From Alphastreet - Earnings Decoded. Market Intelligence Delivered · AlphaStreet Newsdesk · · 1m
ON Semiconductor Rises 5.3% in Sector Rally
Semiconductor stocks surge as ON Semiconductor jumps 5.3% amid sector-wide gains.
In brief
Semiconductor stocks surge as ON Semiconductor jumps 5.3% amid sector-wide gains. ON Semiconductor's shares rose 5.3% to $84.28 after a sector rally lifted semiconductor stocks. Originally reported by Alphastreet - Earnings Decoded. Market Intelligence Delivered.
ON Semiconductor surges
ON Semiconductor Corporation surged 5.3% to $84.28 on Friday as a broad rally lifted semiconductor stocks across the board.
Sector peers gain
The Phoenix-based chipmaker rode a wave of sector enthusiasm that saw five of its closest peers post solid gains.
Volume and peers
with shares climbing on volume of 10.8M as investors piled into semiconductor names.
Sector rally drivers
MTSI led the charge with a 7.2% gain, followed by SITM up 5.8%, MCHP up 5.6%, LSCC up 5.0%, and GFS up 3.2%.
Market confidence
The rally adds to ON Semiconductor’s $32.8B market capitalization as the stock continues to attract attention from Wall Street analysts.
Analyst support
The company has seen one analyst raise their price target in the past week with no offsetting cuts.
What matters most
ON Semiconductor's shares rose 5.3% to $84.28 after a sector rally lifted semiconductor stocks.
