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.
安森美半導體公司（納斯達克股票代碼：ON）股票報告稱，2024財年第一季度收入同比下降5％，至18.6億美元，超過市場普遍預期的18.5億美元。調整後的每股收益爲1.08美元，超過了市場普遍的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.
電力解決方案集團（PSG）的收入同比增長2％，至8.742億美元；模擬和混合信號集團（AMG）同比下降6％，至6.970億美元；智能傳感集團（ISG）同比下降18％，至2.915億美元。
The adjusted gross margin declined by 90 bps to 45.9%, and the adjusted operating margin decreased by 320 bps to 29.0%.
調整後的毛利率下降了90個點子至45.9％，調整後的營業利潤率下降了320個點子至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，安森美半導體創造了2.763億美元的自由現金流，持有26.1億美元的現金及等價物。
Outlook: ON Semiconductor expects second-quarter adjusted revenue of $1.68 billion – $1.78 billion, below the consensus of $1.92 billion.
展望：安森美半導體預計第二季度調整後收入爲16.8億美元至17.8億美元，低於市場普遍預期的19.2億美元。
The company sees adjusted EPS of $0.86 – $0.98 versus the consensus of $1.10.
該公司預計調整後的每股收益爲0.86美元至0.98美元，而市場普遍預期爲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.
上週，派珀·桑德勒分析師哈什·庫馬爾指出，基本面將在6月季度觸底，對電話會議的評論將保持保守，同時指出了下半年的增長機會。
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，他說，下半年任何潛在復甦的形勢仍不確定，將取決於關鍵終端市場的需求趨勢。
Kumar expected second-quarter guidance to be slightly down from the March 2024 quarter, modeling a 2.7% sequential decline primarily driven by automotive.
庫馬爾預計，第二季度的預期將比2024年3月的季度略有下降，預計連續下降2.7％，這主要是由汽車推動的。
He forecasted automotive, which is 50%+ of revenues for ON, to be down 4% for the June quarter.
他預測，佔安大略省收入50％以上的汽車在6月份的季度將下降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.
鑑於當前的交貨時間和渠道水平，庫馬爾的基本案例認爲，6月的季度將是本週期的最低季度。
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.
對於2024年下半年，他預計9月和12月的季度都將出現連續增長，他對每個季度的低個位數增長進行了建模。
Kumar noted a robust and steady recovery starting in the second half of 2024 for gross and operating margin trends.
庫馬爾指出，毛利率和營業利潤率趨勢從2024年下半年開始強勁而穩步的復甦。
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.
儘管最近電動汽車市場令人震驚，但庫馬爾指出，電動汽車市場將長期增長20％以上。此外，電動汽車還有其他好處，例如高電子含量。
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，電動汽車的碳化硅滲透率仍僅在十幾％至20％之間，不包括特斯拉公司（納斯達克股票代碼：TSLA），碳化硅在電動汽車中的滲透率處於中等個位數。庫馬爾曾預計第一季度收入和每股收益爲18.6億美元和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).
安森美半導體的股票在過去12個月中下跌了13％以上。投資者可以通過第一信託納斯達克清潔邊緣綠色能源指數基金（納斯達克股票代碼：QCLN）和EA Series Trust Strive美國半導體ETF（紐約證券交易所代碼：SHOC）獲得股票敞口。
Price Action: ON shares are trading higher by 4.23% at $70.94 on the last check Monday.
價格走勢：在週一的最後一次支票中，ON股價上漲4.23％，至70.94美元。
Photo by Anne Nygård on Unsplash
照片由 Anne Nyga'rd 在 Unsplash 上
譯文內容由第三人軟體翻譯。