Why Is ON Semiconductor Stock Trading Higher On Monday?
Why Is ON Semiconductor Stock Trading Higher On Monday?
ON Semiconductor Corp (NASDAQ: ON) stock reported a fiscal first-quarter 2024 revenue decline of 5% year-on-year to $1.86 billion, beating the consensus of $1.85 billion. The adjusted EPS of $1.08 beat the consensus of $1.04.
安森美半导体公司（纳斯达克股票代码：ON）股票报告称，2024财年第一季度收入同比下降5％，至18.6亿美元，超过市场普遍预期的18.5亿美元。调整后的每股收益为1.08美元，超过了市场普遍的1.04美元。
Revenue from Power Solutions Group (PSG) grew 2% year over year to $874.2 million, Analog and Mixed-Signal Group (AMG) decreased 6% year over year to $697.0 million, and Intelligent Sensing Group (ISG) fell 18% year over year to $291.5 million.
电力解决方案集团（PSG）的收入同比增长2％，至8.742亿美元；模拟和混合信号集团（AMG）同比下降6％，至6.970亿美元；智能传感集团（ISG）同比下降18％，至2.915亿美元。
The adjusted gross margin declined by 90 bps to 45.9%, and the adjusted operating margin decreased by 320 bps to 29.0%.
调整后的毛利率下降了90个基点至45.9％，调整后的营业利润率下降了320个基点至29.0％。
ON Semiconductor generated $276.3 million in free cash flow and held $2.61 billion in cash and equivalents as of March 29, 2024.
截至2024年3月29日，安森美半导体创造了2.763亿美元的自由现金流，持有26.1亿美元的现金及等价物。
Outlook: ON Semiconductor expects second-quarter adjusted revenue of $1.68 billion – $1.78 billion, below the consensus of $1.92 billion.
展望：安森美半导体预计第二季度调整后收入为16.8亿美元至17.8亿美元，低于市场普遍预期的19.2亿美元。
The company sees adjusted EPS of $0.86 – $0.98 versus the consensus of $1.10.
该公司预计调整后的每股收益为0.86美元至0.98美元，而市场普遍预期为1.10美元。
Last week, Piper Sandler analyst Harsh V. Kumar noted that fundamentals will bottom in the June quarter, and commentary on the call will remain conservative while pointing to opportunities for growth in the second half.
上周，派珀·桑德勒分析师哈什·库马尔指出，基本面将在6月季度触底，对电话会议的评论将保持保守，同时指出了下半年的增长机会。
However, the shape of any potential recovery through the second half remains uncertain and will depend on demand trends in key end markets, he said.
但是，他说，下半年任何潜在复苏的形势仍不确定，将取决于关键终端市场的需求趋势。
Kumar expected second-quarter guidance to be slightly down from the March 2024 quarter, modeling a 2.7% sequential decline primarily driven by automotive.
库马尔预计，第二季度的预期将比2024年3月的季度略有下降，预计连续下降2.7％，这主要是由汽车推动的。
He forecasted automotive, which is 50%+ of revenues for ON, to be down 4% for the June quarter.
他预测，占安大略省收入50％以上的汽车在6月份的季度将下降4％。
Given current lead times and channel levels, Kumar's base case posits that the June quarter will serve as the bottom quarter for this cycle.
鉴于当前的交货时间和渠道水平，库马尔的基本案例认为，6月的季度将是本周期的最低季度。
For the second half of 2024, he expects sequential growth in both the September and December quarters, where he modeled low single-digit type growth sequentially for each quarter.
对于2024年下半年，他预计9月和12月的季度都将出现连续增长，他对每个季度的低个位数增长进行了建模。
Kumar noted a robust and steady recovery starting in the second half of 2024 for gross and operating margin trends.
库马尔指出，毛利率和营业利润率趋势从2024年下半年开始强劲而稳步的复苏。
Despite the recent consternations in the EV market, Kumar noted that the EV market is set to grow 20%+ long-term. Additionally, EVs come with further benefits, such as high electronic content.
尽管最近电动汽车市场令人震惊，但库马尔指出，电动汽车市场将长期增长20％以上。此外，电动汽车还有其他好处，例如高电子含量。
Notably, silicon carbide penetration for EVs is still only in the high teens to 20% range, and excluding Tesla Inc (NASDAQ:TSLA), the penetration of silicon carbide in EVs is in the mid-single digits. Kumar had projected first-quarter revenue and EPS of $1.86 billion and $1.05.
值得注意的是，电动汽车的碳化硅渗透率仍仅在十几％至20％之间，不包括特斯拉公司（纳斯达克股票代码：TSLA），碳化硅在电动汽车中的渗透率处于中等个位数。库马尔曾预计第一季度收入和每股收益为18.6亿美元和1.05美元。
ON Semiconductor stock lost over 13% in the last 12 months. Investors can gain exposure to the stock via First Trust NASDAQ Clean Edge Green Energy Index Fund (NASDAQ:QCLN) and EA Series Trust Strive U.S. Semiconductor ETF (NYSE:SHOC).
安森美半导体的股票在过去12个月中下跌了13％以上。投资者可以通过第一信托纳斯达克清洁边缘绿色能源指数基金（纳斯达克股票代码：QCLN）和EA Series Trust Strive美国半导体ETF（纽约证券交易所代码：SHOC）获得股票敞口。
Price Action: ON shares are trading higher by 4.23% at $70.94 on the last check Monday.
价格走势：在周一的最后一次支票中，ON股价上涨4.23％，至70.94美元。
Photo by Anne Nygård on Unsplash
照片由 Anne Nyga'rd 在 Unsplash 上
译文内容由第三方软件翻译。