Semiconductor stocks are showing some strength after ON Semiconductor (ON 109.90, +4.71, +4.4%) reported pleasing earnings and guidance. The PHLX Semiconductor Index is up 0.4%.
ON Semiconductor New 52wk High $111.28
After Q2 Earnings
– Adj EPS of $1.33 beats by $0.12.
– Revenue $2.09B (flat Y/Y) beats by $70M.
– Record Automotive revenue over $1 billion rose 35% y/y
– Industrial revenue of $609.3 million rose y/y$ON 109.49 +4.4 (+4.19%)#SOX $SMH https://t.co/0kqJ7sgnUt— Traders Community (@TradersCom) July 31, 2023