and President, expressed that they reported robust results in 2Q2018.

Demand for their products remains to grow as consumers are growingly depending on them to offer major technologies for newly growing applications in industrial and automotive markets. With strengthening customer engagement and a pipeline of unique products, the company is well set to gain from disruptive trends in markets. Along with robust revenue growth, the company continue to record impressive margin expansion, which indicates to strong leverage in their operating model.

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