Shares of semiconductor company, ON Semiconductor Corp. (NASDAQ: ON) rose in pre-market trading at the time of writing on Monday after the company reported Q2 adjusted earnings of $1.33 per share, flat year-over-year but above analysts’ estimates of $1.21 per share.
The company’s revenues stayed flat year-over-year to $2.09 billion, beating analysts’ expectations of $2.02 billion.
Looking forward, management now expects Q3 revenues in the range of $2.1 billion to $2.195 billion while adjusted earnings are likely to be between $1.27 and $1.41 per share.
Overall, Wall Street analysts are bullish about ON stock with a Strong Buy consensus rating based on 18 Buys and five Holds.
