ON Semiconductor shares fell after the company offered weaker-than-expected guidance
ON Semiconductor shares fell 20% Monday after the company offered weaker-than-expected guidance for its fourth quarter.
Analysts at Deutsche Bank said ON Semiconductor's guidance suggests the company has"finally succumbed to macro pressures" like softening demand for cars."Following this disappointing outlook, we are not surprised by today's stock move, as investors are likely wary of ON returning to its cyclical patterns of old," they wrote in a Monday note.
Craig-Hallum analysts said they believe weakening demand for electric vehicles will adversely impact ON Semiconductor in the near term. They said it will be a"tougher year" for the company, and investors should"remain cautious."Panera now displaying warning about lemonade in all stores after lawsuit over customer's death
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